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Taxes

Tax Preparation, Filing and Tips

Here Are 3 Ways to Pay the IRS

As a small business owner you have a menu of choices when paying the IRS Paying the Internal Revenue Service may not be your favorite thing, but if you are a business owner and you want to stay in business, you must bite the
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Pros and Cons of Capital Gains

Capital gains can be a double edged sword be smart about managing your assets to minimize costs Taxes are inescapable part of owning a business, but you can be smart about how you manage them. Understand the advantages and…
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Eyes Open For Depreciation & Write-Offs

Small businesses need to think strategically, as it may be a good year for equipment upgrades- take advantage of section 179 What is section 179? An IRS set of guideline for write-offs and deductions. What is the business  benefit?…
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8 Tax Tips for the 2012 Filing Season

Avoiding procrastination, understanding deductions and filing on time will make for a less stressful tax season It’s that time of year many of us tend to dread. Tax season. It can be stressful and cause some sleepless nights.…
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Was the Fiscal Cliff Averted?

The American Taxpayer Relief Act of 2012 represents a mixed bag for small businesses and individuals Are you as sick of the words “fiscal cliff” as I am? Better yet, do you really believe that the new law has saved us from it? After…
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Travel Expenses: What You Need to Know

Tips help small business owners determine which travel expenses are deductible according to federal tax guidelines As an individual always looking for new destinations and something new to write about while looking for new…
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More Tax Changes on the Horizon

Tax laws set to change at the end of the year when the Bush tax cuts expire, leading to increased taxes on qualified dividends and other modifications Photo: Fotolia In part one of this series, I outlined the…
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Big Insights on Taxes

What’s in play? What happens now that some of the Bush tax cuts for businesses expire at the end of 2012? Photo: Fotolia Note: This article is part one of a two-part series. The Bush tax cuts that were largely…
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Deducting Business Expenses

Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit. What Can I Deduct? To be deductible, a business expense must be both…
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Business Tax Essentials

Business expenses, electronic filing and other IRS tips for small and medium businesses The management and mentors of Latin Business Today will be providing a weekly column of timely topics provided by the IRS. These tax tips…
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Lease Or Buy Equipment?

If you plan to invest in new equipment for your business sometime soon, and were considering a traditional loan to finance the purchase, you might also want to look into leasing as an option. If cash is in short supply, and the equipment…
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A Taxing Question

Improvement or repair? A distinction with a difference. Business owners are constantly asking me whether a certain expenditure is classified for tax purposes as a capital improvement or a repair. Unfortunately, the distinction is…
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Keep The IRS Happy

'Paperless Age?' Not Quite! If I had a dollar for every time a client has asked: "How long do I have to keep all of this paper?" it would be like hitting the lottery. Even in this “paperless” age, records…
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