Browsing Tag

taxes

8 Exit Business Planning Mistakes

Sound New Year’s resolutions and business solutions to avoid common exit planning mistakes Once upon a time, on a New Year’s Eve, three business owners, Tom, Dick and Harry, sat down for a moment to reflect on what they had done for

The Forms Are Coming! The Forms Are Coming!

It's time to start your 2014 tax preparation...here's what's new The Forms are coming indeed, the many tax forms needed for you to file your 2014 tax returns will be in the mail shortly. It is time to start

Small Business, Corporate Tax and Reinvention Steps

Why corporate taxes are bad for the USA, (or any country) and solutions on small business savings According to the US Public Interest Research Group Education Fund, at least 362 major corporations in the United States maintained…

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…

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?…

Starting Your 2013 Small Business Taxes?

What you need to know about tax law changes as you prepare your 2013 tax year return Significant tax law changes have taken place for 2013 1040 income tax filings. Among them are modifications to the marginal tax rate, Net…

Entertain Clients? Compliance Strategy And IRS

Entertaining clients is a great way to establish both professional and personal relationships—but the IRS requires you keep receipts and other documentation When entertaining clients, you should have several goals in mind.…

Personal And Business Tax Planning 2013-2014

With smart personal or business tax planning, you shouldn’t have to “volunteer” to pay more taxes than required. It's tax planning time and meeting with your accountant now—before the year ends—can help reduce your tax liabilities. In…

Finally! A New Home Office Tax Deduction

Take advantage of a new law for simplified home office tax deduction. There's good news for small-business owners who keep home offices and wanted to take advantage of the home office tax deduction when filing their taxes.…

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.…

Tax Deductions That Survived After 2011

Here are six provisions to help filers of 2012 returns Thanks to the passage of the American Taxpayer Relief Act of 2012 (ATRA), many tax provisions that expired in 2011 were retroactively extended (or made permanent) and are…

10 Tips to Help You Choose a Tax Preparer

Choosing a trustworthy professional makes all the difference for your tax return. February is usually the time when we start looking for help from tax professionals to file our tax returns. When using a paid tax preparer to…

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…

10 Business Tips For A Less Taxing Filing Season

Preparation, organization and forethought will ease small business challenges at Tax Time Tax filing can be daunting for any small business but it doesn’t have to be. During my tenure at the IRS I’ve recommended the…

New IRS Rules On Hurricane Victims & Retirement

401(k) and similar employer-sponsored retirement plans can make loans and hardship distributions On November 16, 2012, the Internal Revenue Service issued Announcement 2012-44 in an effort to bring relief to those people…

Candidates Face-Off on Small Business

Presidential campaign leaders tout their candidates’ views on taxes, healthcare and Latino businesses The Small Business Administration estimates that 23 million small businesses are located in the U.S., accounting for 54

Both Parties Claim the Diversity Mantle

As the presidential campaigns enter the homestretch Hispanic business owners should welcome the debate on commerce, taxes and job growth Editor’s Note: The opinions expressed are those of the writer. Latin Business…

Get Savvy about the Rules of Overtime Pay

Hispanic Entrepreneurs Can Benefit from State and Federal Guidelines Image: Fotolia In good times and bad, employees at millions of small business nationwide are working overtime. But many small business owners may not be totally…

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…

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…

The Accidental Entrepreneur

Chapter 2 – Getting Started, The First Three Years I am a researcher, that’s who and what I am. And I am a Hispanic researcher, dedicated to bringing the voice of the Hispanic population to the people who need

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…

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…

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…

When Disaster Strikes

A Little Advance Planning Can Save a World of Trouble I will never forget that gut-wrenching Monday morning, back in the mid-1970s, when I drove into my company’s parking lot and saw the burned-out shell of a building. That was all…

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…