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

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

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…

Don’t Forget That Business Car Deduction

There are two ways to approach your business car deduction, but make sure you keep solid records Here's how to write off optimized deductions for business vehicles. Choose the right accounting method to maximize savings:…

Summer’s Coming, Planning a Company Outing?

Now is the time to plan for a company party, office party or event, follow these 3 simple rules and deduct 100% of your next company gathering Whether it's an office party or office event here are some basic tips to impact your bottom…

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…

Renting Out Your Property? Prep For Tax Traps

There are many things to consider, including tax traps, when you decide to rent out your vacation property There’s money to be made when renting out your property, but beware of tax traps. Depending on a number of factors,…

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…

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…

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…

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…

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…

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…

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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Featured Mentors

Elizabeth Rios

Dr. Elizabeth Rios is a strategic visionary and has served her community in NY and FL in various capacities for over 25 years. She has served in…

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Tina Trevino

Tina Trevino, Partner & Director of Community Relations for Latin Biz Today is President & CEO of Tocaya Design under which she does design…

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Senen Garcia

Senen Garcia operates SG Law Group LLP, a thriving law practice in multiple states assisting clients with their corporate, real estate, estate…

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