Getting a notice from the IRS that you owe back taxes can be intimidating. Usually, though, the IRS is willing to work with taxpayers who want to resolve tax debt. The Fresh Start Program makes payment options available to people who didn’t qualify previously. The program offers repayment choices including installment plans, Offers in Compromise, […] The post 6 Different Ways to Resolve Outstanding Tax Debts appeared first on SmallBizClub.
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For most new businesses and business owners, keeping it simple is key. After all, launching a new business requires attention to detail and doing many things right. For that reason, most new businesses start out simply as a sole proprietorship or a Limited Liability Company (LLC). As a successful business matures, however, the savvy owner […] The post When Is It Time to Become an S Corporation? appeared first on SmallBizClub.
The filing season for 2017 federal income tax is upon us, with a number of deadlines fast approaching. In the meantime, first quarter 2018 estimated tax deadlines are also right around the corner, with the new federal tax law potentially having a profound impact on your 2018 taxes and beyond. To avoid paying penalties and […] The post Important Tax Dates and Deadlines to Remember appeared first on SmallBizClub.
So you missed your federal tax filing deadline. Maybe you had a good reason, a personal or family emergency for example. Or maybe you just plain forgot. Whatever the reason for failing to meet the deadline, you now have to deal with the consequences. Here’s what to do next and why there may be hope […] The post What to Do if You Missed the Tax Deadline appeared first on SmallBizClub.
In terms of situations you’d rather not find yourself in, being the subject of a small business tax investigation probably ranks quite high. The first you’ll usually know of an impending tax investigation is a letter from the Internal Revenue Service (IRS) arriving in your mailbox. This is actually an important point because the IRS […] The post Subject of a Business Tax Investigation? Here’s What You Should Do appeared first on SmallBizClub.