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Posts published in “Tax and Accounting”

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Georgia: New Sales Tax Compliance Requirements for Online Retailers

Georgia will require online retailers to file sales tax compliance returns beginning January 1, 2019, if their annual Georgia revenues exceed $250,000 or if they have more than 200 separate retail transactions within the state per calendar year. As an alternative to collecting Georgia sales tax from its customers and filing sales tax compliance returns, […] The post Georgia: New Sales Tax Compliance Requirements for Online Retailers appeared first on SmallBizClub.

Tax Reform Creates Desire for the C Corporation

When you first see a 21 percent tax rate for the C Corporation, you have to think this could be the choice of entity for your business operation. Further, when you find yourself in the out-of-favor group for the 20 percent deduction authorized by new tax code Section 199A, you naturally gravitate to thinking about the C Corporation, […] The post Tax Reform Creates Desire for the C Corporation appeared first on SmallBizClub.

What to Consider If You Work from a Home Office

If you work from home, you may be wondering whether you can deduct your office space from your federal tax returns. The short answer is: Yes, absolutely! But the IRS has very specific guidelines for what is and isn’t deductible with respect to home offices. Here are some tax issues to consider if you work […] The post What to Consider If You Work from a Home Office appeared first on SmallBizClub.

6 Different Ways to Resolve Outstanding Tax Debts

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.

Can Big Data Help Cross-Border Remittances?

The overseas money transfer industry has seen considerable changes since the turn to the last century, mainly because of technological advances. Once the domain of banks and high-street forex brokers, it has witnessed the arrival of several FinTech companies. Where there’s FinTech, can the use of big data be far behind? Xoom, an overseas money […] The post Can Big Data Help Cross-Border Remittances? appeared first on SmallBizClub.

Can You Deduct Business Travel When It’s Combined with Vacation?

At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset some of the cost with a tax deduction can sound appealing. But tread carefully, or you might not be eligible for the deduction you’re expecting. General Rules Business […] The post Can You Deduct Business Travel When It’s Combined with Vacation? appeared first on SmallBizClub.

Self-Employed? 5 Easy Ways to Lower Your Tax Bill

If you’re like most small business owners, you’re always looking for ways to lower your taxable income. Here are five ways to do just that. 1. Deducting the Cost of a Home Computer If you purchased a computer and use it for work-related purposes, you can take advantage of the Section 179 expense election, which […] The post Self-Employed? 5 Easy Ways to Lower Your Tax Bill appeared first on SmallBizClub.

How to Read a Paycheck—The Easy Way

When entrepreneur and Muppeteer Jim Henson made his first dollar, he framed it and hung it on his office wall. For everyone, whether you’re the company owner or an employee, earning an income is a source of pride and a primary foundation for economic security. Surprisingly, in spite of how important getting paid actually is, most people […] The post How to Read a Paycheck—The Easy Way appeared first on SmallBizClub.

A Review of Significant TCJA Provisions Affecting Small Businesses

Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA) that may significantly impact their taxes for 2018 and beyond. Generally, the changes apply to tax years beginning after December […] The post A Review of Significant TCJA Provisions Affecting Small Businesses appeared first on SmallBizClub.

A Checklist for Spring Cleaning Your Bookkeeping

Now that tax season is behind you, or you’ve at least filed for an extension, you might consider doing a little spring cleaning of your bookkeeping. Small measures often go a long way toward creating greater success for your business. Here’s a checklist of seven things you can do to spruce up your bookkeeping and keep […] The post A Checklist for Spring Cleaning Your Bookkeeping appeared first on SmallBizClub.

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