The very last thing you want as a business owner is to be on the bad side of the IRS. You don’t want those guys calling, you don’t want them knocking at your door and you certainly don’t want them rooting around in your deductions. To keep the tax man/woman/person at bay, it helps to follow the proper tax laws from the get go. Check out our blog for some important tax tips for first time business owners before your first tax season.
taxes
Don’t Forget About Your Business Taxes
When April 15th rolls around, unless you have been granted an extension, the IRS demands that you have your taxes ready, sent and received by their office. The agency is not flexible on this and will come down hard on any tax evaders. Even if you skip just one tax season, you could get audited and that could result in fines that you probably can’t afford to pay. The IRS will set you up on a payment plan, but you should be prepared to pay interest and late fees if a payment ever comes in past the deadline. Check out some tips on how to properly file on our blog.
Need an Extension for Your Business Taxes? Here’s How to Get One
Sometimes things come up or need to be postponed while further information is gathered and this can include filing your business taxes. You might be waiting on information or just trying to buy time to come up with the money for your business taxes if you haven’t been setting some aside all year long. Or you might just need a bit of a break. Will you be filing your taxes on time for your business this year or filing a request for an extension?
What Every Business Owner Should Know About Taxes
How much and how you pay your taxes are based off the type of business you own. Do you have any tax tips to offer business owners to save them time and money this tax season?
2014 Expired Tax Breaks, Obamacare Penalties & More
A lot of tax payer will be surprised by some of the new tax penalties as well as the expiration or past tax breaks, this year. It is good to remember that 55 different tax breaks expired at the end of 2013 and many will see the ramifications of it when filing taxes this year as well as next. Congress is even thinking about reinstating some of the more popular tax deductions. Which popular tax deductions do you hope to see make a come back as soon as possible?