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The United States Treasury dropped a bombshell at the White House yesterday when Secretary of the Treasury Steven Mnuchin announced plans to slash taxation rates on all American businesses. The proposed maximum tax rate would fall to a paltry 15 percent — down from the current 39.6 percent rate cur Read More

Solopreneurs and freelancers often find filing their income tax returns an excruciating process. If this sounds like you, there's hope for the 2017 tax year. This post shares some practical tips to make the task a less daunting ordeal when tax time rolls around next year. Read More

When you start a business, you need to choose an entity type.

However, selecting the right structure makes all the difference. Read More

Whether this is your first time filing taxes as a small business owner or your 15th, tax season is rarely an anxiety-free operation.

Even if you’ve dotted every “i,” crossed every “t,” and placed everything in the hands of a capable accountant, you’re bound to be feeling some jitters. Read More

When you’re a customer, sales tax is pretty simple. You go to the store, buy something, and pay a small extra percentage on the item. But when you’re a product seller, sales tax gets a little more complex, especially if you sell online.

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Most business people are aware that they can write off some of the costs of operating a standard gasoline- or diesel-based car, truck or van for business use. But with electric or plug-in hybrid vehicles, we’re talking about money that comes right off the top of your tax liability — in the form of Read More

There are cases where someone has used the same tax professional for a long time and they are reluctant to change. Usually the client and tax advisor have built a great personal relationship over many years of working together.

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As much as starting and running a business involves grit and good ideas, it also involves the delightful tedium of paperwork—and knowing which forms the government needs from you based on the type of business you own.

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Quarterly tax payments come around every 3 months. For business owners, payments for the following year are usually estimated by your accountant or through which ever tax filing software you might be using.

To make it simple to remember when to pay your quarterly taxes, I’ve created a Read More