Tax Tips Small Business

  • New Rules for Spouses Who Operate a Business Together

    Do you qualify for simplified reporting?

    Spouses who operate a business together have a new option for reporting their business income. In the past, husband and wife joint owners were considered a partnership for reporting purposes. New rules, which took effect in 2007, give spouses the option of reporting their business income as two separate sole proprietorships.

    Read more ...

Small Business Quick Tip

  • Personal Assets to a Business

    If you have contributed personal assets, such as a computer or vehicle to your business, the lower of the fair market value or your cost basis of these assets qualifies as a business deduction, subject to depreciation limitations, beginning with the date of conversion.
Monday, 18th March 2019
EASEAL_L

What is an Enrolled Agent and why should I care?

Click Here to find out

 

NATP Member

Follow us on

TwitterFacebook

Tax Tips Personal

  • Job Search Expenses May Lower Your Taxes

    Summer is often a time when people make major life decisions. Common events include buying a home, getting married or changing jobs. If you're looking for a new job in your same line of work, you may be able to claim a tax deduction for some of your job hunting expenses.

    Here are seven things the IRS wants you to know about deducting these costs:

    Read more ...

Personal Quick Tip

  • IRA Contribution Deadline 2

    Contributions to your IRA must be made by the due date of your tax return. Generally this is April 15. Extending the due date of your tax return does not extend the due date of your IRA contribution.