2013

The Home-Based Business: Basics to Consider

More than 52 percent of businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements and attics are being transformed into the corporate headquarters of the newest entrepreneurs – home-based businesspeople. And, with technological advances in smartphones, tablets, and iPads as …

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Estimated Tax Payments – Q&A

Question: How do I know if I have to file quarterly individual estimated tax payments? Answer: If you owed additional tax for the prior tax year, you may have to make estimated tax payments for the current tax year. If you are filing as a sole proprietor, partner, S corporation shareholder, and/or a self-employed individual, you generally …

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Using a Car for Business? Grab These Dedcutions

Whether you’re self-employed or an employee, if you use a car for business, you get the benefit of tax deductions. There are two choices for claiming deductions: Deduct the actual business-related costs of gas, oil, lubrication, repairs, tires, supplies, parking, tolls, drivers’ salaries, and depreciation. Use the standard mileage deduction in 2013 and simply multiply …

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IRS Offers Top 10 Tax Time Tips

The end of the tax filing season is almost here. Even though your tax return is not due until April 15, you can make tax time easier on yourself by starting now. Here are 10 important tips to ensure a smooth process. 1. Gather your records.  Round up any documents you will need when filing your …

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