US Business Law / Taxes Sitemap - Page 1 2016-09-26
How to File W-2 Forms and W-3 Forms Online
How to e-file Form W-2 online through the Social Security Administration Business Services Online site.
Late Filing Penalties for W-2 and W-3 Forms
The bottom line: If you must file late, file as soon as possible, to avoid additional fines and penalties.
W-3 Form - Preparing and Filing
How to prepare and send Form W-3, the transmittal document for W-2's, to the Social Security Administration.
Trade Credit or Vendor Financing for Small Business
Trade credit is a great way to build business credit. Learn about how trade credit works and how it helps your business.
Business Car Leasing or Buying - Which is Best?
A discussion of car leasing for a business owner, and benefits and drawbacks to leasing vs. buying.
End of Year Employee Paychecks - Which Year's Taxes?
End of year paychecks - which year counts for W-2 income purposes? The general rule - and the exception.
Form W-4 - Information for Employers
Explanation of Form W-4 - Employee's Withholding Allowance Certificate, which employees must complete at hire to calculate withholding.
Late Payment of Business Taxes
If you can't pay your business taxes, information on tax payment alternatives, penalties and interest.
7 Questions to Ask Before You Join the Sharing Economy
Joining the shared economy to make money? First, consider these issues: taxes, permits, licenses, insurance, deductions, and more.
New Hire Forms and Checklist
Forms you must have a new employee complete, including the W-4 form, state income tax withholding form, I-9 form, and a job application form.
What's the Difference Between Salaried and Hourly Employees?
Difference between salaried and hourly employees. How to calculate salary and hourly rates and exempt vs. non-exempt employees explained.
Made a Profit Your First Year? What About Taxes?
Is your new business profitable? How to plan for income taxes to avoid fines and penalties. And don't forget about self-employment taxes!
4 Reasons to Incorporate Your Business
There are pros and cons to incorporating your business. Find out if your goals and concerns make it a good idea for you.
Trademark - Service Mark - Register Trademark
All about trademarks and service marks, including the registration process, using an attorney, what needs to be included in a registration, why register a trademark. Learn how to register a trademark or service mark internationally using the Madrid system.
Employer Responsibilities for Payroll Taxes
A discussion of responsibilities of employers to collect, report, and file payroll taxes with the IRS and other agencies.
Copyright - Copyright Registration Online
How to register a copyright online, including the steps to take and the information needed before registration.
Creative Works You Can Copyright and Can't Copyright
Creative works which can be copyrighted, works which cannot be copyrighted. Copyright and websites is also discussed.
Copyright or Trademark - What's the Difference?
What's the difference between a copyright and a trademark? How do I know when to copyright something or trademark it?
Tips for Calculating Net Pay for Employees
Tips for calculating employee net pay, including a definition of gross pay, how to withhold income taxes and FICA taxes.
What are Per Diem Rates and How Are They Set?
An explanation of per diem rates for meals and lodging for business travel. How per diems are set and where to find information on current rates.
Steps to Take to Close or End Your Business
The process of ending a business is complicated. This article takes you through it step by step, with options for the process.
Starting a Sole Proprietor Business - Pros and Cons
Should you be a sole proprietor? The sole proprietor business explained, including pros and cons, like control, liability, taxes, and start-up.
Bonus Depreciation and How It Affects Business Taxes
Bonus depreciation is an additional depreciation allowance on business property that can save you taxes on new business purchases.
Accelerated Depreciation for Business Tax Savings
How depreciation can benefit your business by providing tax savings on purchase of qualifying business equipment and vehicles.
Schedule C - Profit or Loss From Business
Information about Schedule C - Profit or Loss from a Business - for small business owners, as part of the individual owner's personal tax return.
Social Security and Medicare Tax for the Self-Employed
How self-employed business owners pay Social Security and Medicare taxes (SECA taxes) and how these taxed are calculated.
Before You Lease a Company Car for Business Use
Considering leasing a company car for your business or an employee? Consider benefits of leasing, how to negotiate terms, and tax implications.
Making Intangible Assets Work For Your Business
Making intangible assets work for your business, including types of intangible assets and how to use them for profit.
Why Do Businesses Go Bankrupt? A Crisis of Liquidity
Why do businesses go bankrupt? Often they forget the importance of liquidity. A discussion of differences between liquidity, solvency, and viability.
Are Verbal Contracts Legal?
Verbal business contracts can be enforceable, but some types of contracts do have to be in writing. The differences are explained in this article.
Can a Book Title be Copyrighted?
Why you cannot copyright a book title, other items you cannot copyright, and why you can probably trademark that title.
What Happens to Contracts When a Business Changes Names
An explanation of what happens to a contract when a business has major changes, like a name change, sale, or bankruptcy.
7 Common Business Plan Mistakes
Common mistakes in creating a business plan, including forgetting an executive summary and not checking for errors, and how to avoid them.
TI vs. Leasehold Improvement vs. Build-Out
Explaining the difference between tenant improvements (TI), leasehold improvements, and build-out in a commercial space lease or building purchase.
3 Ways to Get Your Struggling Business Back in Line
Get your struggling small business back in line financially by working on these three principles of cash flow, budgeting, and financial management.
Which Is First - Incorporation or Employer ID?
Steps in starting a business - checking account, EIN, and business registration - and which should be done first.
7 Myths about S Corporations - Explained
Common myths about S corporations, including how S Corps owners are taxed, how an S corp differs from a corporation and an LLC, and how it is elected.
Why You Should Register Your Business Name with Your State
Two businesses in the same state can have the same name, but claim what's yours and register your name so no other business can use it.
5 Things Employers Should Know About Social Security
Information for employers aboutSocial Security Numbers, including how to verify SSN's, and when you can and can't use the SSN as an identifier.
Costs of Registering a Trademark Online
New reduced trademark application fees are in effect. Learn more about how to trademark a product or service.
How to Keep Your Trademark From Being Stolen
How to protect your trademark or service mark from being lost or stolen. Register it, use it, monitor others, fight violations, and more.
Forming an LLC in Delaware or Nevada - Pros and Cons
Pros and Cons of forming an LLC in Delaware or Nevada, rather than the state where your business is located.
Family Business and Employment Taxes
Having family help in your business can be great, but there are some tax issues you need to know about before hiring a spouse, child, or other family member.
Owning a Business with Your Spouse - Legal Agreements
Starting a business with your spouse? You have many decisions to make about business legal form, status of spouses, who's in charge.
What Is Jurisdiction? How is Jurisdiction Decided?
Definition of jurisdiction in a lawsuit, types of jurisdiction, federal vs. state jurisdiction, and how jurisdiction is decided.
State Tax Holidays - How to Prepare Your Business
Describes a sales tax holiday and how you can prepare your business for a sales tax holiday in your state and report sales tax holiday sales.
What is Due Diligence? Overview and Checklist
The due diligence process in buying a business or . Due diligence includes detailed review of operations, financial records, sales and marketing, employees, and legal documents.
Setting Up Your Artistic Business to Save on Taxes
Business owners in the arts - writers, crafters, artists - can get the tax benefits if they follow business procedures and set up business accounts.
Nonpayment of Employees and Contractors
How to deal with non-payment by an employer and make sure you get paid for your services as an employee or independent contractor.
Calculating Cost of Goods Sold - Required Information
Information you need to give your tax preparer to calculate cost of goods sold and where cost of goods sold is included on a business tax return.
Moving Your Business to Another State
What happens to business legal type when a business moves to another state? Several possibilities, depending on business type.
Before You Prepare Form 1099-MISC - What You Need to Know
This article provides information for employers on how to submit Form 1099-MISC, including how to prepare the form, due dates, and common mistakes.
What If You Lose Business Records in a Disaster?
If you lose business records in a disaster, you can't back up expenses and you can't file disaster loss claims. What to do.
Paying in Cash to Employees and Independent Contractors
You might wonder if it's legal to pay your employees in cash. But when it comes to taxes and the IRS, it might be more trouble than it's worth.
Employer ID Number Online Application
Here are the steps for completing the online application with the IRS to get an employer identification number for a business.
Tax Guide for Independent Contractors
How an independent contractor pays federal income taxes and self-employment taxes, including an example.
Starting a Successful Seasonal Business
Want to start a seasonal business? It's easy but there are some special issues, like licenses and permits, cash flow, and hiring workers.
Business Travel Tax Deduction Tips
Deductions for business travel are complicated, but these 7 tips will help you sort out what's deductible and what isn't.
Operating Agreements for LLC's - Terms to Include
This article describes an LLC operating agreement and the terms that should be included in an LLC operating agreement.
Self-Employed Seniors, Taxes and Benefits Answers
Self-employed seniors have special issues regarding business and self-employment taxes in regards to Social Security and Medicare.
How a Tax Professional Can Help Your Small Business
Types of tax professionals, including CPAs, enrolled agents, and tax attorneys, and how they can help you before, during, and after tax preparation.
Business Law: Determining a Tax Home
If you travel as part of your business, or if you work in different locations, the location of your tax home is an important concept.
Record-keeping and Business Tax Savings
How poor record keeping can cause tax audit problems. How good record keeping can help you save on taxes.
Common Errors in Completing Form W-2
Common errors in completing Form W-2.
Why Small Businesses Need a CPA vs. An Accountant
While it's true that accountants don't charge as much, a CPA can provide high-level services such as tax planning & can represent you before the IRS.
How to Prepare and File Form W-3 or Form 1096
Learn the rules for filing Forms W-3 and 1096 to the IRS and Social Security Administration when you submit W-2s and 1099-MISC forms.
Why Should I Outsource Payroll Processing?
Why Outsource Payroll? Teresa Ray from The Payroll Department answers questions about the advantages of hiring a payroll processing service.
How LLC Ownership Works - Contributions & Distributions
A discussion of LLC ownership, including how LLC owner/member capital accounts work, and how LLC owners make contributions.
How to Fire Your Attorney
Want to fire your attorney? How to fire an attorney and when and what to do before you fire.
How Often Should an Employer Pay Employees?
How often do you get paid on salary? For employees, it depends on state regulations, cost, type of employees and the company's pay frequency schedule.
Tax Law: Commuting Expenses vs. Travel Expenses
Confused about business travel vs. commuting expenses? Business travel expenses are deductible but not commuting. The difference is explained.
Check for Errors in Form 1099-MISC
Common errors in completing Form 1099-MISC and other types of 1099 forms and how to avoid them.
How to Prepare for a Business Tax Audit
Preparing for a tax audit - what auditors are looking for. Steps to take before the IRS shows up for an audit.
FIFO or LIFO Inventory Methods - Which is Better?
A discussion of LIFO and FIFO inventory valuation methods for tax and accounting purposes, and IRS regulations on inventory valuation.
Self-Employment Taxes - The Good News and Bad News
Self-employment taxes are paid by business owners for social security and Medicare. That's good news and bad news.
Business Name Availability and How to Register
After you find a business name you want to use, you must check on the availability of the name. How to register or reserve a business name.
Do I Need a Registered Agent for My Business?
Information on what Registered Agents do, how the benefit a small business, and how to select a Registered Agent service.
Schedule E for Supplemental Income and Loss Explained
Schedule E records income and loss for partners in a partnership or shareholders of an S corporation. Details of the process are explained.
How Do I Change My Company's Articles of Incorporation?
Why you might amend articles of incorporation and the process for changing these articles in your state by creating articles of amendment.
What Do I Include in an Employee Handbook?
What to include in an employee handbook: policies and procedures, employee benefits, employee time off. Also include a statement of
Using Form I-9 to Verify Employment Eligibility - FAQ's
Answers to common questions about completing Form I9 to verifying employee eligibility to work in the U.S.
Complete Form I-9 Employment Eligibility Verification
How to complete Form I-9 to verify work eligibility of employees, step by step, as employees complete Section 1 and employers verify in Section 2.
How to Incorporate in Oregon
Learn what it takes to incorporate in Oregon, including filing articles of incorporation and other requirements.
I-9 - Form (-9 Documents - Documents for Form I9
Documents acceptable for verifying new hire identity and employment eligibility. How employes must evaluate these documents.
Internet Sales Tax - Background, Issues, Updates
In 1992 the Supreme Court ruled that a merchant is not required to collect sales tax unless the merchant has a tax nexus in that state.
Business Car Ownership - Company or Employee?
Who should own a car for business use - the company or the employee? Factors to consider in decision to put car in company name or employee name.
Laws and Regulations Affecting Independent Contractors
Laws and regulations relating to independent contractors including IRS regulations, Social Security, and Department of Labor regulations.
Business Name - About Business Names
Learn why the selection of a business name is so important. includes selecting selecting, registering, trademarking, and changing a business name.
Copyright and Social Media for Business
This article explains copyright issues for social media ,including Twitter, Facebook, and Pinterest. Also, how to protect your own content.
Employee Handbook - Policy Manual - Employee Manual - Why an Employee Handbook
Why every company should have an employee handbook or policy manual, even if the company has only one employee.
How to Report and Pay Taxes on 1099 Income
You received a 1099-MISC form. Here find what to do with it, how to include this form with your personal taxes, and how taxes are paid on this income.
Wage Garnishment Information for Employers
Information about wage garnishment for employers, including garnishment maximums and number of garnishments allowed.
Forming a B Corporation for Social Benefit
B corporations are a new type of corporation for social benefit. Requirements, how to set up, how to operate a B corporation, and examples.
How a Corporation Elects S Corporation Status
The requirements for filing an S corporation election, including benefits of S Corp election, qualifications, election filing time, and costs.
A Checklist for Selecting a Business Type
A brief description of business legal types and checklist for selecting the best legal type of business for your new business.
Business Tax Credits for Disability Access Updates
How to get a business tax credit for making improvements for disability access for employees and customers.
Tax Credits Included in the General Business Credit
Describes the general business credit and all business tax credits included.
Capital Gains on the Sale of a Business
Reporting capital gains on the sale of a business for tax purposes, including sale of assets and sale of shares.
The Best Way to Make Business Tax Payments
Which checking account to use for paying business tax preparation and for the tax owed on business and personal returns.
Self-Employed Health Insurance Deduction
Self-employed business owners may qualify for a deduction for health insurance premiums paid as part of the business. An overview of this deduction.
How Do I File Taxes for a Home Based Business?
Filing taxes for a home based business, including calculating the home business space deduction on Form 8829.
How to Complete Your Amended Business Tax Return
How to complete an amended business tax return, with details for Schedule C and information for corporate, partnership, and LLC amended returns.
Filing an Amended Business Tax Return
Make a mistake on your business tax return? Which form to use for an amended tax return, where and when to file, depending on your business type.
How Do I Calculate Estimated Taxes for My Business?
Ways to calculate estimated taxes for a self-employed business owner filing business taxes using Schedule C and previous tax years.
Sole Proprietor vs. Independent Contractor Explained
Is a sole proprietor also an independent contractor? Find out what's the difference, and how these terms are important to your small business.
Domestic Services and Paying Taxes
If you hire and pay domestic or household workers, you must treat them as employees. Use this information for hiring forms and payment practices.
Business Tax Deductions Not Allowed by IRS
Business tax deductions the IRS will not allow, including fines and penalties, taxes, commuting costs, political donations, hobby losses.
Hiring Your Spouse as an Employee
What are the benefits and drawbacks of hiring your spouse as an employee? How do you treat a spouse as an employee? Find answers to these questions.
Deducting Business Expenses in an Unprofitable Business
A recent Tax Court case explains the factors considered in whether a business can deduct expenses even if the business isn't profitable.
Doing Your Own Business Taxes
Can a small business owner complete a business tax return? This article discusses considerations and types of preparers for business tax returns.
8 Commonly Missed Business Tax Deductions
Don't pay more business tax than you must. Take advantage of legitimate business deductions, like the ones listed here that are commonly missed.
Selecting a Business Organization Type - Checklist
Starting a business? Selecting a business type? Here is a checklist of factors to consider when selecting your legal form of business.
Deducting Advertising Expenses
Advertising Expenses: What expenses are considered as advertising, what you can and cannot deduct, and where to deduct on business tax forms.
Deducting Interest Expenses on Your Business Taxes
How to deduct types of interest expenses in your business, and how interest income affects your business taxes.
Deduction for Dues for Clubs and Organizations
The IRS says most club dues are not deductible business expenses. Some exceptions and a discussion of club dues as compensation..
Paying and Deducting Commissions to Employees
An explanation of the allowable deduction for commissions and fees paid to independent contractors.
Deducting Education Expenses for Owners and Employees
How to deduct educational expenses for employees and business owners, and information on when these benefits are taxable to employees.
What Employee Benefits are Deductible for My Business?
Employee benefit expenses you can deduct, including gifts, bonuses, health plans, and education reimbursement.
Deducting Legal and Professional Fees for Business
How to deduct legal and professional fees as a business expense, what's deductible and what's not, and what form to use for the deduction.
How to Deduct Business Meals and Entertainment Expenses
Deducting business meal and entertainment expenses, including the 50% limit and how it's applied, and how to keep records on meals and entertainment.
Office Supplies and Office Expenses on Business Taxes
Deducting office supplies and office expenses, the new simpler IRS rule for expensing rather than depreciating, and where to put on your tax return.
Can I Deduct Political and Lobbying Expenses ?
A brief explanation of political and lobbying expenses, which are not deductible business expenses.
Business Tax Deductions for Employee-related Costs
Employee costs your business can deduct, including uniforms, tools, equipment, & subscriptions. Limits & how to include on your business tax return.
How to Create a Payroll Register
A payroll register records all items of employee pay in a payroll, with accumulated amounts for payables over time.
How to Deduct Employee Gifts, Awards, and Bonuses
Tax issues to consider before you give gifts, bonuses, or awards to employees. Includes taxability to employees and deduction to your business.
Entertainment Expense - Business Entertainment Expenses
An explanation of entertainment expenses, which are deductible and which are not, and how to keep records on entertainment expenses.
How to Deduct Business Moving Expenses
What business moving expenses are deductible and which are not deductible. IRS regulations for moving expenses and travel expenses are discussed.
Conflict of Interest Policy for Your Corporate Board
What to include in a conflict of interest policy for a corporate board of directors, including confidentiality and fiduciary responsibilities.
Should I Pay My Company's Board of Directors?
A discussion of possible ways to compensate corporate board members, and how to deduct board member compensation.
Tips for Removing a Board of Directors Member
Need to know how to remove a board member from your board of directors? Here are some alternatives to consider for terminating this individual.
Qualified Joint Venture - Spouses in Partnership
Answers to questions about how a husband-wife partnership files business taxes on Schedule C. Included is information about the qualified joint venture.
The Process of Registering a Trademark or Service Mark
If you have a trademark or service mark that you want to register, here is the process to use.
Create an Employee Handbook/Policies & Procedures Manual
Create an employee handbook (policy and procedures manual) to clarify policies and provide information on benefits.
FMLA - What Is It and How Does It Affect Your Business?
Here is a description of the main provisions of the Family Medical Leave Act (FMLA) and how it affects your business.
How to Negotiate a Business Sale
As you negotiate the sale of your business, there are many considerations to discuss. Here is a list of the most common ones.
5 Easy Steps to Creating a Break-even Analysis
Breaking even is important to your business, to find the profit point. How to do a break-even analysis and find the profit point.
Capital Leases vs. Operating Leases
Choosing capital leases vs. operating leases for business equipment leases - the differences explained.
How to Get an SBA 7(a) Loan for Your Small Business
Here is a description of the SBA 7(a) loan program for small businesses. The program provides guarantees to lenders for small business loans.
Owner Investment - Startup Loans From Owners
As a business owner, you can loan money to your business or invest in it. A discussion of the two alternatives, from a risk and tax viewpoint.
Small Business Loan Requirements
Want a small business loan? You need to be prepared with the 4 C's - character, credibility, collateral, and capital assets.
How To Detect and Prevent Employee Theft, Embezzlement
Some tips to help you discover and prevent employees from stealing or embezzling from your business.
How Do I Prepare My Home Office Tax Report?
How to calculate your home office space deduction on Form 8829, and how to report on your business tax form.
Simplified Home Office Deduction Option Explained
Home based businesses may be able to take a simplified home office deduction. Learn how to qualify and information needed to calculate.
Home Office Deduction and Business Type
How your business legal type affects your home office deduction. How to deduct home office space and expenses, depending on your business type.
What is an Accountable Plan for Reimbursing Employees?
Description of an accountable plan for reimbursing employees for business expenses, so these expenses are not taxable to the employee.
What is an Affiliate in the Business World?
A definition of affiliate business relationships, and types of affiliates. Also a discussion of terms to include in an affiliate agreements.
What is a Business Budget and Why a Business Needs One
Describes a business budget, discusses why businesses need to create budgets, and the process for preparing and using a business budget.
What is a Barter Exchange? How Does it Work?
Definition of a barter exchange, how a barter exchange works, and how a barter exchange helps with barter record keeping and tax reporting.
What is Cost of Goods Sold? (COGS)
Cost of Goods Sold is explained here, including how to calculate cost of goods sold and include in a business tax return.
Tax Loss Carryback and Carry Forward Explained
Explains how a tax loss carry back or carry forward works, to use a tax loss in one year to offset a previous or future year of business profit.
What Is a Caucus and How Does It Work?
The definition of a caucus and some examples in the judicial, mediation, and the political process. Read this article for more information.
How Clawback Provisions Work in Business Contracts
How clawback provisions work in business contracts, some examples of clawbacks, and two clawback examples in recent news.
What Is a Conflict of Interest? Give Me Some Examples
The term conflict of interest is defined and explained by using examples from the workplace, professions, boards of directors, and the public sector.
Constructive Notice and Actual Notice in Lawsuits
An explanation of the term constructive notice in civil lawsuits, in contrast to actual notice, including some examples.
What is Constructive Receipt of Income?
A definition and discussion of constructive receipt and when it applies in business accounting and taxes.
What is a Cosigner for a Business Loan?
Describes a co-signer for a business loan, requirements for a co-signer, and how the co-signing process works.
What Is a Defendant? How Do I Defend Myself in Court?
What is a defendant in a business lawsuit? What does a defendant do? How to defend yourself in a small claims case.
What is an Earn-out or Earnout in a Business Sale?
A discussion of the earn-out as a way to finance the sale of a business, how earn-outs are structured, and benefits and drawbacks.
What is Embezzlement and Employee Theft?
Here's a discussion of embezzlement, factors in this type of fraud, penalties, examples, and how to protect your your business from embezzlement.
How a Home Based Business Collects Sales Taxes
How a home business can collect sales tax, both on internet transactions and in-person transactions. How to get information on state sales taxes.
What Are the Defenses Against Defamation?
A discussion of defamation - libel and slander - and some common defenses against a charge of defamation.
Is It Worth It to Hire a Tax Attorney?
Find out what a tax attorney can do for your small business and how much you might expect to pay if you decide you need one.
Got a Cash Business? Important Facts You Need to Know
This article describes issues involved with having a cash business, including accepting payments, paying employees, and taxes.
Counterparts and Legally Binding Signatures
Counterparts are legal copies of a document. This article discusses types of counterparts and what types of signed documents are legal.
Form 941 - Form 941 2012
The 2012 Form 941 has changed. Here are the changes in Form 941 for 2012.
What Does "Doing Business As" Mean?
What are FICA taxes? Social Security and Medicare Taxes
FICA taxes explained, including withholding rates, how to calculate FICA taxes, reporting and paying FICA taxes to the IRS.
FIFO (First-In, First-Out) Inventory Cost Explained
An explanation of FIFO inventory costing, with an example, and FIFO compared to other inventory costing methods.
How Leverage Can Benefit Your Small Businesses
The concept of leverage is useful for businesses. How a business can use leverage to fund growth and development.
What is Lending? What are Lenders?
A discussion of types of lenders for business loans, and how to match your business loan needs with the right lender.
What Is a Limited Partnership for a Business?
The limited partnership is described, examples of limited partnerships, tax and liability issues, and comparison with other partnership types.
Litigation and Business Disputes
A description of the process of litigation, particularly civil litigation, and how businesses can become involved in the litigation process.
How the Mediation Process Works to Resolve Disputes
This article describes mediation, the mediation process, and how mediation differs from arbitration. How mediation is used in business situations.
What Is an SBA 504 Loan?
Information on application and eligibility for SBA 504 loan program for buying land and buildings, with the help of Certified Development Companies.
What Is Overtime and How Is It Calculated and Paid?
New requirements for paying overtime to exempt salaried employees and how overtime is paid and calculated.
OASDI Explained for Employers and Small Business Owners
What is OASDI (Old Age, Survivors, and Disabled Insurance) or Social Security tax, and how it affects employers and small business owners.
What is OSHA? What Do Employers Need to Know About It?
Occupational Safety and Health Act (OSHA) regulations, including hazardous substances, blood-borne pathogens, and emergencies, and employee training.
Loan Principal Questions and Answers
How the principal on a loan works, how the principal changes as the loan is paid off, and how loan principal and interest affect business taxes.
Professional Corp vs. Personal Services Corp.
The differences, advantages and disadvantages of a professional corporation vs. a personal services corporation are discussed.
What Is the Definition of the Term "Payroll"?
An overview of payroll, how it works, and about payroll taxes. Recordkeeping and related payroll terms also are discussed.
The Difference Between Full and Part Time Employees
A discussion of the difference between full-time and part-time employees, and why it's important to differentiate between these types of employees.
Form 941 - Form 941 2011
The 2011 Form 941 has changed. Here are the changes in Form 941 for 2011.
What Does "Limited Liability" Mean to a Business Owner?
How to Protect Your Business from Fraud
A definition of fraud, some types of fraud, and some ways a business can protect itself from fraud.
Series LLC Benefits and Drawbacks for Your Business
This article defines the term series LLC, discusses how a series LLC operates and the types of situations in which a series LLC might be a good idea.
Backing up Your Business Data - Business Data Backup
how to back up your computer files and business record keeping system.
Common Monthly Business Expenses
Many businesses have common monthly expenses. Check to make sure you are taking these expenses, and keep good records, to save on business taxes.
How to Set Up a Collections System
Monitoring receivables, billing, collections and setting up processes is a key to keeping your business profitable. Here is the way to set up this system.
How to Keep Personal and Business Funds Separate
Why it's important to keep business and personal funds separate, and some tips for separating these funds.
Information Needed for a Business Loan Application
Lists information you will need for in a business loan application, including a detailed business plan.
What Is a Statutory Employee? (Definition)
How the IRS defines a statutory employee, how to hire and pay a statutory employees, and how a statutory employee pays income taxes.
What is a Small Business Investment Company - SBIC
This article provides information about SBIC's (Small Business Investment Companies) and how a small business can get SBIC financing.
Statutory Damages in Intellectual Property Law
Statutory damages for infringement in intellectual property cases, especially copyrights and trademarks.
What is a Variance? How Do I Get a Zoning Variance?
What is a zoning variance, why your business might need one, and how to get a zoning variance for a home-based business.
Workers Compensation - The Basics for Employers
The article features a definition of worker's compensation and 7 facts about how worker's compensation affects employers.
Zoning and Your Home Business Location
All about zoning, types of zoning, how to get a zoning permit or variance, and how zoning affects home businesses.
How Do I Report Large Cash Transactions on IRS Form 8300?
The IRS wants to know if your business accepts significant cash payments and expects you to report them on cash transaction reports known as Form 8300.
How to Complete Schedule C - Step by Step
Unsure how to complete a Schedule C form? Read on for a Schedule C example, and where and how to file this self-employment tax form.
Getting a Business License or Business Permit
A discussion of how to get a federal, state, or local license or permit, including agencies and government entities to contact.
Tax ID / Employer ID Number Application
Here are the steps for completing the Form SS-4 to get a Tax ID Number for a new business.
Do I Need a Health Permit for my Business?
A discussion of businesses that must have health permits, businesses that don't need health permits, and how to get a health permit for a business.
How to Collect, Report, and Pay State Sales Taxes
How to register with your state, collect state sales taxes from customers, file state sales tax returns, and pay sales taxes you have collected
Garage / Yard Sales - Tax Issues, Licenses & Permits
Garage sales and yard sales must pay sales and income taxes. They must also comply with local regulations for business licenses and permits.
How to Present a Business Loan Proposal
To be successful at getting a business loan, review these tips for talking to lenders. What to do before, during, and after a loan presentation.
5 Key Steps to a Successful Business Loan Proposal
Follow these key planning steps to prepare a successful business loan proposal for starting a business or business expansion.
Personal Guarantee Insurance for Business Loans
Many small businesses need financing in the form of loans. Learn how business owners can protect personal asset with personal guarantee insurance.
Cash vs Accrual - Which Accounting Method Should I Use?
Cash accounting and accrual accounting compared, how each works, restrictions, and end of year transactions.
Changing Your Business Address? Who to Notify
Moving and need to change your business address? How to notify appropriate agencies about your change, whether you are moving in town or out of state.
What Makes a Sole Proprietor So Unique?
This article discusses the differences between a sole proprietor type of business and the other business types - partnership, LLC, and corporation.
What is a Joint Venture and How Does It Work?
Information about a joint venture with examples, how to form a joint venture, and how a joint venture pays taxes.
Register a Foreign Limited Liability Company (LLC)
How to register a foreign limited liability company in another state, including tips on how to register, whether you are doing business in that state.
Business Trade Name Registration - How and Why to File
The terms trade name and fictitious name explained, and information on the Fictitious Name and DBA filing process.
Questions to Ask Before Starting a Home Business
Tax and legal issues involved with setting up a business in your home, including home office deductions, travel, zoning, and financing.
Business Permits - Local Business Permits
Lists the types of local licenses and permits a business might need, including health permit, zoning permit or variance, building permit.
What is a DBA - Fictitious Name?
This article describes a DBA or fictitious name statement, when a DBA is needed, and briefly how to register a DBA.
How to Register a Business Name
How to register your business name with your state, and how to file a fictitious name (D/B/A) statement.
Deductible Non-Cash Fringe Benefits for Executives
A look at fringe benefits provided to executives, the ability to deduct the benefits as expenses and the taxation of the benefits for the employee.
Research To Be Sure You Can Use Your Business Name
You have found a business name you want to use. Now what? Some places to check to see that you aren't using someone else's business name.
Types of Business - Types of Business
Guide to types of business, including factors in selecting business types, taxes, liability, and special circumstances for selecting business types.
How to Get a License to Do Business
What is a business license? Do I need a business license? Where do I get a business license? Your questions about business licenses answered.
Withholding Payroll Taxes - Wages for Withholding
An explanation of the wages used to calculate withholding for federal income tax (FIT) and FICA taxes (Social Security and Medicare taxes).
Mixing Business & Personal Travel - What's Deductible?
Traveling for business? Want to take your family along? Traveling overseas? Know what's deductible and what's not.
Should Your Business Give Cash or Assets to a Charity?
Learn the difference between donating equipment or furniture or making a cash donation and how each will affect your business at tax time.
6 Tips to Help You Prepare Form 1099-MISC
Before you prepare and send 1099-MISC forms to contract workers and the IRS, do these 6 tasks to make sure the task is done right.
Do Retailers Have to Charge Online Sales Tax?
Do online retailers have to charge sales tax for online transactions? Information on state laws and possible federal legislation.
Tax Avoidance and Tax Evasion - What is the Difference?
The difference between tax evasion and tax avoidance, examples of tax evasion, and how to avoid tax evasion charges at an IRS audit.
What's a Registered Agent? Why Your Business Needs One
What a registered agent does and why your business needs this service.
How to Hire an Attorney on Retainer
Retainer defined, including legal retainers for paying an attorney, retainer letters, and retainers for other professionals.
What are the Benefits and Drawbacks of Arbitration
Benefits and drawbacks of arbitration
How to Process Payroll and Payroll Taxes
Tasks involved in processing payroll, including determining pay, calculating withholding and deductions, and setting aside payroll taxes.
What Is Restraint of Trade?
Definition of restraint of trade law, an example in English law, and restraint of trade in non-compete agreements
How To Make a More Effective Appearance in Court
How you act and what you wear in a courtroom can influence your case or your testimony. Some tips for courtroom etiquette and dress.
How Do I Bill Customers and Get Paid?
When you start a business, one of your first tasks should be to decide how you will collect money from customers. If you don't get your money directly from credit cards or cash, you may need to bill these customers to collect your money.
What Is Tax Court and How Does It Work?
An attorney and former IRS agent, Scott Estill, describes tax court processes and procedures and answers common questions about tax court.
What is Unclaimed Property and How Do I Deal with It?
How to treat unclaimed property, including unclaimed paychecks, for accounting purposes, and how to comply with state laws for unclaimed property.
Difference Between Payroll Taxes and Employment Taxes
A discussion of payroll taxes and employment taxes and what is included in these taxes by the IRS, for employers.
Including Cost of Goods Sold on a Business Tax Return
How cost of goods sold is calculated and included on business tax forms for sole proprietors, partnerships, LLCs, and corporations.
Where Do I Send W-2 Forms?
Send W-2 forms for all your employees to the Social Security Administration -- not the IRS! -- by February 28, along with a Form W-3 summary transmittal.
10 Facts You Should Know About Business Assets
All about business assets, including types of assets, what records to keep, taxes and capital gains taxes, and assets as collateral.
8 Ways to Save on Your Business Taxes
What you can do now to save on business taxes, including depreciation, retirement plans, timing income and expenses, and more.
Year-End Payroll Tax Tasks for Employers
Year-end payroll tasks, including checking employee information and preparing for W-2 forms and 1099-MISC forms for annual tax reports.
Your Complete Guide to Deducting Employee Expenses
A guide to expenses related to employees and how to deduct them. Also, what expenses may be taxable to employees.
Correcting an Incorrect W-2 and W-3
Common errors made in W-2 and W-3 forms and how to correct them for the IRS using Forms W-2C and W-3C.
How to Prepare 1099-MISC Forms - Step by Step
Describes the information you need and the process of completing the 1099-MISC form for non-employee workers.
Commercial Leasing Terms You Need to Know
Some common leasing terms to help you negotiate a commercial real estate lease, including CAM, build-out, lessor, lessee, and more.
How to Do Local Market Research
If you are selling to a local market, you need to do some market research. Learn about the steps in market research & tools to help you do research.
Net Income, Earnings or Profit - What's the Difference?
Net Income, earnings, and profits are explained, including how net income or profit is shown on a business financial statement.
Net Operating Loss (NOL) - Business Law Definition
How a net operating loss is calculated and how a net operating loss can be used to offset profits in previous or future years.
What is a Tax Nexus in a State?
Describes the term tax nexus and how it affects business income taxes, online businesses, and sales taxes.
Notary Public Definition and Information
A notary public is defined as an official in a state who can perform certain legal duties. More information about how a notary public works.
5 Tips for Reading a Business Contract
5 tips for reading read a business contract to avoid pitfalls and problems. Ask what is missing, don't assume, get a second opinion, and more.
Negligence - Definition in U.S. Business Law
Negligence defined with examples, including standard of care, contributory negligence, comparative negligence, and assumption of risk.
Health Care Law - FTE - Full-time Equivalents
Defines the term
What Kinds of Business Contracts Must Be in Writing?
Why business contracts should be in writing and some contracts that must be in writing, according to the statute of frauds.
Before Signing a Commercial Real Estate Lease
Attorney Susan Dawson discusses 10 factors you need to consider before you sign a commercial real estate lease.
Tax Differences Between an S Corporation and an LLC
A CPA discusses taxes for S Corporations vs. LLCs.
Changes to Obamacare for Large and Small Employers
Current information about the Affordable Care Act for employers, including changes in the employer mandate and reporting on employee coverage.
Can I Enter Into a Contract With a Minor?
Discussion of the issues related to entering into a contract with a minor, and some suggestions to avoid issues if there are problems.
Basics of Business Contracts and Agreements
Basics of contracts and agreements, including why contracts are needed and 6 requirements for a valid contract.
Affordable Care Act (ACA) and Your Small Business
How does the new health care law (Obamacare) affect both small and large employers, including health plans for employees and reporting provisions.
Obamacare and Small Businesses
A review of new provisions of the Affordable Care Act (Obamacare) and positive - and negative- effects on small businesses.
Employer Shared Responsibility Provisions of Obamacare
Employer Shared Responsibility payment and reporting requirements for larger employers under Affordable Care Act (Obamacare).
Filing a Tax Extension for Your Business Taxes
How to file a business tax extension, including deadlines, length of time for the extension, and which form to use for an extension application.
Independent Contractors - Benefits and Drawbacks
Benefits and drawbacks of being an independent contractor, including taxes and contracts.
What is an Injunction? How Does Injunctive Relief Work?
An injunction is a court order prohibiting an action. How an injunction works and when an injunction is used, including types of injunctions.
What Is an Invoice and What Does It Include?
Find out the definition of an invoice, how to prepare one for a customer, and why they are such an important business accounting document.
Basic Guide to Corporate Income Taxes and Form 1120
This article provides a general outline of the information required on Form 1120 - U.S. Corporation Income Tax Return, including schedules.
Amortizing Intangible Assets Under IRS Section 197
How intangible business assets are amortized, based on Section 197 of the Internal Revenue Code. Section 197 applies only to some intangibles.
Implied Contracts and How to Avoid One
What is an implied contract, why implied contracts are binding on both parties, and how to avoid making an implied contract.
What Is a Retainer Fee for an Attorney?
Attorneys charge different fees depending on the type of cases they're handling. Learn about retainer fees, flat fees and contingency fees.
Arbitration - How the Arbitration Process Works
Describes arbitration as compared to litigation and mediation, and how the arbitration process works, including steps in the process
How to Incorporate in Colorado
How to incorporate in Colorado, including information necessary to file Articles of Incorporation with the state of Colorado.
How to Deal with Unclaimed Paychecks in Your Business
Describes the principle of escheat and the state requirements for returning paychecks to employees.
How to Incorporate a Business in Illinois
How to incorporate in Illinois, including information necessary to file Articles of Incorporation with the state of Illinois.
Who Can Prepare My Business Income Taxes?
Types of tax preparers who can help businesses with tax returns, including Enrolled Agents, accountants, and Certified Public Accountants (CPA's).
What Is An Indemnity Agreement?
Wondering what Indemnity agreements are? Here's what they are, how they work, and where they are found in contracts and insurance contexts.
The Concept of Indemnity in Business Contracts
The concepts of indemnity and
The Best Way to Fire Your Accountant or CPA
Want to fire your accountant or CPA? Or any business advisor? What to do before you fire, and the process of firing.
How Do I Pay My Business Income Taxes?
Payment methods for sending business income tax payments to the IRS, including electronic funds transfer and mail.
Paying Business Taxes by Installment - Installment Payment Option - Tax Payment Plans
Provides information on paying business taxes using an installment payment plan
Tax Time - Save Money at Tax Time
Tips on saving money at tax time by being prepared, having documentation ready, and filing and paying on time.
Common Business Tax Return Errors and Corrections
Before you file your business tax return, check for these common errors. Fix common errors by filing an amended tax return or contacting the IRS.
Schedule C or Schedule K-1 in Personal Tax Return
How to include your business tax information in your personal tax return, with emphasis on Schedule C, LLC K-1, and Schedule SE.
How Your Business Make a Profit and Have No Cash
Why cash and profits aren't the same, why cash flow is more important than profits, and how to use a cash flow worksheet to manage cash.
Sorting Out Sales Taxes for Amazon Sellers
Information to help you get started dealing with state sales tax, including online taxes, tax rates, seller's permits, and more.
Employer-Provided Commuter Benefits and BusinessTaxes
Commuting expenses for employees, including transportation, transit passes, and bicycle commuting - what's taxable, what's deductible?
7 Tax Tips on Driving for Business
If you are driving for business, as a business owner or employee, these tips can help you save money at tax time and avoid audit issues.
Payroll Tax Calendar
A month-by-month payroll tax calendar to help you keep track of what's due and when. The calendar doesn't include state payroll taxes, but you can add those.
Background information and terms you will need before you begin to set up your payroll system.
New Hire Forms - Hiring Employees
Before you hire your first employees, you need to know the forms required to be signed and the federal and state registration process for employers.
New Hire Forms - I9 Form
Forms new employees must complete at hire, including Form I-9 to verify employment eligibility, and Form W-4 for federal income tax withholding, and forms for state income tax withholding.
Background information and terms you will need before you begin to set up your payroll system.
Payroll Register - Employee Earnings Record
After you have completed a payroll calculation and paid employees, you must transfer the information to a payroll register for all employees and employee earnings records for each employee.
Payroll Taxes - Form 941
This section discusses the types of payroll tax reports you must file and payroll tax payments you must make to federal and state agencies.
Payroll Processing - Setting Up a Payroll Processing System
In this step, some suggestions for setting up a payroll system, using accounting software, or hiring a payroll processing service.
Setting Up Your Payroll Tax System Step by Step
Background information and terms you will need before you begin to set up your payroll system.
Payroll and Payroll Taxes - Step by Step
Background information and terms you will need before you begin to set up your payroll system.
Filing Extension - Filing Extension for Business Taxes
How to file an extension for your business taxes, rules and deadlines, instructions, and common questions about extensions.
Estimate Taxes for Extension - Pay Taxes for Extension
Estimate and pay any taxes owed by the tax return due date.
How to complete Form 4868 or Form 7004 for an extension application for your business taxes.
Tax Extension Errors - Check for Tax Extension Errors
How to file an extension for your business taxes, including extensions for sole proprietors filing Schedule C with personal tax returns, partnerships, LLCs, and corporations.
Filing Tax Extension - Filing Extension Online
Options for filing a tax extension, including online filing.
Tax Extension Questions - Common Questions about Tax Extensions
Answers to some commonly asked questions about tax return extensions.
Business Tax Changes 2015
Changes in small business taxes for the 2015 tax year, including Social Security maximum tax, IRS mileage rate changes, depreciation and Medicare taxes.
Business Taxes - Questions about Filing Business Taxes
Answers to commonly asked questions about filing business taxes, including: When is the tax return due? What form do I use? How do I file business taxes? How do I complete Schedule C? How do I calculate Cost of Goods Sold? What about state income taxes?
Business Licenses and Permits
Business licenses and permits may be required by federal, state, and local authorities. Here's a guide to types of licenses and permits.
Paying Estimated Taxes on Business Income
Business owners can't wait until filing a return to pay their taxes. Learn when to pay estimated taxes, how much to pay, and more.
Moving Your Business? Use This Checklist
Is your business moving? Here's a checklist of agencies and individuals to notify, changes that will be needed in business documents, and more.
All the Types of Employment Taxes
Types of employment taxes, including federal income tax withholding, FICA tax (Social Security and Medicare), state income tax, federal unemployment tax, state unemployment tax, workers compensation
6 Resolutions to Get Your Business Back on Track
6 business tax and finance resolutions, including budgeting, business record keeping, disaster planning, payroll system, company records
Small Claims Court - Small Claims Process
Find out what happens in small claims court and learn some tips for making your court appearance successful.
The S Corporation - Your Questions Answered
All about s corporations: How to form an S corp, compared to LLCs and corporations, advantages and disadvantages of s corps.
First Steps to Starting a Business
First steps to starting any business: Begin with a business name, then a location, then go on to registering, financial, legal and marketing tasks.
Tax Forms and Processes for Business Types Explanation
How each business legal type pays income tax, including forms and processes.
Small Business Tax Deductions Guide
Lists small business tax deductions, including accounting, home office, car and truck, travel, employee benefits, meals and entertainment. benefits,
How to Create a Startup Costs Worksheet
How to prepare a startup costs worksheet for your new business, for your own use or for a business loan.
Simplified Taxes for Self-employed Business Owners
Simplified business tax return preparation and filing for self-employed business owners. Using tax software, calculating taxes, getting tax advice.
Children as Employees - Hiring Children
If you are hiring children as employees, you need to know about child labor laws, new hire paperwork, and payroll taxes.
What is Backup Withholding?
What is backup withholding, what are rules? Including how to make payments, and how to report on Form 945.
What is Supplemental Wages Withholding?
Supplemental wages are defined, including a description of supplemental withholding. and shows the current supplemental withholding rate.
What Are Business Property Taxes, Real Estate Taxes
Business property (real estate) is explained - how property taxes are assessed and what portion of these taxes is a deductible business expense.
Why Your Business Needs a Separate Checking Account
Why you should set up a separate checking account for your business, to keep business and personal expenses separate.
What's a Registered or Fictitious Name, or Trade Name?
Discusses the difference between a registered name, trade name, and fictitious name for a business, and how a business can register a trademark.
Do You Know These 8 Basic Facts about Corporations?
Fundamental facts about corporations, including how a corporation is formed, who owns a corporation, and how a corporation pays its taxes.
Schedule C for Small Business Taxes
This article contains information on Schedule C and Schedule C-EZ, including how to include Schedule C information on personal tax returns.
How Do I Complete Form 1040X for Schedule C Changes
This article explains how to file Form 1040X, for changes in Schedule C - Small Business Profit or Loss.
Payroll Terms Employers Need to Know
Payroll terms you should know about, including gross pay, net pay, withholding, deductions, salaried vs hourly, and exempt vs non-exempt employees.
Why Your Partnership Needs a Written Agreement
Definition of a partnership agreement and why a partnership agreement is important.to a partnership agreement.
Pass-Through Taxes Definition and Business Types
Pass-through taxes and the tax effect of the pass-through process for sole proprietors, partners, and LLC members.
Partnership Tax Returns - Business Tax Law
A discussion of all the taxes a partnership pays including income taxes, self-employment taxes, and usual taxes paid by other businesses.
Unpaid Payroll Tax Penalties and Fines for Businesses
An in-depth look at fines and penalties imposed on businesses for failure to report and pay payroll taxes and other related payroll-tax penalties.
Frequently Asked Questions About Forming an LLC
Answers to questions about starting an LLC, including documents needed, how to register with your state, and how to create an operating agreement.
Business Mileage Deductions FAQs
Discussion of business mileage, including standard mileage vs. actual, how to calculate it, and answers to various other questions.
Paying BOTH Self-employment Tax and FICA Tax
If you are self-employed and also have employment income, here's how Social Security and Medicare taxes are withheld, determined and paid at tax time.
How Does a Sole Proprietor Get Paid?
How a sole proprietor gets paid, by taking a draw from the business checking account. How taxes are paid on the sole proprietor's income.
What Car Expenses Can I Deduct for Business Driving?
Business owners and employees can deduct expenses for use of a car for business purposes, but these deductions are limited, and good records must be kept.
10 Common Small Business Tax Deductions
Common small business expenses you can deduct from your taxes include travel, entertainment, professional fees, office supplies and depreciation,
NEW W-2 and 1099 Deadlines for 2016 Payroll Tax Reports
New earlier payroll tax report deadlines for 2016 wage and tax reports, Form W-2 and Form 1099-MISC, and other payroll tax reports due January 2017.
Questions about Small Businesses and Agreements
Attorney Elizabeth Lewis answers commonly asked questions about business agreements and why every small business owner needs them.
3 Ways to Make Sure Your Tax Extension is Accepted
3 reasons why your income tax extension application was rejected, how to fix these reasons, and what to do if your extension is rejected anyway.
How Does an Appraiser Do an Appraisal on a Business?
How an appraiser works, types of appraisals, ways to value a business. How to find a business appraiser.
What is the Federal Unemployment Tax (FUTA)?
Federal Unemployment Tax (FUTA) is explained, including due dates, and how FUTA taxes are reported to the IRS.
How and When to File an Extension on Business Taxes
When extension applications must be filed and when extended tax returns are due. You can't extend the due date more than once.
Tax Return Dates for Business Taxes
April 18, 2016, is federal income tax return due date for sole proprietorships, LLCs, partnerships. March 15 is due date for corporations.
How to Prepare W-2 Wage and Tax Statements
How to gather information and prepare W-2 forms for employees, include due dates and filing tips.
Chapter 13 Bankruptcy for Small Business
Chapter 13 bankruptcy explained: Chapter 13 bankruptcy is available for individuals with small businesses filing as sole proprietors.
Partnership Tax - Partnership Income Taxes
A guide to filing federal partnership tax returns, including documents needed, due dates, forms, filing an extension or amended return.
Partnership Taxes on Form 1065 - Information You Need
Describes the information needed to prepare Form 1065 for a partnership or multiple-member limited liability company (LLC).
How to Set up a Yearly Payroll Tax Calendar
A payroll tax calendar that takes you month by month through the payroll tax tasks you must complete each year.
Tax Records Needed to File Schedule C
Tax filing documents needed to prepare Schedule C include: business income and expense records, asset records, business use of home documentation.
What You Need to Know to File Schedule C
Before you file Schedule C for small business taxes, information you need to know, including what documents you need and how to complete the form.
How to Pay Your Business Tax Bill
If you have a large business tax bill to pay, some ways to pay if you don't have money, including IRS payment plans, borrowing, or using credit cards.