A self-employed individual expects to pay taxes on profits from their business. Unfortunately, [...]
Due to outrageous gas prices, the IRS will increase mileage rates for the [...]
If your business makes sales in Stark County, Ohio, please take note of [...]
Former Central Ohio television news anchor, Anietra Hamper, lost her deduction for business clothing in tax court (Hamper, TC Summ. Op. 2011-17). The tax court ruled that regardless of her wearing certain attire only on TV, such items were not consistent with the definition of ordinary and necessary use for business the services uses for what is an allowable deduction. Hamper claimed her employer required her to maintain a professional appearance and to keep abreast of breaking news events as good reason for the deduction.
Employing family members is a big advantage of having your own business. But [...]
Wednesday, June 9, 2010 1:00pm - 3:00pm The Jackson-Belden Chamber of [...]
Most business owners start companies because they enjoy the core of their business, [...]
Obama signed the Hiring Incentives to Restore Employment (HIRE) Act on Thursday! This Act provides employers with the opportunity to receive two new tax benefits when they hire workers who were previously unemployed or only worked part-time. Although household employers are not qualified to receive the benefits, businesses, agricultural employers, tax-exempt organizations and public colleges and universities are. So, before you start hiring, here are some things to think about...
Beginning on January 1, 2010, the standard mileage rates are as follows: 50 [...]
When you hire someone to work in your business, that individual will either be an employee or independent contractor for tax purposes. Failure to properly classify the worker can subject you to an IRS audit and possibly interest and penalties for failing to withhold and deposit payroll taxes.