In this series, I covered income tax, franchise tax, property tax, sales tax, and payroll tax but there is more. Much, much more. It is mind boggling the amount of other taxes, licenses, permits, and fees that local governments charge… Read More »BUT WAIT, THERE’S MORE! OTHER BUSINESS TAXES
One day, I got a call from a lady who got a reminder letter to pay her Franchise Tax. “Why do I have to pay this? We don’t own a franchise. We have our own store.” It sounded so obvious… Read More »Franchise Tax
I had a client come to me and tell me they had an employee and were taking taxes out but didn’t know what to do next. I asked how long. Two years. She had an employee for two years and… Read More »Payroll Taxes
I paid income tax when I earned the money, then I paid sales tax on this when I bought it, are you telling me I have to pay tax on it again? Every single year? If you live in one… Read More »Business Property Tax
One of the scariest things a new client has said to me: I started a business last year. I’ve been charging tax, but I’m not sure what to do next. I guess we will figure that out when we do… Read More »Business Sales Tax
I need to pay my taxes. That’s where most of my small business clients start. You start a little business, you make a few sales, then you come to me in the spring to pay your taxes. This is… Read More »Business Income Tax
Does thinking about business taxes make you feel like you are in a bad AI graphic where nothing makes sense? Things I hear from clients: I started a business a few months ago, but I don’t know anything about taxes.… Read More »What Business Taxes Do I Pay?
Property flipping has been a popular side hustle since the housing market crash in 2008. Buy a property with some wear and tear and outdated décor at a low price, fix the problems, make it look nice, and resell it… Read More »Property Flipping: Record-keeping to Pay the Least Taxes
Did you get a thousand phone calls telling you that you get $26,000 per employee from the government? Free money, no catch? They probably said it was a new program and you qualified for the Employee Retention Credit right there… Read More »Employee Retention Credit – Real Updates on ERC
2024 Update for Small Business Taxes Be sure to complete this list before you file your 2023 small business taxes in 2024. Scroll down to watch my video. 1. Income Checkup – If you are going to owe over $1000… Read More »Nine Things to do BEFORE you File your Small Business Taxes
Arkansas Sales Tax is the most confusing tax in the most confusing state. Should you be charging sales tax? Sales Tax law applies to You I am always surprised at the number of people who come to me who have… Read More »Should I Be Collecting Arkansas Sales Tax?
Why are you going to the liquor store? – A real-life look at business tax deductions One day, my staff bookkeeper asked me, with a stack of receipts in hand, “Why are they buying booze?” My first thought was, because… Read More »Is the Liquor Store a Tax Deduction?
How do I report my Uber and Lyft income? Rideshare driving is so confusing. Most jobs are fairly simple: Here’s your form, plug in the numbers, taxes are done. Rideshare driving is different. You are self-employed. Why? Because they don’t… Read More »Taxes for the Gig Economy
Every entity formed by the state needs a Registered Agent. All nonprofits, small LLCs, corporations, and any other entity formed by your Secretary of State needs one. Entities are not Humans An entity formed by the state (LLC, corporation, etc.)… Read More »What is a Registered Agent?
“Remember to deduct my home office expenses, Diane.” “I had to work at home since March. I can deduct all my housing expenses because I work at home, right?” No. “My home is my office. It’s all deductible, right?” No.… Read More »Can I Deduct my Home Office Expenses?
