Franchise Tax
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
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Payroll Taxes
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
Business Property Tax
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
Business Sales 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
Business Income 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
What Business Taxes Do I Pay?
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?
Business Expenses and Deductions
“I can deduct that?” Small entrepreneurs come to me with their business expenses and deductions, and I always ask: What about this? And this? And that? Deer-in-the-headlights. And then I assign the homework of going back and finding all ‘those’… Read More »Business Expenses and Deductions
Arkansas Commercial Property Tax Assessment
Arkansas has NOT extended the deadline to assess your property in 2020. The May 31 deadline to assess all property stands. Since that is on a Sunday, the deadline is Monday June 1. What is Property Tax? Property tax is… Read More »Arkansas Commercial Property Tax Assessment
Everything You Want to Know About Form 1099
Why Would I Have to Send a 1099 to Someone? (Updated for January 2021) IF 1 – You have a business and business expenses AND 2 – One of your expenses is paying a person (or people) to do work… Read More »Everything You Want to Know About Form 1099
Why can’t I deduct my credit card payments?
How do I deduct my credit card payments? This is a very common question in my office and not an easy concept. Taxation is not based on cash flow. What is Cash Flow? Cash flow is the immediate feeling… Read More »Why can’t I deduct my credit card payments?
