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
Carolina Hurricanes. San Jose Earthquakes. Chicago Fire. Colorado Avalanche. Am I talking about sports teams? No. I’m talking about the disasters behind the names. Disasters cause massive losses and often cost far beyond what insurance can cover. When the federal… Read More »Can I use my Retirement Funds after a Disaster?
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 Buy a property with some wear and tear and outdated décor at a low price, fix the problems, make it look nice, and resell it… Read More »Property Flipping: Record-keeping to Pay the Least Taxes
Can you lose money and owe taxes when you lost money? Yes, you can! But how can you owe taxes on a loss? If you trade the same stock, bond, crypto, or other investment back and forth several times, your… Read More »Paying Taxes on a Loss: The Hidden Dark Side of Internet Trading
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
The Secure Act 2.0 was passed in December 2022 and made a lot of changes to what you can do with your retirement money. The first Secure Act in 2020 allowed for a $5000 penalty-free hardship distribution for the birth… Read More »Can I Use My Retirement Money if I Have a Baby?
Your 1099K is on hold again. It isn’t coming. I knew it. As the end of the year grew closer, I started writing blogs and planning strategies to deal with the incoming 1099K nightmare. I was figuring ways to reconcile… Read More »The 1099K On Hold Again
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?
