- IRS Allows Tax Payments By Credit Card
- Starting this year, business owners will be able to pay employment taxes -- Forms 940 and 941 -- with plastic.
- What Small Employers Need to Know about Employment Taxes
- Don't be remiss on paying employment taxes. Here's what you need to know about having employees and the associated responsibilities you have to the IRS.
- Payroll Tax Strategy
- Hire a payroll service to ensure you're making payroll tax filings.
- Expense Accounts for Travel and Entertainment
- If you cover your employees' business travel and entertainment expenses, set up an "accountable plan." It will save you and your employees money.
- Stretching Your Benefits Dollars
- Providing employees with a flexible spending account can give them and the company attractive tax benefits, along with a way to help them meet their medical care needs.
Personal Taxes
Here are strategies for reducing your audit risk and protecting your personal wealth.
- A Charitable Tax Break
- Setting up your own private charitable foundation lets you give to your favorite causes and reduce your current income tax in the process.
- John Menard's Tax Crackup
- When the home improvement magnate paid himself $20 million, the IRS slapped him -- hard. If your salary is too high, you could be next.
- Self-Employed as Audit Targets
- The IRS claims that most tax cheats are in the ranks of the self-employed, so it's not surprising that this group is more closely scrutinized than wage earners.
- Reduce Your Audit Risk
- Your odds of getting audited by the IRS are much higher as a business owner than if you were a corporate employee. Here are the biggest personal audit risks you may face, and what you can do about them.
- Audit Survival Tips
- Twenty tips for surviving an audit.
- Pay Yourself Right
- Hefty owner compensation raises a red flag with the IRS. Understand the consequences of an inflated salary and how you can protect yourself from an audit in case you're questioned.
- Cover Your Assets
- Estate taxes can kill a fast-growing company by forcing heirs to sell in order to meet high tax liabilities. Doing a little planning now may ensure that your business survives and prospers even after you're gone.
- Tax Benefits for Worthless Securities
- Own any stocks in or bonds issued by defunct dot-coms or other companies that went under? The tax law can help provide a bit of relief.
- Smart Ways to Put Money into Your Small Corporation
- If your business needs a cash infusion, consider putting the money in yourself, but make sure that you add these new funds in a tax-advantaged way.
Tax Bills
Can't pay your tax bill? Here are a few strategies for reducing and eliminating tax debt.
- Let's Make a Deal
- If you find yourself in hot water with the IRS, don't fret. In some instances, you may have an opportunity to negotiate a reduced settlement.
- IRS Installment Payment Plans
- Negotiating a payment plan with the IRS might sound like a great option, but weigh its pros and cons before you consider it.
