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What Should You Do about Charitable Giving?

By Barbara Weltman |  Apr 1, 1999

Charitable giving is encouraged by the IRS, but there are limitations to what you can deduct from your taxes for this act of generosity.  Read story

Midyear Tax Planning for Small-Business Owners

By Barbara Weltman |  Jul 3, 2000

Now's the time to review your tax picture for the current year. This will allow you to take actions that can reduce your 2000 taxes. These actions can als...  Read story

Handling Commuting Costs: Employer and Employee Perspectives

By Barbara Weltman |  May 2, 2001

Generally the cost of commuting to and from work is not deductible by an employee. However, certain payments by employers-called qualified transportation ...  Read story

Who Should Own the Business Car?

By Barbara Weltman |  Jan 9, 2003

Who should own your business car -- you or your corporation? The answer depends on several tax and non-tax factors. Here are some things to consider in ma...  Read story

Writing Off the Cost of Business-Related Debt

By Barbara Weltman |  Aug 2, 2001

To buy equipment and run your business, it's inevitable that you'll incur debt at some time or another. Generally, interest on business loans is fully ded...  Read story

Tax Incentives for Hiring in a Tight Labor Market

By Barbara Weltman |  Jun 3, 2000

Having trouble finding employees? The tax law provides incentives for hiring certain individuals you might not otherwise have considered. W...  Read story

How Can My Employees Pay for Medical Coverage on a Pretax Basis?

By Barbara Weltman |  Jan 31, 2000

Q: I have a small business and can't afford to pay for my employees' medical coverage. I've heard there's a way that my employees can pa...  Read story

Keeping Business Records for Tax Purposes

By Barbara Weltman |  Jan 1, 2003

There's no time like the present to start getting your paperwork in order for next year's tax season.  Read story

Smart Ways to Put Money into Your Small Corporation

By Barbara Weltman |  Jan 1, 2003

Your corporation may need a cash infusion to sustain its operations. Instead of seeking new investors or a loan from a commercial lender, you may put the ...  Read story

Do Sole Proprietors Need an Employee Identification Number?

By Barbara Weltman |  Jan 31, 2000

Q: I'm starting a business as a sole proprietor. I don't plan to have any employees. Do I need an employee identification number, or can...  Read story

Covering TE Expenses

By Barbara Weltman |  Jan 1, 2003

If you cover your employees' business travel and entertainment expenses, start the new year off right by setting up an "accountable plan." This type of pl...  Read story

What Will It Cost Me to Hire an Independent Contractor as an Employee?

By Barbara Weltman |  Jan 31, 2000

Q: Currently I use independent contractors in my business. What is the additional cost of making them my employees? A:Read story

What to Discuss at Year-End Board Meetings

By Barbara Weltman |  Dec 1, 2000

Before the end of the fiscal year (e.g., December 31 for calendar-year corporations), boards of directors of small corporations should meet to discuss a w...  Read story

Simplified Rules for Required Minimum Distributions

By Barbara Weltman |  Feb 22, 2001

Proposed Treasury regulations released in mid-January [ 2001] greatly simplify computations for required minimum distributions (RMDs) from qualified retir...  Read story

Revisit Your Method of Accounting

By Barbara Weltman |  Aug 3, 2000

The accounting method used by your business governs the timing of reporting income and expenses. The two main methods are the cash method and the accrual ...  Read story

What Small Employers Need to Know about Employment Taxes

By Barbara Weltman |  Mar 13, 2000

If you have any employees (including yourself if your business is incorporated), you'd better comply with employment tax requirements in order to avoid pe...  Read story

Tax Elections for Small-Business Owners

By Barbara Weltman |  Jun 1, 1999

While many tax rules are automatic, there are a number of instances in which owners can choose their tax treatment. Here's a listing of some elections ava...  Read story

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