Four Things to Know about Taxes and Starting a Business

New business owners have tax-related things to do before launching their companies. IRS.gov has resources to help. Here are some items to consider before scheduling a ribbon-cutting event. Choose a business structure When starting a business, an owner must decide what type of entity it will be. This type determines which tax forms a business …

RETIREMENT with Social Security

If you have not already done so, go to www.ssa.gov and create a mySocialSecurity online account.  Here you can learn more about your benefits based on your facts and circumstances. Social Security Retirement Benefits: Who is eligible? Worked and paid Social Security Taxes to earn 40 credits Reached a minimum age of 62 for early …

IRS Website Provides Tools to Help Small Businesses Understand Employment Taxes

  IR-2017-110, June 22, 2017   WASHINGTON –The Internal Revenue Service reminds small businesses of the many free products available to help them understand and comply with the law. Products ranging from online calculators, printable calendars, step-by-step guides and a series of educational webinars are all available on IRS.gov.   Federal law requires most employers …

Getting Your 2015 Tax Return Information For the 2016–17 and 2017–18 FAFSA

IRS Offers Help to Students, Families to Get Tax Information for Student Financial Aid Applications Update June 2, 2017: U.S. Department of Education: Data Retrieval Tool Available for Income-Driven Repayment Plan Application; Extra Security Protections Now Allow Borrowers To Automatically Transfer Tax Return Information into Repayment Applications The U.S. Department of Education today announced the …

Fringe Benefits

Fringe benefits partners and more-than-2% S shareholder employees can and can’t claim Partnerships-and limited liability companies (LLCs) treated as partnerships-and S corporations have distinct tax and non-tax advantages.  Some of these are the tax treatment of Fringe Benefits. Working condition fringe benefits. . . . Business-related use of a company auto, if properly substantiated. The …

Get Prior Year Tax Information from the IRS

Issue Number: IRS Tax Tip 2017-22 There are many reasons to keep a copy of a tax return from a prior year. The IRS urges all taxpayers to keep copies of their tax returns for at least three years. Taxpayers should keep a copy of their tax return. Beginning in 2017, taxpayers using a software …