Category «Small Business»

IRS is Now on Instagram

IRS launches Instagram account to help taxpayers: Agency adds social media platform to reach more taxpayers, share timely information on filing season, tax law changes, tax scams IR-2018-237, November 30, 2018 WASHINGTON — As part of a larger mission of helping all taxpayers understand and meet their tax responsibilities, the Internal Revenue Service announced today …

How to be a SUCCESSFUL Business Owner

Small Business Responsibilities Choosing a Business Structure Meet with an attorney and CPA to set up the structure that best suits your legal and financial needs Sole Proprietor State formed LLC (single member or multi-member) C Corporation Partnership (two or more partners) Taxation choices LLC = default taxed as a Sole Proprietor or Partnership unless …

Highlights of the Tax Cuts and Jobs Act

Individual: Net Income Tax Rates: 10%, 12%, 22%, 24%, 32%, 35%, 37% Capital Gains & Qualified Dividends Tax Rates Remain: 0%, 15%, 20%; however, the 15% breakpoint is $77,200 MFJ and the 20% breakpoint is $479,000 MFJ. Standard Deduction: increased to $24,000 MFJ and adjusted for inflation for years after 2018 Personal Exemption: suspended for …

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 …

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 …