Small Business Taxes

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Getting Your Business Off to a Good Start, Part 9: Wrapup Post

By | March 1st, 2017|Categories: Potpourri of Tax Topics|Tags: , , , |

For nearly 4 months I've been posting excerpts from a presentation I give to entrepreneurs trying to get businesses off the ground. Because the posts are scattered across many weeks, this post serves as a reference point to pull them all together. Part 1: Proper Recordkeeping Part 2: Scanned Copies of Receipts Part 3: Bookkeeping Systems [...]

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Glossary: Estimated Tax Payments

By | August 17th, 2015|Categories: Potpourri of Tax Topics|Tags: , , |

Why make estimated tax payments?

Glossary of Tax Terms: LLC

By | August 7th, 2015|Categories: Glossary|Tags: , , |

LLC stands for Limited Liability Company. The tax treatment of LLC varies.

Self-Employment Tax Calculation: The Basics

By | July 14th, 2015|Categories: Small Business Tax and Accounting|Tags: , , , |

Here's a basic overview of the self-employment tax calculation for self-employed people. These are the steps for the calculation: Determine your net self-employment income. For most self-employed people, this will be the net profit from their Schedule C. Multiply by 92.35% (.9235). Multiply that result by 15.3%. This gives you the amount of self-employment tax you [...]

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Choosing a Business Entity: Basic Terminology

By | June 16th, 2015|Categories: Small Business Tax and Accounting|Tags: , , , |

Basic terms to be familiar with when choosing a business entity.

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