Employee Business Expense Archives - Page 2 of 3 - John R. Dundon II, Enrolled Agent
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Employee Business Expense

IRS Form 1040 Schedule C: Profit or Loss from Business can be a tough form to work through.  Tread lightly and seek guidance. The sole proprietorship or single member Limited Liability Corporation (LLC) is in my opinion the easiest type of business entity to set up...

The Internal Revenue Service launched a new program that will enable many employers to voluntarily reclassifying their workers in an effort to resolve past worker classification issues. It is called the Voluntary Classification Settlement Program (VCSP). This new program will allow employers the opportunity to make a minimal...

If you itemize deductions and are an employee, you may be able to deduct certain work-related expenses. Generally, report expenses on IRS Form 2106 to figure the deduction for employee business expenses and attach it to Form 1040. Deductible expenses are then carried over onto...

As a small business owner you may hire people as independent contractors or as employees. There are rules that will help you determine how to classify the people you hire. This will affect how much you pay in taxes, whether you need to withhold from...

School’s out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job. All employees...

Videos HIRE Act: English Small Business Health Care Tax Credit: English WASHINGTON — In recognition of National Small Business Week, the Internal Revenue Service encourages small businesses to take advantage of tax-saving opportunities included in recently enacted federal legislation. A variety of business tax deductions and credits...

The Hiring Incentives to Restore Employment (HIRE) Act, which was signed into law on March 18th, 2010 provides tax incentives for hiring and retaining workers and purchasing equipment and many other business assets. It also includes new measures that heighten disclosure and reporting requirements for...

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