Small Business Archives - Page 6 of 8 - John R. Dundon II, Enrolled Agent
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Small Business

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...

If you receive a letter or notice from the IRS, it will explain the reason for the correspondence and provide instructions. Many of these letters and notices can be dealt with simply, without having to call or visit an IRS office. The notice you receive covers...

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...

Shareholder Timothy McCloskey was assessed a trust fund penalty due to an unfortunate problem he had with his trusted bookkeeper and chief financial officer, Kathleen Lawson. On September 1, 2004, Kathleen left Timothy an apologetic letter of resignation. Upon reading it, Timothy knew that she...

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...

A tax payer is the 100% owner/employee of an S corporation that she started in 2010. She only wants to take $2,000 in wages for the first year. In addition, she would like the S corporation to pay for her health insurance, which costs...

Question: Tax payer produced Form 1099-S from the sale of property she owned jointly with her brother. The Form 1099-S had the full amount reported to her and the brother did not receive a Form 1099-S. What should be done? Answer: The IRS explains in the...

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