Tax concerns for the self-employed and small business owners

Taxes: Self-Employment & Small Business Owners

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IRAs and Retirement Plans: IRAs and Taxes
Deducting Your Home Office Costs


Whether you are self-employed or an employee, if you use a portion of your home for business, you might be able to deduct the associated costs. A home office deduction is generally easier for self-employed individuals to claim. But even then, the IRS has certain requirements a taxpayer must meet.

New, Simpler Way to Claim Home Office Deduction


If you use a home office for your business, it can save you a lot of money at tax time. It also can be a filing hassle, a record-keeping bother and a constant concern that your tax return will be audited because of your residential workspace tax claim. Now, however, some of those concerns have been eased, thanks to the simplified home office deduction.

How to Pay Tax when You Make Money on the Side


Perhaps you have a full-time job, but also do some contract work on the side. You need to pay taxes on that income, but do you pay estimated taxes right now or wait until you file your yearly tax return? Should you just increase your withholding on my part-time job until then? And does it make sense to increase withholding or pay estimated tax?

The Small-Business Owner and the Taxman


Small-business owners want to hear from lots of people -- except for Uncle Sam. If it's your business, then it's your business to hire a capable accountant to manage your tax filings and returns.

The Skinny on Paying Estimated Taxes


If you have income that isn't subject to withholding taxes, then you probably should be paying estimated taxes. It doesn't matter whether the untaxed money comes from a job, investments, alimony or prizes you've won. If Uncle Sam doesn't get his share close to the time you received the money, you could end up owing not only taxes but also penalties and interest.

Tax Breaks for Small Businesses


Are you looking for a new business partner? Consider Uncle Sam. The federal government offers a wide variety of tax breaks that could help your business not only survive, but thrive.

Get your biggest tax refund guaranteed with TurboTax, the #1 best selling tax software. Start for free.

Am I an Employee or a Contractor?


Your employer expects you to keep hours like any other employee and even pays you sick and holiday pay. But they do not withhold taxes from your check. How do you protect yourself and make sure your taxes get paid properly without rocking the boat with your employer?

Easing Tax Time Pain

Jacqueline McLaughlin Hale

Do you dread the record keeping part of running your small business? You just need to put a simple and effective system of record keeping into place. It doesn't have to be that bad and it doesn't require an accountant, or even an in depth knowledge of accountin. All you need are some basic rules to follow throughout the year and a little help at the end of the year!

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