 |
|
|
|
 |
Sales and Use Tax in Multiple States: Understanding Nexus No one likes collecting sales and use taxes for the state. It is a time consuming, complicated task that has no tangible benefit for your company. However, what would be worse than collecting and remitting the tax, would be the bill you might receive from an out-of-state tax agency for the sales and use tax that you were supposed to remit for the past three or more years. more... IRS Creates Communications Division for Businesses The IRS has created a new Communications and Liaison Division designed to build and maintain effective working relationships with a broad range of private, public and governmental groups to accomplish mutual goals that help taxpayers. The C&L Division actively seeks to work with external groups outside the IRS to
offer education, provide services and meet the needs of the public. The Division
consists of four offices – Communications, Legislative Affairs, National Public Liaison,
and Governmental Liaison and Disclosure. Business Tax Planning Deduct all eligible business expenses If that isn't obvious I don't know what is. But you would be surprised at how many people "estimate" their business expenses saying that they are being conservative in their estimate. You know what. I believe them about being conservative. Stop here and get yourself a real accounting system and really keep track of your business income and expenses. A new computer is about $1,000 and a decent accounting software package like QuickBooks is only about $150. A little time on your part and you have a system. And with a system you will be able to track your net income much better and with much less work. PAYROLL FACTS: DID YOU KNOW...? A recent survey taken by Intuit revealed the following information: Increasing numbers of small businesses are penalized by IRS for late or inaccurate payroll tax filings. The average penalty amounted to $845. 48% of small businesses believed there were less than 10 government regulations that affect their businesses. In fact, small business owners had to comply with an average of more than 50 government regulations in 1998 - many of them new or recently revised - in order to satisfy their tax obligations. Small business owners estimate that they spend more than 50 hours a year calculating payroll. This means that processing payroll consumes more than a full work week each year, taking time away from managing a small business. |
• Employer's Tax Guide Publication 15 Circular E
• American Association of Home Based Businesses
|
||||||||||||||||||||||||||||||||||||
 |
|
| Advertising Information | Advertising Partners | About Us | Contact Us | Affiliate Program | Terms & Conditions | Privacy Policy | Links | Accountant |
|
| ©2000-2010 CPAdirect Marketing, Inc. All rights reserved. |
|