Reader Robert Ellis sent us a note about his new tax blog, Smart Strategies. The first post is on an important ruling about home office deductions. Ellis is a CPA from Colorado. Stop by and wish him well! I’ve also been enjoying Gina’s Tax Articles by CPA Gina L Gwozdz from Texas. She frequently answers…
This week’s rural entrepreneurship news is about support systems for small business: financial education small business support centers zoning laws global business programs awards programs access to broadband Most important question this week: What if you increased incomes in your area, but poverty stayed the same? Do higher wages automatically equal better financial knowledge? Here’s…
If you use a car or truck in your business in the US, the IRS has rules (of course). Here’s some highlights: Deductible Car and Truck Expenses What qualifies? Traveling from one work location to another within the taxpayer’s tax home area. (Generally, the tax home is the entire city or general area where the…
IR-2006-168, Nov. 1, 2006 WASHINGTON — The Internal Revenue Service today issued the 2007 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, 2007, the standard mileage rates for the use of a car (including vans, pickups or panel trucks)…
More advice from the IRS on EFTPS for those of you with employees– While using EFTPS is simple, secure and convenient, there are common mistakes that can cause delays and result in late posting of payments, which may lead to penalties. Avoid these mistakes by remembering the following tips: Using your legal company name can…
Heads up! If you owe back taxes to the federal government, the next call asking you to pay may come from a private debt collector. Within two weeks, the I.R.S. will turn over data on 12,500 taxpayers who owe back taxes, to three collection agencies. The move represents the first step in a plan to…
What really is a million, or a billion? My friend Pat Singleton put this into perspective for me in terms I could really grasp. 1 million seconds equal 11 and 1/2 days. 1 billion seconds equal 31 and 3/4 years. 1 trillion seconds equal 31,710 years. Thanks for stopping in for the million/billion/trillion answer. If you’re…
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