When you’re starting your business, you really don’t want to be thinking about taxes. Here’s the basics from the IRS: Four Things to Know about Taxes and Starting a Business. The article includes the 5 kinds of taxes you need to be aware of, but probably aren’t, when you start your business.
If you’re self-employed (running a business), you need to know that the IRS expects you to make estimated payments each quarter. “Taxes are pay-as-you-go,” the official IRS page said. “This means that you need to pay most of your tax during the year, as you receive income, rather than paying at the end of the […]
The 2015 standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations The business, medical, and moving expense rates […]
Rural business owners commonly use part of their home in their business. This can include using an extra bedroom as a home office, an specific area of one room for product crafting such as sewing, an exterior building like a shed or garage for production or research, or a specific section of your lot or […]