New business owners always have questions about taxes. I visited this IRS-made site. It is remarkably “user friendly” and intuitive. The video is of an excellent quality and there are many features that make it very easy to use. You should, at least, go watch/listen to the Introduction. Then you can chose whichever area is […]
Doing business in more than one state
Andrea left this question as a comment: I have an online business based in California. I currently ship from Nevada. I want to also start shipping from Illinois. My question is -do i need a business license and/or to pay taxes in NV and IL? Jeanne Cole, our contributor from the Small Business Development Center, […]
Claiming Business Use of Your Car
If you are going to use the standard mileage deduction, you need to keep track of the business miles driven. There are two ways to prove to the IRS how many miles you have driven your car for business. Under either method it is very advisable to record the odometer reading on the 1st day […]
Employee vs Independent Contractor
Ten Tips for Business Owners Source: IRS Summertime Tax Tip 2009-20 If you are a small business owner, whether you hire people as independent contractors or as employees will impact how much taxes you pay and the amount of taxes you withhold from their paychecks. Additionally, it will affect how much additional cost your business […]
