Keeping up with the complicated tax code can create stumbling blocks for small businesses who spend substantial time and money to prepare accurate returns and avoid audits. Tax compliance can be a surprising cost for business owners, with retail small businesses spending 163 hours and an average of $17,000 per month on sales tax compliance … Continued
Understand the timing, cadence and process for reporting and remitting sales tax, and the potential challenges of sales tax compliance.
Sole proprietors, partnerships, corporations and LLCs have unique tax benefits and risks. Find out which business entity is best for you.
Know the difference between 1099-NEC vs. 1099-MISC forms? Are your W-9s complete? Follow these steps to accurately file your 1099s this year.
Do you need quick, streamlined tax filing support or broader expertise and planning? Compare a CPA vs. tax accountant for your business.
From home office expenses to insurance to equipment write-offs, we answer the 21 most common tax questions from small business owners.
Get a head start on your business tax preparation to make filing easier and to organize your financials for better critical decision-making.
Use our small business tax preparation checklist to gather the critical information you need to prepare for tax season.
Some tax minimization strategies ring true every year. Others need special attention because of their unique timing and circumstance. Programs expire, get extended or have their rules changed mid-stream. These opportunities are sometimes complex, but taking time and effort to understand and potentially integrate them into your business strategy is often worth it.
No recent Supreme Court ruling has rocked the business world as much as the Wayfair decision that introduced sales tax nexus. The narrow 5:4 verdict on South Dakota v. Wayfair, Inc, et al opened a floodgate of responsibilities for businesses to collect and remit taxes on goods sold in far off states and localities despite having no physical presence there.
Small and mid-size businesses continue to struggle to make sense of, and comply with, their obligations for sales tax collection, filing and remittance.