Tax Law

Even if you don't think of yourself as a business, you may be one in the eyes of the Internal Revenue Service (IRS). Knowing the basics of a Schedule C business can help you understand what may be...

The marketplace of the 21st century is highly competitive. Businesses of all types undertake a variety of strategies in order to stay ahead of the competition---not only today but into the future...

The deduction of legal fees is not a simple subject that can be answered in a sentence. There are certain types of legal fees that can be deducted and others that can not. You must be aware of the...

Artwork is a wonderful addition to any space. This includes business and workplace locations. Beyond enhancing almost any type of decor, in some instances artwork can be a viable and profitable...

If you are self employed, the Internal Revenue Service has tax rules that are different from its rules for employees. If you own a small business, you may not be able to afford an expensive tax...

As a horse owner filing taxes, the most important distinction to make is if your horse use is classified for personal or business use. Deductions are possible only if it is determined that your...

A surprising number of small businesses significantly overpay their taxes each year for one of two reasons. First, many small business owners don't understand the rules; second, they fail to plan...

Independent contractors can deduct their business expenses from the amount of income tax they owe. In order for an expense to qualify as a business expense, it must be directly related to the...

If you use your vehicle in business and your employer reimburses you for all or part of your vehicle expenses, the tax treatment of the reimbursement depends on whether you are reimbursed through...

Business owners and operators incur a number of expenses related to the running of their businesses. Many of these expenses are tax-deductible. Taking advantage of the full range of available...

If you have decided to use the accrual accounting method for tracking your business expense and income, you will find that there are tax preparation benefits and a couple of potential cash flow...

The payment of taxes is the only thing we all have to do. In the case of sales tax and use tax, this is a serious matter. The sales tax is collected by the seller on the state's behalf and is to...

The tax deadline is rapidly approaching and you noticed that you do not have all of the necessary documentation to file your business taxes. The reason for the delay may be out of your control,...

The federal government has made it much easier for businesses to file and pay their taxes online. It's no longer necessary to fill out payment booklets, attach a check, buy stamps and mail. Now...

There are many purchases that the IRS considers tax deductible. A plane purchased for business may be tax deductible depending on how it is used. Tax deductible status is also determined by who...