Tax & The IRS
IRS may shift AMT gap burden to small biz
To raise revenue, the feds plan to stick their noses deeper into small-business financial records. Carson Stanwood has no problem with the Internal Revenue Service going after tax cheats. The founder of Stanwood & Partners Public Relations, based in Jackson Hole, Wyo., understands that paying their taxes in full puts small-business owners like him at [...]
Three roads to wealth
Smart ways to build your nest egg, whether you’re a business owner starting up, in your prime, or cashing out. As surely as seasons change, entrepreneurs face a new personal finance challenge at every turn, whether it’s a sudden cash flow squeeze or a hike in taxes. And with stocks now wobbly, the path to [...]
2007 Tax Tips
Keeping your tax files fit for the coming 12 months not only cuts frustration in another year, it likely will cut your taxes. Here are some things to consider in the next few months: Make a plan – At minimum your plan should summarize total revenue, collections by client and expenses from the past year [...]
Weird Tax Write-Offs
Some people try to get away with the most absurd things come tax time. Bankrate.com wrote a classic piece on the nine weirdest tax write-offs individuals have tried to take, such as the Amish fellow who pimped out the buggy he used for business and tried to deduct the accoutrements, including a velvet interior and [...]
Top Five Overlooked Tax Deductions
You work hard for your money. So why hand it over to the Internal Revenue Service when you don’t need to? Many entrepreneurs overlook perfectly justifiable — and legal — tax deductions simply because they are unaware of them. So before the 2006 tax season begins, take the time to review the deductions to which [...]
10 best states for taxes
Which places are low on taxes and light on government regulations? Exclusive rankings for FSB.com from the Small Business & Entrepreneurship Council. South Dakota Nevada Wyoming Alabama Washington Florida Mississippi Colorado Texas Michigan See where your state ranks.
Keep the Day Job — Launch a Sideline
Ask small-business owners how much time they spend on the job and the answer is usually the same: all of it. Yet, some entrepreneurs manage to launch a start-up on the side without quitting their day job. While it’s a lot like leading a double life, many say the rewards are worth it — namely, [...]
