It is a logical and desirable course of action for any business owner to put more than a little effort into minimizing their tax liability. However, business owners are often unaware of all the business tax deductions available under the…
Fail to Remit Payroll Tax? Criminal Liabilities May Attach Normally, whenever an employer fails to pay over payroll taxes collected from its employees, the IRS will impose a hefty Trust Fund Recovery Penalty, which may equal the amount of the…
How you can deduct business startup costs from your income taxes When starting a business, owners should treat all eligible costs incurred before beginning to operate the business as capital expenditures that are part of their basis in the business.…
