When a self-employed individual makes a company trip outside of the United States and the trip is 100% for the purpose of your profession, all of the ordinary and necessary company travel expenses are deductible. However, there are rules the IRS has as to what qualifies as ordinary or necessary travel expenses for company and personal travel.
Tax Planning
Start Off 2019 Tax Year Right!
Important Tips to Begin the 2019 Tax Year right! It’s a good feeling to start off the 2019 tax year on the right foot. It not only gets you in the grove for growing your business, but it also helps you resist bad habits that try to creep up during the year. Individuals and small […]
Who is Responsible for Massachusetts Tax Filing
Massachusetts tax filing applies for those who work in Massachusetts Did you work in Massachusetts last year? Massachusetts tax filing applies to you. Therefore, you must file a Massachusetts income tax return on all gross income $8000 or more. Income can be from a job you hold, interest earned on savings, social security, winnings from […]
7 Ways Small Business Owners Save Money On Taxes Legally
Everybody wants to save money on taxes legally. To lower the amount you pay in taxes is an especially important goal for small business owners. After all, to avoid paying every penny in taxes is a double victory: you avoid overpaying and add to your bottom line. Here we list seven tips to use to spot […]
Getting the W-4 Right Is Important!
An Accurate IRS Form W-4 is Imperative Do you wonder, why getting the W-4 right is necessary? At the beginning of every year, employers request employees to complete the IRS Form W-4. Getting the w-4 right is important, but why make such a big deal about it? You are probably thinking, “Can’t you just correct the […]
1099-MISC Filing Date: 1099 MISC Filing Deadline
1099-Misc Filing Date Deadline is January 31st What is Requirement to issue a 1099-MISC Form? The 1099-Misc filing date is January 31, 2019. Payment to independent contractors is known as non-employee compensation or NEC. There are specific requirements when you issue a 1099-MISC form. The IRS requires a business to issue a Form 1099-MISC to […]