As your business grows over time you will probably want to expand and hire people for different roles. Luckily there are many options available for companies who need to find talented workers. As an employer, there are two main types of workers: employees and independent contractors. What's the difference you ask? For a new business, [...]
Whether you already own a home or are considering buying one, you should be aware of the many tax benefits that go along with home ownership. There are plenty of reasons for owning a home, including the potential for capital appreciation and the fact that many of the costs are tax deductible, while rent is [...]
Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making quarterly estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her net earnings for the year and pay taxes on a quarterly basis [...]
Everyone knows that taxes and coming up, and unless they're getting a federal refund, taxes are something most people don't look forward to. Some people have already filed their taxes, while others will wait until the last minute to do so. For those who are self-employed, dealing with taxes is an even bigger issue, since [...]
Have you ever wondered why your small business is paying so much in taxes? The answer may be simple: You may not be paying as you go. If you don't pay enough taxes during the year, you may pay a penalty for underpaid taxes. Here's how to do it correctly. If You Aren't Withholding Taxes, [...]
As a small business owner, do you ever wonder why you pay so much in taxes? The answer isn't as complicated as you think. Maybe you're not taking the necessary time to properly plan. It could be an issue such as trying to do it yourself, rather than hiring a tax professional, not keeping a [...]
If you're a new business owner, you may wonder what you need to know about sales taxes. A lack of knowledge is costly. If you wrongly think you don't owe the tax and don't collect, or if you correct too little, you could have to pay big fines and penalties. In fact, there are several [...]
If you're a business owner, especially a small business owner, every penny counts. The more money you have, the more you can invest, the more your company grows, and the more money you have to take risks. Naturally, you want to save as much as possible on your daily expenses and daily operations. You may [...]
Whew! Elections are over. Now here is some of the fallout for employers: As you may already know Arizona voters passed Proposition 206 for an increase to minimum wage from $8.05 to $10 starting January 1st, 2017. Here are a few more details on the changes below. Increase the minimum wage to $10 in 2017, [...]
If you are a divorced or separated parent with children, a commonly encountered but often-misunderstood issue is who claims the child or children for tax purposes. This is sometimes a hotly disputed issue between parents; however, tax law includes some very specific but complicated rules about who profits from the child-related tax benefits. At issue [...]