Business Taxes Articles

Take out a business loan or have a mortgage for your brick-and-mortar? You may cringe when you see your business interest expense add up. But here’s a bit of good news—there’s a business interest expense deduction you may be eligible to claim (hooray!).

Employers bear the burden of calculating, withholding, and remitting taxes from employee wages. They must also report them to the correct government agencies. But, what must self-employed individuals do? And what about individuals whose income isn’t taxed? What should those individuals do to pay and report their taxes?

Business owners have a lot of taxes to know. Sales tax is another one to put on the list. Understand sales tax and how it works for your business to avoid potential penalties. And, that includes knowing if your particular company has to charge sales tax at all. So, let’s answer, “Do I have to […]

The end of the year is a busy, if not the busiest, time of year for small business owners. You’re gearing up for the start of a new year and trying to wrap things up before the year comes to a close. One thing that should be on your mind during this time of year—aside […]

In 2020, COVID-19 took the world by storm. To provide relief during the pandemic, the IRS allowed eligible employees and self-employed individuals to defer Social Security tax temporarily. And now, it’s time for individuals (or their employers) to collect and pay back the deferred tax. But, how does the self-employed Social Security tax deferral work? […]

Thanks to the COVID pandemic, 58% of employees sometimes or always work remotely now. Unfortunately for those employees, they can no longer claim the home office tax deduction (talk about an unlucky sequence of events). But lucky for you, you’re a business owner. And that means this tax deduction is still available.