Common Business Owner Mistakes – I commented recently on a few social posts seeking guidance on tax treatment and entity questions in general. I thought it may be helpful to make a post of some of the biggest mistakes I see business
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California Governor Gavin Newsom on recently signed a bill into law requiring employers to provide notice to employees that they can consult and seek the advice of an attorney for guidance about their rights under the state’s workers compensation law. Under A.B.
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Tax Resolution is finding mutually agreeable resolutions to past tax debts Offers in Compromise is settling a tax debt for less than you owe Installment Agreements are paying either some or all of your tax debt over time. Back-door Offer in Compromise
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IRS tax transcripts are important documents that provide detailed information about a taxpayer’s tax return and account. IRS tax transcripts allow a taxpayer, as well as a tax attorney representing a taxpayer to know what information the IRS has, as well as
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Is the person or people working for you a subcontractor or employee? The IRS uses a 20-point criteria test to determine a worker’s status Each state has its own test that generally follows the IRS test, albeit often varies greatly due to
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You may be able to save considerable amount of cash in the form of tax savings by hiring your kids Your children may learn valuable business skills that they will keep for their lifetime The federal government, via tax preferential treatment encourages
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If your small business is or perhaps more importantly will be netting you over $50,000 this tax year and you’re operating your LLC as a disregarded entity, you may be paying too much in taxes. One potential strategy on reducing your tax
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Failure to file can result in up to $500 a day in penalties Many businesses are exempt from filing, however, you want to make sure you property determine if you are or are not exempt. The stated purpose is to uncover criminal
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I’m a pro-am photographer, I enjoy the art, especially in the world of sports photography as I find it challenging, rewarding, and even sometimes frustrating, as my skills improve over the years. One major concern photographers of all sorts have is what
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Quick important note: Unless you have been living under a rock in the last year, you most likely heard (and still hearing) ads promoting businesses to take the Employee Retention Credit (ERC). Many of the ads are from unscrupulous advisors without credentials,
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