How To Fill Out A W-2 Form

Fill Out A W-2 Form
For many businesses, filling out employee W-2s is a time of reflection, a time to look back at the past calendar year and really see how much extra they’re paying for labor thanks to pesky minimum wage laws. But alas, there’s an upside to all of this paperwork–it isn’t hard. Any business that has basic recordkeeping skills can turn the W-2 process into a quick, easy, and only slightly...

5 Useful Tips For How To Survive A Tax Audit

How To Survive A Tax Audit
Nowadays, there is nothing as scary as a convincing IRS that you reported all of your income and were entitled to all deductions, credits and tax exemptions. Tax audit is generally time consuming, stressful and potentially expensive, particularly for small business owners like restaurants where mistakes are very common. They are usually triggered by the difference between the tax money that should...

Four Simple Tax Mistakes That Lead To Big IRS Problems

Tax Mistakes That Lead To Big IRS Problems
The tax season may be over, but there are still thousands of Americans that are dealing with the fallout from their tax problems.  The IRS has some interesting filing statistics that have come out.  As of 5/10/2013 the IRS has received 134,349,000 tax returns, which is bad when you consider that there are over 300 million Americans that should be paying taxes, and that it is a 0.8% change from the...

Common Misconceptions About Taxes In The UK

Taxes In The UK
When it comes to taxes in the UK, there are a lot of things which are commonly believed by the public that are actually not true at all. These common misconceptions have been passed along for many years and can cause a lot of confusion when tax time comes around. This is why it is so important to have a qualified accountant on your side so that you can make the best choices when it comes to your taxes. Here...

Analyzing Tax Brackets – Knowing The Basics

Analyzing Tax Brackets
No matter what stage of life you are in, it can be useful to know which tax bracket you or your business is in. Whether this knowledge is used for planning your budget, or just curiosity, you can find it out. Learn how your income influences the taxes you pay. Changing rates Depending on where you life, the taxes are influenced by different factors. Each country has its own set of rules and regulations...

Tax Credits In Britain: Are You Receiving Your Full Entitlement?

euro
Sadly the British economy seems to be in even worse trouble this year, despite government promises that their austerity measures would reign in the recession and its far reaching effects on our everyday lives. In light of this news we decided to take a look at the current situation for unemployment and found some rather shocking figures. Contrary to the recovery promised by economists, Britain’s recession continues...

Small Business Tax Deductions And Write-Offs You Can’t Afford To Miss

Small Business Tax Deductions
Missed deductions can increase a business’ tax bill unnecessarily, and claiming deductions you either do not qualify for or doing so inaccurately can trigger a stressful audit. Small business owners should know which tax deductions they qualify for and how to accurately claim them on quarterly or yearly tax returns. The most common small business tax deductions are easy to understand and important...

Tax And Your Business: 5 Great Online Resources

Calculating Taxes Up And Down
Owning a small business is no small task. Between balancing payroll, overseeing production and handling day-to-day operations, you might not have the time or energy to learn the ins and outs of tax law. You might understand the basics and even have a staff accountant, but in order to stay ahead of financial crises, you should keep up with the latest news that could affect your business. Here are five...

Steps to reduce your bill with last minute year end deductions

tax credits
Although the year is over almost, it is not so late to use the tax breaks for the present tax year. You have to do the actions fast. Certain breaks are contingent based on you finish the transactions prior the end of the year. The easiest tax breaks to receive, when you list the deductions on schedule A. It is the deductions for charitable donations. Anyone can use these deductions for cash donations...
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