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Category: Tax Tips

Tips for Your Trip: Strategies to Smart and Savvy Business Travel

May 23, 2014

Here, there and everywhere. When is travel really deductible? When is travel classified as business or personal? This is a question that has been asked throughout the ages. The fact is the IRS has come up with some pretty strict if not overly thought out rules to make this designation. To keep it simple we […]

Do You Need To File For An IRS Tax Extension This Year?

April 11, 2014

Email Kayla Boles at kboles@corporatetaxnetwork.com if you would like help in filing for an extension. At times, it can be tough to keep up with the fast-moving hands of a clock and the constantly turning pages of a calendar. When it comes to filing your taxes with the IRS, however, it is important to meet your IRS […]

8 Items for Small Business 2013 Year-End Checklist

December 15, 2013

Small Business tax-savers to consider as the 2013 year-end approaches: Estimate your tax liability for 2013. Adjust your final quarterly voucher or your withholding to avoid underpayment penalties. Check estimated payments for your C Corporation for the same reason. Consider prepaying college tuition you’ll owe for the first semester of 2014. Expenses paid for you, […]

Pay Your Children for Services They Perform For Your Business

December 5, 2013

Introduce your kids to working in your family business by showing them the worthwhile opportunities that result in a job well done. They will have pride and ownership as contributing  to your household, and, oh that’s right, your company can write off their wages! As with anything,  you are required to meet a few guidelines […]

4 Important Tax Deadlines You Don’t Want to Miss!

November 19, 2013

Mark your calendar – here are 4 deadlines small business owners should make note of: February 28 – Payers must file 2011 information returns (such as 1099s) with the IRS. (Electronic filers have until April 2 to file.) February 29 – Employers must send 2011 W-2 copies to the Social Security Administration. (Electronic filers have until April […]