This is a common question. You are self-employed or owner of a business. You do not want to deal with paying quarterly tax estimates to the IRS. There are many companies offering payroll services. The payroll company can manage all your payroll needs for you. If you pay yourself sufficient wages, you will get a refund at the year. Seems easy. Well it is. But are you are unsure if you can put yourself on payroll.
Top 10 Tips for Getting Your IRS Taxes Prepared
We review the Top 10 Tips for getting your IRS taxes prepared. The goal is to help you choose a good tax preparer and to watch out for potential pitfalls. Continue reading…
Independent Contractor Trap
In our previous article, we reviewed the advantages and disadvantages of hiring independent contractors compared to employees. Small business will want to treat all workers as independent contractors. It is less expensive and less work. Conversely, workers prefer to be treated as employees. The worker will pay less tax and it is less hassle. The small business and the workers have conflicting interest.
Independent Contractor or Employee Decision
Small businesses decide how to treat workers, employees or independent contractors. This decision has major impacts to both the small business and the worker. For the business, it is less work and less expensive to hire an independent contractor. For the worker, it is less work and less expensive to be treated as an employee.
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IRS Non Profit Record Retention Period – Tax Question
Tax Question – Do you know the law on how long you have to keep minutes for a non profit as well as prior tax records? Continue reading…
IRS Taxes Bartering
Tax Question: What are the tax laws on bartering? How do you determine when something is a barter that should be taxed?
Quote of the Month – February 2014
You don’t learn to walk by following the rules. You learn by doing, and by falling over. Richard Branson
Michigan Sales Tax on Catering Sales
Tax Question: Do I need to collect Michigan Sales Tax on caterings?
Lansing Front Page December 29, 2013
ALG Tax Solutions President, A.J. Gross, on the front page of a local Lansing newspaper, The New Citizens Press.
A.J. Gross, C.P.A., E.A., writes tax articles for The New Citizens Press. This is the second time in a row. Hopefully, this will continue. The article can be read here.
Track IRS Business Miles
We run across a lot of clients that do not keep track of their IRS business miles. It can be a pain to record your IRS business miles. However, not having sufficient records for your IRS business miles will cause more headaches down the road if you are audited by the IRS. Use one of the following 4 methods to satisfy the IRS record keeping requirements for IRS business miles.
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