Tag: Taxes

New Tax Law Affects Small Businesses

Small business owners need to read this recent article from The Washington Post. It does a very good job explaining the new law buried in the healthcare bill requiring small businesses to issue 1099 forms to people or companies that sell them more than $600 worth of goods or services and it offers ideas on [...]

Posted by Carleigh Lowe on Monday, May 24th, 2010
Posted in Articles of Interest
Tags: News, Small Business, Taxes

Nonprofits Take Note!

As many as 400,000 nonprofit organizations are weeks away from a doomsday. At midnight, May 15, an estimated one-fifth to one quarter of some 1.6 million charities, trade associations and membership groups will lose their tax exemptions, thanks to a provision buried in a 2006 federal bill aimed at pension reform.” said Stephanie Storm In [...]

Posted by Brett Melson on Thursday, May 6th, 2010
Posted in Articles of Interest
Tags: Non-Profit, Taxes

Sole Proprietorship or S-Corporation?

At Harvard Business Services we know that when you start your own business it can be confusing to know what corporate structure is the best decision for you and your business. I just read a great article from Entrepreneur.com that does a fantastic job clarifying some of the confusion regarding a Sole Proprietorship and the [...]

Posted by Carleigh Lowe on Tuesday, March 23rd, 2010
Posted in Articles of Interest, S-Corporation
Tags: S-Corporation, Sole Proprietor, Taxes

There’s Still Time to Become a S-Corp in 2010

If you’ve been following this blog or have ever incorporated a business then you probably already know about the S-Corporation or S-Corp, and the tremendous pass-through tax benefits associated with it.  If not, check out Background on S-Corporations for a quick crash course.  Though the concept is easy grasp, many fail to understand how a [...]

Posted by Paul Sponaugle on Friday, February 26th, 2010
Posted in S-Corporation
Tags: S-Corporation, Taxes

The Best Revenge: Make More Money

American entrepreneurs really are a whole different breed. They don’t expect anyone to give them a break or a pat on the butt. They get their satisfaction from scoring, not praise. They take pride in doing something better than mankind ever did it before, not just their competitors. They pay their taxes to the local, [...]

Posted by Rick Bell on Wednesday, January 27th, 2010
Posted in Founder's Forum
Tags: Entrepreneurs, Government, Money, Taxes

What is an Individual Taxpayer Identification Number?

Question: What Is an ITIN? Answer: The ITIN number or “Individual Taxpayer Identification Number” is similar to that of the Social Security number. The ITIN is for individuals that cannot acquire the SSN but have tax filing requirements with the IRS. The ITIN is 9 digits in length just like a SSN, but it will [...]

Posted by Brett Melson on Tuesday, January 19th, 2010
Posted in INC Knowledge, Q&A
Tags: Entrepreneur, INC Knowledge, Taxes

An EIN Number Never Dies

When closing a small business, there are many things to consider. On a Federal level, typically a business must file an annual return for the year it goes out of business. Depending on the business structure or whether the business had employees, there are a number of tax forms that typically must be filed with [...]

Posted by Paul Sponaugle on Thursday, January 14th, 2010
Posted in INC Knowledge
Tags: Closing Your Company, EIN Number, INC Knowledge, Taxes

Small Business Tax Breaks

Small business tax breaks may expire soon. As the year 2009 comes to an end, Americans who run small businesses are scratching their heads. While the federal government seems hell-bent on nationalizing health care – at a great cost, but little benefit, to currently successful businesses – it is ignoring the elephant in the room: [...]

Posted by Rick Bell on Monday, December 21st, 2009
Posted in Trend Report
Tags: Small Business, Taxes

Book Review: Tax Savvy for Small Business

When starting a business one of the most intimidating factors is the taxation issues and the fear of having to deal with the IRS. Here at HBS we have read numerous tax related books to help provide a resource to refer our clients to when they have tax related questions. Most of the books do [...]

Posted by Brett Melson on Friday, October 23rd, 2009
Posted in Books of Interest
Tags: Books, Taxes

Tax Tips From the IRS

Starting a business can sometimes be an overwhelming process, especially when it comes to your federal tax responsibilities, but this is something you really want to get right from the start. Below are the top tips the IRS wants you to know if you plan on opening a new business this year. First, you must [...]

Posted by Carleigh Lowe on Wednesday, September 30th, 2009
Posted in INC Knowledge
Tags: Business Tips, IRS, Taxes



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