Small Business Week

National Small Business Week is here! During this week, the U.S. Small Business Administration shines a spotlight on our nation’s 30 million small businesses. Community events across the country honor entrepreneurs whose achievements over the past year stand out. Recognizing their outstanding service, innovation, and development, Small Business Week celebrates small business owners around the …

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Contribute to an IRA by April 15 to Claim It on 2018 Tax Returns

The following article was published by the IRS.  It’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, …

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There are Six New Schedules Some Taxpayers will File with the New Form 1040

The following article was published by the IRS. The 2018 Form 1040 replaces prior year Forms 1040, 1040A and 1040EZ. The 2018 Form 1040 uses a building-block approach that allows individuals to file only the schedules they need with their federal tax return. Many people will only need to file Form 1040 and no schedules. …

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5 Myths About Payroll Taxes

The following article was published by the SBA. If you want to grow your business, you probably need to hire employees to help you. Becoming an employer and expanding your staff entails many responsibilities, one of which is seeing to payroll taxes. Unfortunately, there are many myths about these taxes. Here is the reality: 1. …

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Here are Five Facts about the New Form 1040

The following article was published by the IRS. There are several changes to the 2018 Form 1040. However, taxpayers who file electronically may not notice the changes as the tax return preparation software guides people through the filing process. The IRS worked closely with its partners in the tax return preparation and tax software industries …

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Safekeeping Tax Records Helps for Future Filing, Amended Returns, Audits

The following article was published by the IRS. With the tax filing season upon us, the Internal Revenue Service wants taxpayers to understand how long to keep tax returns and other documents. The IRS generally recommends keeping copies of tax returns and supporting documents at least three years. Employment tax records should be kept at …

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