Many employees can now do their work from home using modern technology. However, this change may only benefit workers, not the employers. To what extent do you agree or disagree? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write at lea...
Filing your taxes online can seem daunting, but with a little organization and preparation, you can file on time and with accuracy.
Your choice influences everything from operations and taxes to personal liability. What structure is best depends on your business model, industry, funding sources, number of employees, and number of founding members. The simplest business structure is a sole proprietorship, in which you and the ...
Once you start paying your employees, you’ll be responsible for withholding a portion of their income and depositing it to the IRS, as well as making Social Security and Medicare tax payments. The IRS page onDepositing and Reporting Employment Taxesgives you a rundown of the forms you’ll...
Tax benefits:The Roth IRA allows you to invest money after taxes and then take contributions and earnings out tax-free in retirement. Any money in the account can grow tax-free. Early withdrawal rules:Contributions can be withdrawn tax-free, but earnings may be taxed and subject to a 10 pe...
Independent talent has an edge over employees when it comes to up-to-date skills: They’re nearly twice as likely to have completed skills training in the last six months. So, as you start to carve out your new routine as a business owner, consider including time for regular research and...
Working hard all year to help your company meet its annual goals deserves a reward, and you've definitely earned that bonus. But bonuses count toward your income for the year, so they're subject to income taxes. Read on to learn how much tax you can expe
An S corp is a strong option because it prevents the double taxation that is applied to C corps. With an S corp, you can pass through some profits and losses to the small business owners while avoiding corporate taxes. Take a look at the eligibility requirements and figure out which option...
1 This rule is not negotiable and there is a hefty penalty of 25% of the sum you were supposed to withdraw if you don't.2 Why? Because you haven't paid income taxes on that money yet, and the Internal Revenue Service (IRS) wants its cut. The money you take out is then ...
Once you know the total you’ll owe in federal taxes, the next step is figuring out how much you need to have withheld per pay period to reach—but not exceed—that target by Dec. 31. Divide the total by the number of pay periods you expect to have. This will depend on whether you...