Taxes can be tricky for real estate professionals. You might have a lot of expenses maintaining your properties, but how do you report those on your tax return? The IRS has specific restrictions on rental real estate income and how to report it, but they also offer deductions for many eligible business expenses. If you […]
Florida offers a large population, several industries for small businesses to grow, and a year-round climate for visitors to the state. Starting a small business in Florida may seem simple, but you should still know a few things. Here are the steps to follow if you want to start a small business in Florida. Benefits […]
Filling out the federal tax return for yourself or your business can be hard enough, but you’re not finished until you’ve handled state taxes as well. Each state has its own unique rules and regulations for taxes on small businesses. A few states don’t have an income tax for you to worry about, but California […]
Every small business has to deal with taxes, but not every company and business owner handles them equally well. Many business owners barely get by, turning in tax returns at the last minute and praying to avoid an audit. And that’s understandable! Tax law is almost endlessly complex, and specific requirements change all the time. […]
The third stimulus bill is undergoing modifications with a Senate vote pending. While the next stimulus bill has yet to become law, there are dozens of ways it could improve your quality of life. As the nation continues to suffer the effects of COVID-19’s economic losses, many look forward to the next stimulus bill’s passage. […]
Tax law is by far the most complicated field of law in the United States. And if the federal tax system isn’t enough, each state has different laws and requirements around taxes. Small business owners have a responsibility to learn and comply with those obligations under both the federal system and the state or states […]
Running a veterinary practice is a lot of work. Between providing care on the medical side and managing your business on the administrative side, it can be hard to balance and keep your priorities in order. You want to focus on the animals you love so much, but how can you concentrate when you have […]
Factoring in tax rates is an essential part of effectively managing a business’s finances. While tax rates increase the amount a small business charges, tax rates may also have consequences for consumers. Here’s an overview of sales tax rates, tax rates for previous years, and what raised tax rates could mean for consumers and small […]
Each Lyft and Uber driver has to file their own tax return as an independent, self-employed individual. Some recent California laws have mandated that rideshare companies employ drivers directly. However, until other states do so as well, individual rideshare drivers are independent contractors. That means each Uber driver essentially represents their own small business. This […]
As a rideshare driver, you are considered self-employed and treated as a business by the IRS. However, this may change if local or state laws require Uber or Lyft to employ drivers directly. Tax obligations can be incredibly complicated for Uber and Lyft drivers. You don’t have an employer handling many tax compliance concerns for […]
