If you have a business and you have employees, then you need a Federal Employer Identification Number, or EIN. Basically, it is a number that the Internal Revenue Service uses to identify your business.
By Roberto Neuberger If you plan to submit an application to the IRS for tax exempt status, you better do your homework. Because the application is long, complex, and could be delayed (and often is) if not done properly.
By Alex Goumakos * Someone once remarked, “Next to being shot at and missed, nothing is quite so satisfying as an income tax refund.” There’s no question that saving money in taxes is high on everybody’s list of financial priorities, especially self-employed business owners.
By Alex Goumakos While there are many equally valid reasons to incorporate, saving money on taxes is a consideration that can yield relatively immediate results. Leasing assets to your corporation is a tax strategy you should absolutely consider if you already have a corporation or are thinking about forming one. Here’s how it works. Just […]
As usual, this time of the year, the IRS will shut down its online system to obtain Employer Identification Numbers. The “Planned Outage” starts tomorrow, Dec. 29, 2115. The planned maintenance begins at 6 p.m. local time on Tuesday, Dec. 29, 2015 through Friday, Jan. 1, 2016. In practical terms, the activities will resume on […]
Understanding the advantages and disadvantages of tax exempt status is critical to determining whether this is an appropriate business structure for your organization. There are a number of pros and cons to becoming tax-exempt.
As you plan the launch of your business startup, are you finding yourself in a little bit of sticker shock when it comes to credit card processing fees? Monthly fees, plus a percentage of each transaction, statement fees, and the purchase of terminals and other equipment can quickly take a significant bite out of your […]
If you opened your business in 2011, you are now faced with the task of filing business taxes. For some businesses, this isn’t a challenging task but for most, it involves some tax regulations that were never encountered for individual or family tax returns. Here are a few ideas that may help.