ComproTax Talks!

By Kay Bell • Bankrate.com

Whether you are self-employed or an employee, if you use a portion of your home for business, you might be able to deduct the associated costs.
 
A home office [...]

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From Tiare Rath
Owning a small business can be taxing enough without unduly involving the Internal Revenue Service, so take care to avoid small-business audits. Small-business owners, especially sole proprietors, are at special risk of being audited, because the IRS believes self-employment incomes are grossly underreported, experts say. The agency increased its number of small-corporation audits [...]

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It seems repetitious when you read books about different business, and so much emphasis is placed on marketing strategy. The reason that happens is that marketing is such an integral part of any business, whether it’s a home Internet business or a brick and mortar business. After all, without a marketing strategy, how are you [...]

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From Tiare Rath
You’ve decided to open your business and now you’re facing the daunting task of structuring it as a corporation. Many entrepreneurs opt to form limited liability companies or an LLC.
Currently, every state, including the District of Columbia, allows single-owner LLCs. To create an LLC, you’ll need to file the proper documents with [...]

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The IRS has long targeted self-employed taxpayers (aka independent contractors and freelancers) for audits. But the agency might start auditing even more people who own their own business and work for themselves. Mark Minassian, the About.com Guide to Business Law and Taxes, says not just contractors,

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Running a business from home can help you lower your tax bill.
When you use part of your home for business, you may be able to deduct expenses for what the IRS calls the “business use of your home.” If you meet the technical requirements of the tax law, you should be able to deduct a [...]

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By Jan Verhoeff
Everyone has some kind of home office, if you happen to run a business from that home office, it’s deductible. But… There are a few important things you need to do to make certain your deduction is provable.
Clear a specific room or space for your office. Give it a square footage, something [...]

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Jeff Cornwall, The Entrepreneurial Mind, Belmont University
Well, the tax code just got longer, but this time the added pages (now about 65,000 and counting) should help out some small businesses, at least in the short-run.
The Small Business and Work Opportunity Tax Act of 2007 was recently passed in conjunction with legislation to continue [...]

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What You Need to Know About Itemized Tax Deductions
Wondering what items you can deduct from your income taxes, and how to go about doing it? William Perez, a certified public accountant and tax guide for About.com, clarifies what does and doesn’t qualify for itemized tax deductions, explains why, and shows you how to take it [...]

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Without a corporation handling records on your behalf, filing taxes may not go as smoothly as you’d hoped — potentially leaving you on the IRS list of people to audit. No sweat. About.com’s authority on taxes, William Perez, is here to guide you through the ways to avoid and handle IRS tax audits.

1. Freelance Writers [...]

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