Having good records can help you support your revenues and expenses during a tax or financial statement audit. Here's what you need to know.
To elect to be taxed as an S corp you must be an eligible domestic corporation. To see the benefits and know more, click here.
Business owners can be very busy. Having someone look after your kids may come up every now and then. Find out if you qualify for a tax credit.
Employee wages may be a deductible business expense on your Schedule C. To find out more information on requirements, read here.
For a full list of Public Transportation Tax deductions read here. When it comes to filing your taxes, make sure you have all the necessary information needed.
Tax extensions are available to request an automatic 6 month extension for filing purposes. To be understand, read more here.
If you pass the substantial presence test, you will be considered a U.S. resident for tax purposes and would be subject to taxation in the United States.
Tax preparation fees are usually deductible. Find out what tax preparation fees are eligible for deductions. Read more here.
As a member of an LLC, your share of business income is taxed at personal income rates. Be sure to understand how this can affect you. Read more.