8 Things Entrepreneurs Should Keep in Mind for Tax Season

Most entrepreneurs clinch at the sound of the word “taxes.” And it’s not simply out of a fear of paying large sums of money to Uncle Sam. It’s more because of the complexity – the multiple layers and branches of compliance associated with taxes. This is not true for everyone, but there might be some who would rather pay a little more in taxes in exchange for some relief from the burden of the paperwork, research, and unknown final results of filing tax reports.

But entrepreneurs need to come to grips with the fact that taxes are an inevitable part of being in business. The best antidote for the fear and dread associated with taxes is preparation. Planning, knowledge, and information help to reduce the anxiety about dealing with the mean IRS.

Of course, no one will ever know everything about taxes – industry trends, compliance issues, and even simple changes in government all lead to regular changes in the tax code. But knowing some basics about your tax situation and knowing where to turn to when your situation changes can help you confront the fear of what will happen if you receive bad news from the IRS.

Entrepreneurs can confront their fears and address their tax obligations through planning and preparation. Here are the basic steps every entrepreneur should consider:

April 5th, 2017|Tax|0 Comments

Read More

Where is my W-2?

If you switched employment in 2016, you may not have received an email notification that your W-2 is available online. This may not mean that your prior employer did not send you notification, but rather that the employer does not have your correct email address.

January 25th, 2017|Tax|0 Comments

Read More

Tax Readiness Checklist

tax-article-option3

Tax season is around the corner… A little planning before year-end can make all the difference.

Are we really talking about taxes again? It feels like just yesterday I was writing about how to track down your W-2 and how to avoid missing important deadlines for key tax saving opportunities. Well, since January is almost here, I want to (share a few tips to help you cruise through yet another tax season. The following list is not all-inclusive. Talk to your tax professional to ensure you are aware of all factors impacting your taxes. 

December 7th, 2016|Tax|0 Comments

Read More