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Tips for Taxpayers Who Make Money From a Hobby

Posted by Scott Farnes on Feb 20, 2020 8:14:00 AM

Many people enjoy hobbies that are also a source of income. From soap making and pottery to calligraphy and designing jewelry, these activities can be sources of both fun and finances. However, taxpayers who make money from a hobby should know that they must report that income on their tax return.

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Topics: Business Ownership, Personal Finance, Taxes, Small Business, Tax Return

Reminder: Use Correct Forms to Pay Employment Taxes

Posted by Scott Farnes on Jan 29, 2020 8:03:00 AM
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Topics: Business Ownership, Taxes, Small Business

Employer Benefits of Using the EFTPS

Posted by Missy Dennis on Dec 19, 2019 8:11:00 AM
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Topics: Business Ownership, Taxes, Small Business

Recordkeeping Tips for Small Business Owners

Posted by Taylor Bennett on Dec 12, 2019 8:18:00 AM
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Topics: Business Ownership, Record Keeping, Small Business

Updated Rules: Deductible Business & Other Expenses

Posted by Scott Farnes on Dec 11, 2019 8:44:00 AM
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Topics: Business Ownership, Taxes, Tax Deduction

Business Expense Deductions for Meals, Entertainment

Posted by Taylor Bennett on Nov 7, 2019 8:17:00 AM
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Topics: Business Ownership, Tax Deduction, Business Expenses

Seasonal Workers and the Healthcare Law

Posted by Taylor Bennett on Nov 5, 2019 8:09:00 AM
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Topics: Business Ownership, Seasonal Employee, Seasonal Worker

Employer Credit for Family and Medical Leave

Posted by Taylor Bennett on Oct 7, 2019 2:00:00 PM

Thanks to the passage of the Tax Cuts and Jobs Act last year, there's a new tax benefit for employers: the employer credit for paid family and medical leave. As the name implies, employers may claim the credit based on wages paid to qualifying employees while they are on family and medical leave.

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Topics: Business Ownership, Taxes, Tax Credit

The Home Office Tax Deduction for Small Business

Posted by Taylor Bennett on Oct 4, 2019 12:20:09 PM

If you're a small business owner who uses your home for business you may be eligible to claim the home office deduction, which allows you to deduct certain home expenses on your tax return. The benefit to this, of course, is that it can reduce the amount of your taxable income.

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Topics: Business Ownership, Tax Deduction, Small Business