Posts Tagged ‘self employment tax’
Extended Payroll Tax Cut Could Benefit Small Business Owners
We’ve discovered some good news for the savvy small business owner. The IRS has extended a 2011 payroll tax cut through the end of February 2012. This tax cut is a 2% reduction in Social Security tax from 6.2% o 4.2%. (which they assure us will have no effect on our [Read More]
5 Ways Tax Planning Can Help the Average Joe
Many people don’t think they make enough to worry about tax planning, but what they don’t realize is no matter what your income level, tax planning can help you make adjustments that will significantly reduce your tax liability. [Read More]
Small Business to be Hit Hard by New SECA Rules
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To avoid paying the 15.3% tax, S Corporations have for years taken advantage of paying cash to shareholders as distributions instead of wages—not exactly what the IRS had in mind. Don’t forget that S Corps also avoid corporate level income taxation too because that [Read More]
New to Self-Employment Business Orientation: How to Avoid Tax Problems & Pave the Way to Success
Today people have more choices than ever before when it comes to making a living. Even those who keep their regular full time positions as employees are taking on side work as independent contractors and some are choosing to make the leap to full time self employment or [Read More]
