Around nine months before taxes are due, many small business owners scramble to file. Over 30% of partnerships push their deadlines into fall, but this habit can backfire. Waiting until the last quarter makes cash flow unpredictable and can turn away lenders who want up-to-date financial records. T
Philadelphia has pushed a new Business Income and Receipts Tax (BIRT) onto small owners, even those with sales under $100, 000. The city will charge $1. 41 per thousand dollars in sales and $57. 10 per thousand in profits, a change that was previously exempt for many sole proprietors. About 75, 000
Taxes aren't just about that big annual filing. For many, it's a quarterly task. Who's on this list? Small business owners, freelancers, and independent contractors. If you expect to owe at least $1, 000 in taxes for the year, you're likely one of them. These quarterly payments are due four times a
California's tax authorities have expanded their reach, catching a Delaware-based LLC in their net. The company, Diet Standards LLC, uses Amazon's Fulfillment by Amazon (FBA) program. They store inventory in Amazon's California warehouses. From there, Amazon ships orders to customers. The California
New Jersey is in a tough spot. The upcoming governor election is heating up the debate on business taxes. Some folks think big companies should pay more. Others argue that high taxes are driving businesses away. Right now, New Jersey has a corporate tax rate of 9% for businesses making over $100, 0
The Texas Senate recently gave the green light to a bill that could significantly ease the tax burden on small businesses. This new law allows businesses to exclude up to $25, 000 worth of equipment, such as computers and furniture, from their taxes. This is a big jump from the previous exemption li
Inflation's been tough on Texas small businesses. Costs are skyrocketing, and owners are losing sleep over it. A recent report by the NFIB showed that supply costs jumped to the second biggest worry from twelfth in 2020. This is bad news for job creators who now face tough choices: raise prices, cut
The presidential election is heating up, and with it, the debate over the best economic strategy for America's businesses. Kamala Harris and Donald Trump have both released their plans, promising to slash taxes and boost the economy. But what do these plans really mean for small and big businesses?
