Category Archives: Business

IRS Releases Form to Help Small Businesses

The Internal Revenue Service today released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns next year. The IRS also … Continue reading

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Six Tax Tips for New Business Owners

Are you opening a new business this summer? The IRS has many resources available for individuals that are opening a new business. Here are six tax tips the IRS wants new business owners to know. First, you must decide what … Continue reading

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Form to Claim Payroll Tax Exemption for Hiring New Workers Now Available

The Internal Revenue Service has posted on its website the newly-revised payroll tax form that most eligible employers can use to claim the special payroll tax exemption that applies to many new workers hired during 2010. Designed to encourage employers … Continue reading

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IRS Offers Details on New Small Business Health Care Tax Credit

The Internal Revenue Service issued new guidance to make it easier for small businesses to determine whether they are eligible for the new health care tax credit under the Affordable Care Act and how large a credit they will receive. … Continue reading

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Five Tips for Great Record-Keeping

There are many records you have that may help document items on your tax return. You’ll need this documentation should the IRS select your return for examination. Here are five tips from the IRS about keeping good records. Normally, tax … Continue reading

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Tax-Free Employer-Provided Health Coverage Now Available for Children under Age 27

As a result of changes made by the recently enacted Affordable Care Act, health coverage provided for an employee’s children under 27 years of age is now generally tax-free to the employee, effective March 30, 2010. The Internal Revenue Service … Continue reading

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Open House on Saturday May 15 to Help Small Businesses, Individuals Solve Tax Problems

The Internal Revenue Service will host a special nationwide Open House on Saturday May 15 to help small businesses and individuals solve tax problems. Approximately 200 IRS offices, at least one in every state, will be open May 15 from … Continue reading

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COBRA Subsidy Eligibility Period Extended to May 31

Workers who lose their jobs during April and May may qualify for a 65-percent subsidy on their COBRA health insurance premiums, according to the Internal Revenue Service. The American Recovery and Reinvestment Act established this subsidy to help workers who … Continue reading

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IRS Reaches Out to Millions of Employers on Benefits of New Health Care Tax Credit

The Internal Revenue Service this week began mailing postcards to more than four million small businesses and tax-exempt organizations to make them aware of the benefits of the recently enacted small business health care tax credit. Included in the Patient … Continue reading

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Two New Tax Benefits Aid Employers Who Hire and Retain Unemployed Workers

Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part time. These provisions are part of the Hiring Incentives to Restore Employment (HIRE) Act enacted into law today. Employers who hire … Continue reading

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