FREE NEWS ALERTS
A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.

Latest Tax News as of

Small Biz Advocates Brace as ‘Cap and Trade’ Bill Advances to the Senate
Small business advocates have to switch into overdrive now to slow the roll of a controversial “cap and trade” energy bill that threatens to impose as much as $846 billion...
Home Office Deduction Legislation Introduced
Using your home office might just get a whole lot easier under a piece of legislation introduced in both chambers of the U.S. Congress recently. Sens. Olympia Snowe...
Health Care Reform Bill ‘Bad for Small Businesses’
Major health care legislation being drafted on Capitol Hill is under close watch from the small business industry, as reform to the nation’s health care system will have major...
New Strategies to Keep Your Wealth, Despite Washington
This article is a continuation of my series of articles dealing with “How to make it, how to keep it.” Let’s start with some new tax laws Congress is likely to pass before 2009 ends...
Homebuyer Tax Credit May Yet See Big Changes
The first-time homebuyer tax credit is a complicated story that’s unfolding before the nation’s eyes, and it seems that some lawmakers are trying to write additional chapters...
IRS May Impose Licensing Rules on Tax Preparers
The IRS is considering for the first time requiring income tax preparers to be licensed by the federal government as a way to sniff out fraud and ensure compliance with...
IRS Decides to Backtrack On Business Cell Phone Tax
The IRS has decided it doesn’t want to tax personal use of cell phones provided by employers. That law is “burdensome, poorly understood by taxpayers and difficult for...
IRS Warns of The Latest ‘Dirty Dozen’ Tax Scams for ‘09
The IRS recently issued its 2009 “dirty dozen” list of tax scams, including schemes involving phishing, hiding income offshore and false claims for refunds. “Taxpayers should...
Ask the Experts
Question: How do you determine if a person is an employee or an independent contractor? IRS: The determination is complex, but is based on who has the right to control how, when...
July Tax Calendar
July 15: Social Security, Medicare, and withheld income tax. If the monthly deposit... July 31: Certain small employers. Deposit any undeposited tax if your tax liability is $2,500 or more for 2009 but less...

Tax Issues In-depth

Types of Taxes – “Green” Energy Tax Savings #112
The IRS reminds individual and business taxpayers that many energy-saving steps taken in 2009 may result in bigger tax savings next year. The recently enacted American Recovery and Reinvestment...
2009 Stimulus Primer for Small Businesses #121
The American Recovery and Reinvestment Act (ARRA), enacted in February of 2009, created, extended or expanded a variety of business tax deductions and credits. Because some of these changes...
Inflation-Adjusted Tax Numbers for 2009 #107
Tax numbers change frequently. This tax brief lists certain inflation-adjusted numbers for use in preparing 2008 and 2009 tax returns. Be sure to review the instructions for any tax form you are completing to confirm...
Types of Taxes – Fringe Benefits #114
From the point of view of the IRS, a fringe benefit is a form of pay for the performance of services, such as permitting an employee to use a business vehicle to commute to and from work. The IRS considers you the provider...
Home-Equity Loans #109
Home-equity loans and home-equity lines of credit are often popular among small business owners looking to leverage their equity for business interests or to pay off bills or send a child to college. However, you need to...
Deducting Mortgage-Related Expenses #108
Your home can be a shelter in more ways than one. The IRS establishes dozens of specific guidances on exactly which mortgage-related expenses can be deducted from annual taxes. Special circumstances notoriously...
Business – Partnerships #103
Small business owners, start-ups and entrepreneurs often have trouble getting a great idea off the ground, or taking their initial success to the next level. So, in an effort to gain a boost, a competitive edge or to minimize...
Business – Alternative Financing #119
In times of economic trouble, small businesses often find capital harder to come by as lending is scarce, borrowing rates are high and financing is all-around less available. But business owners in all sectors are...

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