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US Business Law / Taxes: Most Popular Articles

These articles are the most popular over the last month.
Disregarded Entity
Definition of a disregarded entity as a business entity which elects not to be separate from its owner for tax purposes.
How to Calculate Cost of Goods Sold
This article takes you through the process of determining cost of goods sold for your business tax return.
Forms You Must Have New Employees Complete at...
This article lists the forms you must have a new employee complete, including the W-4 form, state income tax withholding form, I-9 form, and a job application form.
Corporate Tax Rates
Corporate Tax Rate - the federal income tax rate charged to corporations, based on level of income reported on corporate income tax Form 1120.
Business Owner Salary and Distribution of...
Answers to questions about how business owners are paid and business owner salary. How owners of each business type are paid, how much salary should a business owner take, and more.
What Business Type Is Best For Me?
Discusses different types of business entities and which is best for different kinds of businesses
What Kind of Partnership Do You Want?
Partnership Types: Limited Partnership, Limited Liability Partnership, General Partnership
Indemnity Agreement
Indemnity agreements - what they are, how they work, where are they found in contracts and insurance contexts.
Cost of Goods Sold (Cost of Sales)
Cost of Goods Sold. US Business Law / Taxes.
What Is Litigation?
Litigation definition. US Business Law / Taxes.
Social Security Tax - Annual Maximum Social...
Describes the Social Security tax for employees and employers, including the annual maximum social security tax.
Form 941 - Employer's Quarterly Federal Tax Form
Explains IRS Form 941 - Employer's Quarterly Federal Tax Form
Taking the Mystery out of Depreciation...
Shows methods for calculating depreciation
What Is My Legal Obligation to Pay Employees?
Attorney Michael Helfand discusses the legal obligation of employers to pay employees, and what happens if employees are not paid.
Depreciation
Depreciation. US Business Law / Taxes.
Fiduciary - Fiduciary Responsibility
A fiduciary responsibility and the person who is a fiduciary
How To Collect, Report, and Pay State Sales Taxes
How to collect state sales taxes from customers, file state sales tax returns, and pay sales taxes you have collected
I9 Form - Employment Eligibility Verification
I-9 Form - I-9 Immigration Form. US Business Law / Taxes.
Principles of Contracts and Agreements
What you need to know about business contracts and agreements, including the difference between a contract and an agreement, how to read a contract, which types of contracts must be in writing, essential elements of a contract, and what makes a contract valid.
What Is a Budget?
Creating a budget for your business works the same way as a personal budget.
Should My LLC be Member-Managed or Manager-mana...
Discussion of pros and cons of having a member-managed LLC or a manager-managed LLC.
The 4 C's of Credit for Business Loans
Describes the four C's of credit - character - capacity - collateral - capital
What's the Difference Between a Sole Proprietor...
Difference between a sole proprietor and an independent contractor. They are essentially the same: A sole proprietor files income taxes on Schedule C. An independent contractor receives income on a Form 1099-MISC. Income from a 1099 can be included in a Schedule C.
How Does a Sole Proprietor Get Paid?
How a sole proprietor gets paid, by taking a draw from the business checking account. How taxes are paid on the sole proprietor's income.
LLC Member Capital Contributions
About LLC member capital contributions, including requirements for initial contributions, how the operating agreement works with member contributions, how contributions are disbursed, and member loans vs. contributions.
Tax Return Due Dates for Business Types
Here is a list of the federal income tax return due dates for sole proprietorships, LLCs, partnerships, corporations and s corporations.
Excise Tax
Excise Tax. US Business Law / Taxes.
What is a Per Diem Rate? What Do I Need to Know...
Defines per diem rates for business travel, how per diem rates are determined, how the General Services Administration sets per diem rates.
What is the Capital Gains Tax Rate?
Capital Gains Tax Rate. US Business Law / Taxes.
Nexus (Tax Nexus)
: A nexus in general means a connection. The term nexus is used in tax law to describe a situation in
Proxy Statement - Voting by Proxy
Proxy statement and voting by proxy
Capital Expenses
Capital expenses US Business Law / Taxes.
Should I Loan Money to My Business or Invest...
Describes the two ways you can give money to your business - loans or investments
How Do I Calculate Gross Pay for Salaried and...
How to calculate gross pay for hourly and salaried employees, including overtime calculation.
Schedule K-1
Schedule K-1 is used to show income/loss for individual partners in a partnership or (different form) individual shareholders in an s corporation. A partnership schedule K-1 shows the partner share of income/loss from a partnership. An S corporation K-1 shows individual shareholder income/loss.
Capital
Capital definition. US Business Law / Taxes.
Meals and Entertainment Expenses
Meals and Entertainment Expenses
Hiring and Paying an Independent Contractor
If you are considering hiring an independent contractor, here are some tax considerations and employment agreements you should should know about.
FIFO Inventory Cost Method
: FIFO , which stands for "first-in-first-out," is an inventory costing method which assumes that the
What is the Difference Between a Tax ID,...
Difference between a tax ID number, EIN, and ITIN
What's the Difference Between Salaried and...
Salary vs. Hourly pay for employees
How Do I Calculate the Amount of FICA Tax...
How to calculate the deduction for FICA taxes from employee paychecks.
Breach of Contract
Breach of contract is an important provision in business lawsuits. Breach of contract is defined, how a breach of contract comes about, defenses against breach of contract, and remedies if breach of contract has been determined by the court.
All About Payroll Taxes
All about payroll taxes: What are they? How are they calculated? How are they paid? What are payroll tax reports? When do you file payroll tax reports? How do you file payroll tax reports?
How Often Should I Pay Employees?
How often you pay employees is not regulated by the IRS or any state. You can pay employees weekly, bi-weekly (every other week), semi-monthly (twice a month) or monthly. This article discusses each payroll option.
When Do I Make Payroll Tax Deposits?
Discusses when to make payroll tax deposits
Can My Business Deduct Charitable Contributions?
Discussion of how charitable contributions are deducted by businesses.
What is the Difference Between an LLC and a...
Should you choose an LLC or corporation for your business? A discussion of features of limited liability company (LLC) and corporation - differences and similarities.
First Steps to Starting a Business
Start a Business by Following These Steps
Owners Equity
Definition of owners equity. US Business Law / Taxes.
Taxes Paid by Limited Liability Companies - LLC...
Lists all the taxes a limited liability company pays including income taxes, self-employment taxes and employment (payroll) taxes, sales and excise taxes, and property taxes.
How To Complete Your Tax ID Number Application...
Here are the steps for completing the Form SS-4 to get a Tax ID Number for a new business.
What are Commuting Expenses? Can I Deduct...
Defines commuting expenses and describes what car/truck expenses a business owner can deduct for commuting and which cannot be deducted.
How To Complete Schedule C for a Sole...
Instructions on how to complete Schedule C for a Sole Proprietorship or Single-member LLC - for Form 1040.
What is an Affiliate
Affiliate US Business Law / Taxes.
How Do I Make Sure the IRS Receives My Federal...
How to be sure your federal tax return is filed before the deadline and received by the IRS.
What is a W-3 Form?
Describes the W-3 form. . US Business Law / Taxes.
Calculating Mileage Expenses for Business
Here is a brief overview of how to calculate mileage expense for business.
Calculating income tax withholding for employee...
How to calculate federal income tax (FIT) withholding from employee paychecks.
Real Property
Real Property. US Business Law / Taxes.
Using Cash to Pay Employees and Independent...
Paying employees and independent contractors in cash doesn't mean evading payroll taxes. Some issues to consider for paying in cash, and how the IRS looks at cash payments.
Form 940 - Employer's Annual Federal Unemployme...
Form 940 - Employer's Annual Federal Unemployment (FUTA) Tax Return
Pay Period
Pay Period. US Business Law / Taxes.
How Does a Limited Liability Company Pay Income...
Describes how a single-member limited liability company or multiple-member limited liability pays income tax.
What are Tax and Liability Issues for a...
A tax attorney's discussion of tax and liability issues for a disregarded entity.
Employee Gifts, Awards, Bonuses - What's...
Business gifts have tax implications. For example, gifts to employees may be taxable to the employee and may be deductible to the business. Gifts to customers and business partners and associates may also be taxable, and you may not be able to take a tax deduction. And what about gifts to charities? Are those deductible to the business?
What is Petty Cash?
Petty cash defined and some petty cash management details described
What is the Difference Between Depreciation and...
This article explains the difference between depreciation and amortization.
IRS Standard Mileage Rate
IRS Standard Mileage Rates. US Business Law / Taxes.
Filing an Extension Application for Corporate,...
Form 7004 - Filing an Extension for corporate taxes and S corporation taxes. Filing an extension for partnership taxes and multiple-member LLC taxes.
Why Do I Need a Personal Guarantee for a...
: Why Do I Need a Personal Guarantee for a Commercial Lease? : When I talk to people who are getting
What is the Difference Between a Capital Lease...
Choosing capital leases vs. operating leases for business equipment leases: capital leases for long-term and operating leases for short term, with other important differences.
Which Business Legal Type is a Disregarded...
Describes what business types are considered disregarded entities.
What Kinds of Business Contracts Must Be in...
Some kinds of contracts must be in writing, according to the statute of frauds.
Find State Tax Information on your State's...
Find information on taxes in your state by using this listing of state departments of revenue
Form W-4 - Employee's Withholding Allowance...
Form W-4 -- Employee's Withholding Allowance Certificate
Gross Pay
Gross Pay. US Business Law / Taxes.
What Does the term "Payroll" Mean?
Payroll definition. US Business Law / Taxes.
How Do I Calculate Estimated Taxes for My...
Ways to calculate estimated taxes for a self-employed business owner filing business taxes using Schedule C.
How Do I Determine my Company's Fiscal Year?
How to determine the date for your company's fiscal year end.
Employee
Describes an employee. US Business Law / Taxes.
How Do I Create a Simple Sources and Uses of...
Describes how to prepare a simple sources and uses of funds statement
Your Guide to Preparing and Distributing...
Describes the information you need and the process of completing the 1099-MISC form for non-employee workers.
Business Mileage Rate for 2014
The IRS has announced the 2014 mileage rates for taxes, for business travel, medical/moving, and volunteer travel.
Can I Enter into a Contract with a Minor?
Discussion of the issues related to entering into a contract with a minor. A minor can disaffirm or void a contract, leaving the other party in a difficult situation.
How Does a Partnership Pay Income Tax?
How a partnership pays income tax.
How Do I Include My Business Tax Information in...
How to include your business tax information in your personal tax return.
How Do I File an Entity Election for an LLC?
How to file an entity election for an LLC on Form 8832.
How Business Types Pay Business Income Tax
How each business legal type pays income tax, including forms and processes.
Arbitration vs. Litigation - What is the...
Describes the arbitration process vs. the litigation process
Cash Flow
Cash Flow. US Business Law / Taxes.
Am I an Owner or an Employee?
Discussion of the different legal business types and the status of the owner in each - as owner or employee. Includes a discussion of how the owner takes money from the business.
What are the Tax Differences Between an LLC and...
Attorney Robert Warwick discusses the s corporation business form vs. the limited liability company.
Invoice
Describes an invoice. US Business Law / Taxes.
How Do I Remove a Board Member?
Some ways to remove a board member or director.
Hiring Your Spouse, Child, or other Family Member
Having family help in your business can be great, but there are some tax issues you need to know about before hiring a spouse, child, or other family member.
Personal Property
Personal Property. US Business Law / Taxes.
What are "Social Security Wages"? What Wages...
Discusses which types of payments to employees are exempt from FICA (Social Security/Medicare) tax.
What is the Difference Between an Independent...
The IRS sets requirements for categorizing workers as independent contractors or as employees. Here is a brief discussion of the distinctions.
Purchase Order
Defines a purchase order and describes the parts of this order.
What is the Difference between a Sole Prop, a...
This article discusses the differences between a sole proprietor type of business and the other business types - partnership, LLC, and corporation.
Viability (of a Business)
Viability of a business. US Business Law / Taxes.
FICA Taxes
FICA taxes explained. US Business Law / Taxes.
What is a Retainer?
Retainer defined, including legal retainers as an option for paying an attorney, and retainers for other professionals.
Capital Contribution
Definition of a capital contribution
Who Should Own a Business Car - the Company or...
Who should own a car for business use - the company or the employee?
How Do I Submit Payroll Taxes to the IRS?
As a business owner, you have several ways to pay your employment taxes. Here are your options.
Who Must Be Paid Overtime and When - Federal...
What is overtime pay, how overtime pay is calculated, who must be paid overtime, and why some employees are exempt from overtime.
Accounts Receivable Aging
Accounts Receivable Aging. US Business Law / Taxes.
What are the Tax Advantages and Disadvantages...
An LLC has some advantages, from a tax standpoint, but it also has some disadvantages. This article describes both the advantages and disadvantages of an LLC so you can get more information on which to base a decision. The taxes for an LLC are compared to the taxes paid by a corporation or by the owners of a corporation.
form W-4 - Employee's Withholding Allowance...
Form W-4 -- Employee's Withholding Allowance Certificate
Non-Compete, Non-Disclosure, and Non-Solicitati...
Explains the differences between a non-compete agreement, a non-disclosure agreement, and a non-solicitation agreement.
Zoning
Zoning. US Business Law / Taxes.
Do I Have to Charge Sales Tax? How Do I Charge...
Paying Sales Tax to State. US Business Law / Taxes.
Per Diem - Per Diem Rates
Per Diem Definition and Per Diem Rates
How to Calculate Deductions from Employee...
Employee paychecks start out as gross pay, but then you must deduct amounts for federal income tax, FICA tax, state and local tax, and other deductions.
What are the Tax Differences Between an S...
A CPA discusses taxes for S Corporations vs. LLCs.
How is Depreciation Shown on the Financial...
Discussion of how depreciation is displayed on the balance sheet and income statement of a company
What Can I Do About Nonpayment for My Services...
How to deal with non-payment by employer and make sure you get paid for your services, either as an employee or as an independent contractor. You will need proofs, or a contract. Sometimes you will have to take the party to court to get paid.
Arbitration
Arbitration US Business Law / Taxes.
Incorporator
Description of the job of an incorporator in setting up a corporation
Negligence - Negligent
Negligence defined, including standard of care, contributory negligence, comparative negligence, assumption of risk, and remedies.
How do I Keep Personal and Business Funds...
How to keep business and personal funds separate
Form 1096 - Annual Summary and Transmittal of...
Describes Form 1096 - Annual Summary and Transmittal of U.S. Information Returns
Where Do I Find Forms for New Hires?
Where to get new hire forms - W-4 form, state withholding form, I-9, job application. How to sign up for E-verify and state employment registration. Finally, where to find new hire forms.
I Have Some Questions About Business Mileage...
Discussion of business mileage, including standard mileage vs. actual, how to calculate business mileage, and answers to questions about business mileage.
Notary Public
: A notary public (pl., notaries public) is a public official who is given the authority to acknowledge
How To Complete Form 941 - Employers Quarterly...
Form 941 - 941 Form - How to Complete Form 941
What Do I Need to Know about LLC Members?
All about LLC members, including the difference between a single-member LLC and a multiple member LLC, how LLC members pay income taxes, member liability, members as employees,how to add a member, and more.
Basic Guide to Form 1120 - U.S. Corporation...
This article provides a general outline of the information required on Form 1120 - U.S. Corporation Income Tax Return, including schedules.
FUTA (Federal Unemployment Tax Act) Tax
FUTA - Unemployment Tax. US Business Law / Taxes.
LIFO (Last-In-First-Out) Inventory Cost Method
A description of the inventory accounting term LIFO and how to calculate inventory cost using the LIFO (last in first out) method. The article also describes other accounting valuation methods.
Limited Liability Company - LLC
Limited Liability Company LLC. US Business Law / Taxes.
Cost of Goods Sold and Business Income Taxes
Cost of goods sold is a calculation businesses use to determine cost of sales for products produced and sold by the company. Cost of goods sold involves inventory, LIFO and FIFO costing, and more.
Member (of a Limited Liability Company)
Member of a Limited Liability Company
Which Form Should I Use to Report Income - A...
Explains the difference between using a W-2 to report income to employees and a 1099-MISC to report income to independent contractors.
Principal (of a Loan)
Principal on a loan. US Business Law / Taxes.
What Products and Services are Subject to Sales...
How to determine what products or services are subject to sales tax in your state.
What Is a 1099-MISC?
Describes a 1099-MISC form, how it is filed and how the recipient includes it in his or her income taxes.
How Do I Notify Federal, State, Local Agencies...
How to notify federal, state, local agencies about your business address change.
Advertising Expenses
Advertising Expenses: What you can and cannot deduct, and some special notes.
Can I Deduct My Business Start-up Costs? How Do...
You can deduct the costs to start a business. Some costs can be deducted in the first year of business, while others can be amortized (spread out) over the first 60 months.
What are the 2014 Changes to IRS Form 941?
Changes to IRS form 941 for 2014 include the additional Medicare tax for higher income employees, and a change in COBRA premium assistance payments.
Duties of a Corporate Board of Directors
Describes the duties of a Board of Directors for a Corporation including board fiduciary responsibility
Solvency
Solvency. US Business Law / Taxes.
How Do I Prepare Form 1099-MISC for 2013?
This article provides information for employers on how to submit Form 1099-MISC for 2013, including whether to use the 2013 version of form Form 1099-MISC or Form W-2 to report contractor tax information, how to complete form 1099-MISC 2013, how to file form 1099-MISC for 2013 with the IRS along with Form 1096, how to correct a 1099, what if you file late, and where to get 1099 forms.
What is the Difference Between Exempt and...
Discussion of the difference between exempt employees and non-exempt employees
Why Does My Small Business Need a CPA? How Can...
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Travel Expenses
Describes expenses you can deduct while traveling away from home for business purposes, including transportation, meals and entertainment, car/truck expenses, lodging, phone, tips, and other miscellaneous expenses.
Business Car Leasing vs. Buying - Which is Best?
Car Leasing vs. Buying. US Business Law / Taxes.

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