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US Business Law / Taxes: Most Popular Articles

These articles are the most popular over the last month.
Social Security Maximum - Updated for 2015
Describes the Social Security tax for employees and employers, including the annual maximum social security tax and how the maximum social security tax is determined.
Thinking About Employee Gifts or Bonuses? Read...
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.
What's the Corporate Tax Rate in America?
A chart showing the corporate tax rates - the federal income tax rate charged to corporations, based on level of income reported on corporate income tax Form 1120.
What Kind of Partnership Do You Want to Start?
Partnership Types: Limited Partnership, Limited Liability Partnership, General Partnership and Limited Liability Company
Disregarded Entity
Definition of a disregarded entity as a business entity which elects not to be separate from its owner for tax purposes.
Should Your Employees Be Salaried or Hourly?
Salary vs. Hourly pay for employees. How to calculate salary and hourly rates. Overtime exemption.
How is Gross Pay Calculated?
Gross Pay. US Business Law / Taxes.
How Depreciation Affects Business Taxes
What is depreciation, how is depreciation calculated, and how depreciation affects business taxes. Includes bonus depreciation and Section 179 deductions.
Want a Business Loan? First, Check the 4 C's of...
Describes the four C's of credit - character - capacity - collateral - capital
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. Knowing the cost of the goods you sell allows you to take a larger tax deduction
What Does an Indemnity Agreement Look Like?
Indemnity agreements - what they are, how they work, where are they found in contracts and insurance contexts.
What Happens If I Don't Pay Employees?
Attorney Michael Helfand discusses the legal obligation of employers to pay employees, and what happens if employees are not paid.
What Does a Corporate Board of Directors Do?
Describes the duties of a Board of Directors for a Corporation including board fiduciary responsibility
What's the difference between tax avoidance and...
The difference between tax evasion and tax avoidance
The Simple Way to Calculate FICA Tax Withholding
How to calculate the deduction for FICA taxes from employee paychecks.
What business type is best for my company?
Discusses different types of business entities and which is best for different kinds of businesses
Before You Shake Hands with Your First New Hire...
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.
Note These Filing Deadlines for 2014 Business...
Here is a list of the federal income tax return due dates for sole proprietorships, LLCs, partnerships, corporations and s corporations.
What Is Litigation?
Litigation definition. US Business Law / Taxes.
How to Calculate Gross Pay for All of Your...
How to calculate gross pay for hourly and salaried employees, including overtime calculation.
What is the 2014 Mileage Rate for Business Taxes?
The IRS has announced the 2014 mileage rates for taxes, for business travel, medical/moving, and volunteer travel.
How Do I Remove a Board Member?
Some ways to remove a board member or director.
What's a Capital Contribution? How Does a...
A capital contribution is money a business owner contributes to a business. How a capital contribution works and why it's different from an owner loan.
3 Ways to Identify Yourself to the IRS
Difference between a tax ID number, EIN, and ITIN
Everything You Wanted to Know About Your Board...
Everything you need to know about board of directors, including compensation, how to select, fiduciary duties, conflict of interest.
How is Tax Nexus Determined?
Describes the term. US Business Law / Taxes.
Want to Deduct Your Business Mileage? You'll...
IRS Standard Mileage Rates for each year from 2009 to the current year.
What Is a business budget?
Creating a budget for your business works the same way as a personal budget.
What Makes a Good Contract or Agreement?
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.
The Special Tax Only Some Businesses Pay
Excise Tax. US Business Law / Taxes.
Can My Business Deduct Charitable Contributions?
Discussion of how charitable contributions are deducted by businesses.
What is the Capital Gains Tax Rate?
Capital Gains Tax Rate. US Business Law / Taxes.
7 Things Every Employer Should Know About FICA...
All about FICA taxes, including what they are, how to calculate them, OASDI, limits on FICA withholding, and more.
Fiduciary - Fiduciary Responsibility
A fiduciary responsibility and the person who is a fiduciary
End of Year Employee Paychecks - Which Year's...
End of year paychecks - which year counts for W-2 income purposes? It depends on when the paycheck is issued.
4 Types of Pay Periods Defined
Pay Period. US Business Law / Taxes.
How Timing Income and Expenses Can Save Money...
How to time business income and expenses at the end of a tax year to place the income or expense in the best tax year for minimizing business taxes.
4 Things Explained by Cost of Goods Sold
Cost of Goods Sold. US Business Law / Taxes.
Own a Business? Here's How to Pay Yourself
How business owners are paid. Business owners don't take a salary but are paid from profits. How corporation business owners are paid.
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.
10 Payment Types That Are Exempt from FICA Tax
Discusses which types of payments to employees are exempt from FICA (Social Security/Medicare) tax.
What are the Tax Implications of Giving...
Employee bonuses and their tax implications - tax deductible to employers and taxable to employees.
Is Arbitration Better than Litigation?
Describes the arbitration process vs. the litigation process, with points of differences and similarities.
Want to Get Paid? You'll Need One of These.
Describes an invoice. US Business Law / Taxes.
When Does the Fiscal Year End?
How to determine the date for your company's fiscal year end.
2 Reasons to Call Your Company a Disregarded...
Describes what business types are considered disregarded entities.
What is the Principal of Your Loan?
Principal on a loan. US Business Law / Taxes.
3 Definitions of Business Capital
Capital definition. US Business Law / Taxes.
Form 941 for Payroll Taxes - Due Dates -...
Form 941 is the quarterly tax return for payroll taxes. Due dates, how to complete, and current changes.
Employer's Guide to Payroll Tax Deposits
Discusses when to make payroll tax deposits.
Travel for Business? Don't Forget This Deduction.
Here is a brief overview of how to calculate mileage expense for business.
Who Must Be Paid Overtime and When - Federal...
Overtime/Overtime Pay. US Business Law / Taxes.
The Difference Between Capital and Operating...
Capital expenses US Business Law / Taxes.
Why You Shouldn't Pay Employees in Cash
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.
How to Create a Sources and Uses of Funds...
Describes how to prepare a simple sources and uses of funds statement
How to Apply for an Employer Identification...
Here are the steps for completing the Form SS-4 to get a Tax ID Number for a new business.
The Employer's Guide to FICA Taxes
FICA taxes explained. US Business Law / Taxes.
How (and Why) to Use a Purchase Order
Defines a purchase order and describes the parts of this order.
How to Calculate Withholding Amounts for...
How to calculate federal income tax (FIT) withholding from employee paychecks.
Form I-9 for employment verification -...
I-9 Form - I-9 Immigration Form. US Business Law / Taxes.
How to Pay State Sales Taxes in 8 Steps
How to collect state sales taxes from customers, file state sales tax returns, and pay sales taxes you have collected
How Do I Calculate Estimated Taxes?
Ways to calculate estimated taxes for a self-employed business owner filing business taxes using Schedule C and previous tax years.
3 Types of Business Partnerships Explained
A Partnership is a legal relationship formed by the agreement between two or more individuals to carry on a business as co-owners.
2 Types of Business Leases Compared
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.
How to Have Your LLC Taxed as a Corporation
How to file an entity election for an LLC on Form 8832.
Small Business Tax Changes for 2014
Tax Changes in 2014 for small businesses: Social Security maximum tax, depreciation allowances, IRS mileage rate changes, and additional Medicare taxes.
2 Ways Owners Equity Can Be Expressed
Definition of owners equity. US Business Law / Taxes.
What Should be Included in a Partnership...
Partnership agreement terms. US Business Law / Taxes.
Sole Proprietorship? Here's How to Complete...
Instructions on how to complete Schedule C for a Sole Proprietorship or Single-member LLC - for Form 1040.
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.
Your Guide to Preparing and Distributing...
Describes the information you need and the process of completing the 1099-MISC form for non-employee workers.
Do You Know How to Use This Inventory Costing...
FIFO is a method of costing inventory for accounting purposes. Learn more about what FIFO stands for.
9 Resources for Hiring Independent Contractors
If you are considering hiring an independent contractor, here are some tax considerations and employment agreements you should should know about.
Is It Smart to Loan Your Business Money?
Describes the two ways you can give money to your business - loans or investments
The Difference Between Real and Personal Property
Personal Property. US Business Law / Taxes.
Petty Cash - Why It's Important to Your Business
Petty cash - what is it? Why is petty cash important to your financial system? How petty cash affects taxes. How to set up a petty cash system.
Joint Venture
Learn the definition of a joint venture.
What is an Affiliate in the Business World?
The term affiliate has two general definitions in business contexts - in corporate law and taxes, and in online retailing.
What You Need to Know About Per Diem Rates
Defines per diem rates for business travel, how per diem rates are determined, how the General Services Administration sets per diem rates.
Selecting Your Board of Directors
Your board members will help you make decisions and also satisfy the requirements of the state in which you are incorporating.
Tax Planning Steps at Year End - Tax Deductions...
Paying Bonuses and giving gifts to employees may reduce your business taxes.
Form 940 - Employer's Annual Federal Unemployme...
Form 940 - Employer's Annual Federal Unemployment (FUTA) Tax Return
What is a Safe Harbor 401(k) Plan
Safe Harbor 401(k) Plans. US Business Law / Taxes.
How to Prepare Your Schedule C Correctly
Describes IRS Schedule C Profit or Loss from Business of IRS Form 1040
Understanding Taxes and Liability as a...
A tax attorney's discussion of tax and liability issues for a disregarded entity.
Section 179 deductions for increased depreciati...
Section 179 deductions for purchase of new and used equipment have been extended at a maximum of $500,000 through December 31, 2014.
Cash Flow
Cash Flow. US Business Law / Taxes.
LLC or Corporation: What's the Right Choice?
Should you choose an LLC or corporation for your business? A discussion of features of limited liability company (LLC) and corporation - differences and similarities.
What Employers Should Know About the W-3 Form
Describes the W-3 form. US Business Law / Taxes.
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.
Taking the Mystery out of Depreciation...
Shows methods for calculating depreciation
Running a Corporation? You'll Need This.
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.
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.
Partnership Agreement
Partnership Agreement. US Business Law / Taxes.
Why Not All LLCs Pay Taxes the Same Way
Describes how a single-member limited liability company or multiple-member limited liability pays income tax.
Can I Deduct Commuting Expenses?
Defines commuting expenses and describes what car/truck expenses a business owner can deduct for commuting and which cannot be deducted.
Why Do I Need a Personal Guarantee for a...
Attorney Susan Dawson answers the question:
What Makes an LLC Different?
Limited Liability Company LLC. US Business Law / Taxes.
No, Not All Property Is 'Real'
Real Property. US Business Law / Taxes.
What is the Difference Between Depreciation and...
This article explains the difference between depreciation and amortization.
Tax Evasion
Tax Evasion. US Business Law / Taxes.
What Does the Term 'Employee' Mean, Anyway?
Describes an employee. US Business Law / Taxes.
Important Tax Info for LLCs
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.
Sole Proprietor? Or Independent Contractor?...
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 Do I Search for a Business Name and Reserve...
Before you incorporate a business or form an LLC in a state, you must check on the availability of the name by doing a business name search. If you don't want to file incorporation or LLC documents immediately, you can then reserve a business name with the state.
What is an Independent Contractor?
Independent Contractor. US Business Law / Taxes.
Incorporator
Description of the job of an incorporator in setting up a corporation.
Are Meals and Entertainment Really a Business...
Meals and Entertainment Expenses
4 Things to Know About the W-4 Tax Form
Form W-4 -- Employee's Withholding Allowance Certificate
Employer ID Number - Explained
Describes an Employer ID Number. US Business Law / Taxes.
How Sole Proprietors Pay Themselves
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.
Need Info on Taxes in Your State? Start Here.
Find information on taxes in your state by using this listing of state departments of revenue
How to Take a Debtor to Small Claims Court
If you have a customer who owes you money, you may have considered taking this person to small claims court. Here are the details of the small claims process.
Net Pay
Net Pay. US Business Law / Taxes.
Understanding the Member Role in an LLC
Member of a Limited Liability Company
What's the Right Way to Report Employee Income?
Explains the difference between using a W-2 to report income to employees and a 1099-MISC to report income to independent contractors.
Exempt - Exempt Employee
Exempt employees. US Business Law / Taxes.
Want to Start a Business? Do These 8 Things.
First steps to starting any business: Begin with a business name, then a location, then go on to registering, financial, legal and marketing tasks.
How to Deposit Payroll Taxes Electronically
As a business owner, you have several ways to pay your employment taxes. Here are your options.
What is the Difference Between Full Time and...
Discussion of the difference between a full time or part time employee.
3 Tools for Calculating Paycheck Deductions
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.
Board of Directors of a Corporation
Board of Directors of a corporation
Understanding Tax Differences Between an LLC...
Both the s corporation and the limited liability company have benefits and drawbacks, depending on your business and the state(s) it is in.
Fair Labor Standards Act (FLSA) Federal Wage...
The Fair Labor Standards Act (FLSA) is the federal law that regulates employment matters such as overtime and minimum wage rates.
The Employer's Guide to Dealing with Payroll Tax
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?
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.
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.
What Does it Mean to Be Self-Employed?
Self employed, Self-employment. US Business Law / Taxes.
Business Owner or Employee? You Need to Know...
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.
Viability (of a Business)
Viability of a business. US Business Law / Taxes.
How Do I Notify Federal, State, Local Agencies...
How to notify federal, state, local agencies about your business address change.
You Won in Small Claims Court - Now, How to Get...
Options for collecting money owed you from the small claims process. Be persistent and be realistic.
Conflict of Interest
Definition of conflict of interest
Statutory Employee
Statutory employee. US Business Law / Taxes.
Becoming an Independent Contractor - The Why...
What you need to start a business as an independent contractor, including choosing a business type and business checking account, getting an EIN.
What Defines a Salaried Employee?
A Salaried Employee is paid annually.
What Every Entreprenuer Should Know About Bonus...
Bonus Depreciation. US Business Law / Taxes.
What are the Duties of Corporate Officers -...
Describes the duties of specific officers of a corporate board of directors, including the chairman of the board, corporate secretary, corporate treasurer, corporation president and vice president. Also includes a discussion of separation between board duties and administrative duties of individuals in a small business.
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.
Consider This When Choosing a Business Type
How each business legal type pays income tax, including forms and processes.
Employee Bonuses
Employee bonuses. US Business Law / Taxes.
What Does a Notary Public Do?
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How Often Should I Pay Employees?
How often you pay employees depends on state regulations, cost, type of employees. Descriptions of different pay frequencies discussed.
How to Understand All the Parts of a W-2 Form
Definition and description of a W-2 form.
When Your Business Needs a New Employer ID Number
When a new Employer ID Number (EIN) is required. Most business changes require a new Employer ID Number, including buying a business and changing business type.
Equity Interest (in a Business)
Definition of equity interest as it relates to ownership of a business entity, by Jean Murray, your About.com Guide to US Business Law and Taxes.
Family Medical Leave Act (FMLA) - What is it...
Here is a description of the main provisions of the Family Medical Leave Act (FMLA) and how it affects your business.
Domestic Limited Liability Company (LLC) or...
Domestic Limited Liability Company Domestic Corporation
What Products and Services are Subject to Sales...
How to determine what products or services are subject to sales tax in your state.
How to Keep Employees from Working for the...
Non-solicitation agreement. US Business Law / Taxes.
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