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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.
What Kind of Partnership Do You Want?
Partnership Types: Limited Partnership, Limited Liability Partnership, General Partnership and Limited Liability Company
What Every American Should Know About Social...
Describes the Social Security tax for employees and employers, including the annual maximum social security tax.
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.
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.
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.
How is Gross Pay Calculated?
Gross Pay. US Business Law / Taxes.
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.
How is Tax Nexus Determined?
Describes the term. US Business Law / Taxes.
What Is Litigation?
Litigation definition. US Business Law / Taxes.
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.
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 business type is best for my company?
Discusses different types of business entities and which is best for different kinds of businesses
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.
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.
Fiduciary - Fiduciary Responsibility
A fiduciary responsibility and the person who is a fiduciary
What is the Principal of Your Loan?
Principal on a loan. US Business Law / Taxes.
What Makes a Contract or Agreement Valid?
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.
Taking the Mystery out of Depreciation...
Shows methods for calculating depreciation
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
Should Your Employees Be Salaried or Hourly?
Salary vs. Hourly pay for employees. How to calculate salary and hourly rates. Overtime exemption.
4 Things Explained by Cost of Goods Sold
Cost of Goods Sold. US Business Law / Taxes.
Every Deadline for Filing Your Business Taxes
Here is a list of the federal income tax return due dates for sole proprietorships, LLCs, partnerships, corporations and s corporations.
This Is the Wrong Way to Pay Your Employees
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.
The Simple Way to Calculate FICA Tax Deductions
How to calculate the deduction for FICA taxes from employee paychecks.
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.
Travel for Business? Don't Forget This Deduction.
Here is a brief overview of how to calculate mileage expense for business.
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.
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.
When Does the Fiscal Year End?
How to determine the date for your company's fiscal year end.
3 Ways to Identify Yourself to the IRS
Difference between a tax ID number, EIN, and ITIN
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 Difference Between Depreciation and...
This article explains the difference between depreciation and amortization.
Form I-9 for employment verification -...
I-9 Form - I-9 Immigration Form. US Business Law / Taxes.
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.
What Is a business budget?
Creating a budget for your business works the same way as a personal budget.
What is the Capital Gains Tax Rate?
Capital Gains Tax Rate. US Business Law / Taxes.
Employer's Guide to Payroll Tax Deposits
Discusses when to make payroll tax deposits.
The Difference Between Capital and Operating...
Capital expenses US Business Law / Taxes.
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.
3 Definitions of Business Capital
Capital definition. US Business Law / Taxes.
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.
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.
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.
How (and Why) to Use a Purchase Order
Defines a purchase order and describes the parts of this order.
10 Payment Types That Are Exempt from FICA Tax
Discusses which types of payments to employees are exempt from FICA (Social Security/Medicare) tax.
2 Reasons to Call Your Company a Disregarded...
Describes what business types are considered disregarded entities.
4 Types of Pay Periods Defined
Pay Period. US Business Law / Taxes.
What Business Owners Should Know About...
Discussion of how charitable contributions are deducted by businesses.
Are Meals and Entertainment Really a Business...
Meals and Entertainment Expenses
What's the difference between tax avoidance and...
The difference between tax evasion and tax avoidance
How to Calculate Withholding Amounts for...
How to calculate federal income tax (FIT) withholding from employee paychecks.
Want to Start a Business? Do These 8 Things.
Start a Business by Following These Steps.
Understanding Taxes and Liability as a...
A tax attorney's discussion of tax and liability issues for a disregarded entity.
Is It Smart to Loan Your Business Money?
Describes the two ways you can give money to your business - loans or investments
Thinking About Employee Bonuses? Read This First.
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?
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.
Want to Deduct Your Business Mileage? You'll...
IRS Standard Mileage Rates. 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.
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.
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.
Why Do I Need a Personal Guarantee for a...
Attorney Susan Dawson answers the question:
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.
Commuting Expenses - What's Deductible - What's...
Defines commuting expenses and describes what car/truck expenses a business owner can deduct for commuting and which cannot be deducted.
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 Do I Notify Federal, State, Local Agencies...
How to notify federal, state, local agencies about your business address change.
How do I Keep Personal and Business Funds...
How to keep business and personal funds separate
What Products and Services are Subject to Sales...
How to determine what products or services are subject to sales tax in your state.
Who Must Be Paid Overtime and When - Federal...
Overtime/Overtime Pay. 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.
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 Capital Contribution?
Definition of a capital contribution
The Special Tax Only Some Businesses Pay
Excise Tax. US Business Law / Taxes.
How to Have Your LLC Taxed as a Corporation
How to file an entity election for an LLC on Form 8832.
Garage Sales, Yard Sales - Tax Issues, Licenses...
Garage sales must pay taxes too: sales taxes, income taxes. Garage sales and yard sales must also comply with local regulations for business licenses and permits.
Want to Get Paid? You'll Need One of These.
Describes an invoice. US Business Law / Taxes.
Want a Business Loan? First, Check the 4 C's of...
Describes the four C's of credit - character - capacity - collateral - capital
2 Ways Owners Equity Can Be Expressed
Definition of owners equity. US Business Law / Taxes.
Cash Flow
Cash Flow. US Business Law / Taxes.
Due Diligence
Due diligence is a process of evaluating details before making a business decision. Due diligence often involves a checklist and report of findings.
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.
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
Can I Hire My Children to Work in My Small...
Paying your children as employees in your small business.
How to Create a Sources and Uses of Funds...
Describes how to prepare a simple sources and uses of funds statement
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.
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.
Joint Venture
Learn the definition of a joint venture.
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.
What Does a Notary Public Do?
: A notary public (pl., notaries public) is a public official who is given the authority to acknowledge
How to Deposit Payroll Taxes Electronically
As a business owner, you have several ways to pay your employment taxes. Here are your options.
4 Things to Know About the W-4 Tax Form
Form W-4 -- Employee's Withholding Allowance Certificate
4 Responsibilities of a Corporate Board of...
Describes the duties of a Board of Directors for a Corporation including board fiduciary responsibility
The Employer's Guide to FICA Taxes
FICA taxes explained. US Business Law / Taxes.
Why Arbitration is More Desirable Than Litigation
Describes the arbitration process vs. the litigation process
Not Everyone Who Works for You Is an Employee
The IRS sets requirements for categorizing workers as independent contractors or as employees. Here is a brief discussion of the distinctions.
What It Means to Hire Someone on a Retainer
Retainer defined, including legal retainers as an option for paying an attorney, and retainers for other professionals.
The Business Owner's Guide to Sales Tax
Paying Sales Tax to State. US Business Law / Taxes.
What Does it Mean to Be Self-Employed?
Self employed, Self-employment. US Business Law / Taxes.
How Do I Remove a Board Member?
Some ways to remove a board member or director.
Should Your Company Own a Car?
Who should own a car for business use - the company or the employee?
Business Car Leasing vs. Buying - Which is Best?
Car Leasing vs. Buying. US Business Law / Taxes.
Non-Compete, Non-Disclosure, and Non-Solicitati...
Explains the differences between a non-compete agreement, a non-disclosure agreement, and a non-solicitation agreement.
Consider This When Choosing a Business Type
How each business legal type pays income tax, including forms and processes.
What is the Difference Between Full Time and...
Discussion of the difference between a full time or part time employee.
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.
6 Steps to Becoming an Independent Contractor
Here is information you need in order to start a business as an independent contractor
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.
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.
How to Keep Employees from Working for the...
Non-solicitation agreement. US Business Law / Taxes.
All about DUNS Numbers
DUNS Number. US Business Law / Taxes.
The Business Owner's Guide to Payroll
Payroll definition. US Business Law / Taxes.
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.
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.
Capital Improvements - Capital Expenditures
Capital improvements, Capital Expenditures
Understanding the Member Role in an LLC
Member of a Limited Liability Company
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.
Incorporator
Description of the job of an incorporator in setting up a corporation.
The Difference Between Real and Personal Property
Personal Property. US Business Law / Taxes.
How to Understand Your Role in a New Business
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 Employers Should Know About the W-3 Form
Describes the W-3 form. US Business Law / Taxes.
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.
Do I Have to Charge Sales Tax for Online...
Do online retailers have to charge sales tax for online transactions? Information on state laws and possible federal legislation.
7 Important Facts About Single-Member LLCs
Describes the single-member llc
Business Basics: Understanding 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.
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.
Per Diem - Per Diem Rates
Per Diem Definition and Per Diem Rates
No, Not All Property Is 'Real'
Real Property. US Business Law / Taxes.
An Entrepreneur's Guide to Partnership Income...
How a partnership pays income tax.
Form 941 - Information on IRS Form 941
941 Questions and Answers: Payroll Taxes, Payroll Tax Deposits
Why Should I Create an Independent Contracting...
Working for yourself means you are self-employed, as a contractor or independent contractor. Here is why you should set up a business entity.
Filing Corporate Taxes? Here's How to Use Form...
This article provides a general outline of the information required on Form 1120 - U.S. Corporation Income Tax Return, including schedules.
This Helps You Prioritize Company Bills
Accounts Receivable Aging. US Business Law / Taxes.
What Does the Term 'Employee' Mean, Anyway?
Describes an employee. US Business Law / Taxes.
How Do I Register a Business Name?
Registering your business name gives you the right to use that name exclusively and it will be used for all legal and tax purposes.
How To Register a Foreign Limited Liability...
How to register a foreign limited liability company in another state
What Makes an LLC Different?
Limited Liability Company LLC. US Business Law / Taxes.
Depreciation - Answers to Commonly Asked...
Depreciation can reduce business taxes. Depreciation carries the expense of an asset over its useful life. More about how depreciation can save on taxes.
Starting a Sole Proprietorship - the Advantages...
Discusses the advantages and disadvantages of sole proprietorships, including control, liability, taxes, and start-up.
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.
Small Business Basics: How S Corps and LLCs Pay...
A CPA discusses taxes for S Corporations vs. LLCs.
Viability (of a Business)
Viability of a business. 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.
Setting up a Payroll System for Your Business
Create an earnings report for each employee and report gross earnings, withholding and deduction amounts, and net pay for each payroll and for year-to-date. Page 6.
Secretary of State - Secretary of Commonwealth
Secretary of State websites. US Business Law / Taxes.
Self-Employed? Make Sure You Know How to 'Draw'
Owner's Draw. US Business Law / Taxes.
Do I Need a Separate Business Checking Account?
Should you have a separate business checking account?
Domestic Limited Liability Company (LLC) or...
Domestic Limited Liability Company Domestic Corporation
Closely Held Corporation
Learn the definition of closely held corporation, a phrase often used in the business law/tax world. Not to be mistaken with privately held corporation.
What to Do Before Hiring a 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.
Creative Ways to Reduce Your Business Tax Bill
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.
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