Tax guide for small business 2016

Find Out More About Your Taxes! Get Every Dollar You Deserve. Maximum Refund Guaranteed. Car and Truck Expenses. Legal and Professional Fees. Travel, Meals, and Entertainment.

Business Use of Your Home. Other Expenses You Can Deduct. This publication does not cover the topics listed in the following table.

Because small businesses file their business tax returns with their personal returns, the due date is the same as the personal income tax return due date: April 15. If the due date falls on a holiday or weeken the next business day is the due date for that year. See all full list on irs. You can deduct on Schedule C or C-EZ the cost of preparing that part of your tax return relating to your business as a sole proprietor or statutory employee.

Medicare part of SE tax , Medicare tax , or Medicare part of railroad retirement tax.

Tax preparation fees. You need to get sleep or rest to meet the demands of your work while away from home. Generally, your tax home is your regular place of business , regardless of where you maintain your family home.

There is no additional fee for annual business license renewal. While it is possible to do your taxes on your own, consider working. With a few exceptions, all businesses that sell goods or services must pay the state business tax.

This includes businesses with a physical location in the state as well as out-of-state businesses performing certain activities in the state. Industry-Specific Deductions. Featuring a complete listing of all available business expense deductions, including dollar limits and record-keeping requirements, this book helps you quickly determine what kind of tax relief is available to you, and how to take it—all the way down to where to claim deductions on the forms themselves.

The guide also applies to statutory employees such as independent contractors. The IRS publication provides small business owners with information on federal tax law as it applies to their businesses. Offer valid for tax preparation fees for new clients only. Sincerely, Carl Knoblock District Director.

February th , postmark is acceptable. Use Schedule to assign all or part of your specified partnership business limit to another corporation. Instant Downloa Mail Paper Copy or Hard Copy Delivery, Start and Order Now!

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It’s tax season once again! Select a category (column heading) in the drop down. Click on column heading to sort the list. You may be able to enter information on forms before saving or printing. If you’re in the bracket, every dollar you deduct cuts your tax by cents.

But tax credits are more valuable for taxpayers in lower brackets. When it’s time to file a federal income tax return for your small business , there are various ways you can do it, depending on whether you run the business as a sole proprietorship or use a legal entity such as an LLC or corporation. Each type of entity requires a different tax form on which you report your business income and expenses.

Most small businesses use a vehicle, such as a car, light truck or van. Deduct the cost of operating the vehicle for business only if you require records to prove business usage. File a premium federal tax return for free.

Federal filing is always free. You receive excellent value for every dollar spent. Oregon corporations that claim no net income or have net losses must still pay minimum taxes based on total sales. We make switching easy.

Each package includes the guide , the return, and related schedules, and the provincial information and forms.