How do you know if your business is profitable? One indicator is your profit margin. This measure of profitability considers your gross, operating or net profit as a percentage of revenues. But how do you calculate these ratios? Read on to learn how to calculate profit margin.
Unfortunately, businesses don’t always earn a profit. This is especially true as you’re just starting your business or if economic conditions are bad. Let’s walk through what to do if your business loses money, as well as how you may get tax relief from it.
If you own your own business, your tax obligations likely do not end with the IRS. There are other tax agencies looking to put the bite on you as well. Small business owners can cut their taxes by taking various tax deductions. Be sure you don’t pay more taxes than you need to by being aware of the overlooked tax considerations for small business.
What is “Place of Supply” and how does that apply to sales taxes?
Sales taxes can be confusing. In particular supplying goods or services across a country, province or state border.
In last month’s blog entitled “Become and Remain Credit Worthy”, I wrote about the importance of getting and maintaining a good credit score.
With kids getting ready to go back to school, and some maybe heading off to college, this is a time of year when some people tend to overspend and do damage to their credit. Going back to school is second only to the holidays when this kind of overspending happens in families.
TaxConnections is excited to announce we will be releasing Taxexpedia, an updated version of Ask Tax Questions, to the world of Tax CEOs, CFOs, and VPs during the 4th quarter of 2016. We will be helping management of organizations, large and small, connect with tax experts who can assist them with a wide range of tax problems.
This is Part #2 of a 12-part series answering, “Why Some Tax Professionals Make More Money Than Others.”
Every tax professional should invest the time and effort in marketing themselves, but that does not mean they have to spend an exuberant amount of money doing so. For over 30 years, I have observed tax professionals succeed financially beyond most people’s dreams and encountered tax professionals with the same amount of education and expertise who have not. Let me explain what I am talking about!
Everywhere you turn the price has gone up on just about everything! However, marketing yourself and your tax expertise is so much easier and affordable today. In fact, you can market yourself on a budget of less than three hundred dollars a year when you learn from what I will teach you.
During February 2016 the beleaguered South African Minister of Finance, Minister Pravin Gordhan, made a serious attempt to balance government’s books.
Gordhan was called back after Minister Nene was removed from his position, by President Zuma early December 2015. The true reason for this politically motivated musical chairs, appointing three ministers in less than 4 days, remains a mystery. Point is Nene was removed and Gordhan had to step in and rescue the cash flow and ensure the country did not face junk status.
Looking for ways to avoid the last-minute rush for doing your taxes? The IRS offers these tips.
1.Don’t Procrastinate.Resist the temptation to put off your taxes until the last minute. Your haste to meet the filing deadline may cause you to overlook potential sources of tax savings and will likely increase your risk of making an error.
2.Organize Your Tax Records.Tax preparation time can be Read More
For any month during the year that you or any of your family members don’t have minimum essential coverage and don’t qualify for a coverage exemption, you are required to make an individual shared responsibility payment when you file your tax return.
Here are six things to know about this payment:
1.You are not required to make a payment if you had coverage or Read More
One of the ways individuals and businesses can pay their federal taxes if they don’t want to do so or cannot do so via automatic bank withdrawal, credit card or check is to go to their local 7-Eleven-11 store and pay by cash.Per the IRS instructions, the fee is $3.99 and there are some actions that need to be taken online before going to 7-Eleven. That action includes entering your Social Security number. You then get a number to take to 7-Eleven to complete the transaction. The cash limit is $1,000.
Retained Tax Executive Search Services: When You Need An Expert On A Tax Executive Search For Your Organization
Certificates Of Discharge From IRS Liens
IRS Independent Office Of Appeals Forms Alternative Dispute Resolution Program Management Office
IRS Shifting More Attention Onto High Income Earners, Partnerships And Large Corporations Following Passage Of Inflation Reduction Act Funding
Exempt Non-resident Citizens From FBAR
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