Stack of tax forms for small businesses

Small Business Tax Return To-Do List

Consider these suggestions for helping to make the 2021 tax season smooth sailing this year for your small business: 1. Make your estimated tax payments Tuesday, Jan, 18 is the due date to make your fourth-quarter payment for the 2021 tax year. Now is also the time to create an initial estimate for first-quarter 2022

1099-MISC form for tax year 2021 with pencil and calculator

Make Order Out of Chaos This Tax Return Filing Season

Tax return filing season usually gets a little crazy, but this year will be more turbulent than most. Due to new tax legislation and guidance from the IRS, you will have to cope with a wide variety of tax changes, some of which relate to the pandemic. Here are several tips for making some order

Exterior shot of the United States Tax Court building.

Court Is In Session – Notable Tax Court Cases

Despite the COVID-19 pandemic, political unrest and severe weather events, the Tax Court has continued to churn out decisions affecting individual and business taxpayers. Here’s a brief sampling of several cases that may be of particular interest. Coming Up Aces (Coleman, TC Memo 146, 10/22/20) You can generally deduct gambling losses up to the amount

Woman examining her small business’s financial statements

Year-End Tax Planning Ideas for Your Business

As 2021 winds down, here are some ideas to consider in order to help manage your small business and prepare for filing your upcoming tax return. Identify all vendors who require a 1099-MISC and a 1099-NEC. Obtain tax identification numbers (TIN) for each of these vendors. Determine if you qualify for the Paycheck Protection Program