Mike's weekly post usually concentrated on tax saving strategies.
[block type="rounded" color="#FFF" background="#000000"]Going into business with a franchise[/block]
Have you ever wanted to be your own boss, but didn't want to start a business from scratch? If so, buying a franchise might be the right choice for you.
When you purchase a successful franchise,
The IRS has reacted to the complaints of the small business community and today issued Revenue Procedure 2015-20 outlining a simplified procedure for small businesses to comply with the final tangible property regulations. The simplified procedure is available beginning with the 2014 return taxpayers are filling out this tax season.
Elect S corporation status by March 16
If you own a small business, you have until March 16, 2015, to choose S corporation status for this year. In order to become an S corporation, you'll need the unanimous approval of all shareholders.
Unless you have spent the last twelve months in a bubble,
Warning: Watch out for aggressive phone scams again this tax season
The Treasury Inspector General for Taxpayer Administration (TIGTA) is warning taxpayers about one particular category of tax scams that has proven to be very widespread, very aggressive, and very relentless.
