As a small business owner, you know you are required to withhold payroll taxes from your employees' pay checks, hold onto the taxes and pay them to the government. But what happens when you have an unexpected business expense, and no money to cover it? You might consider "borrowing" the money from … [Read more...] about What happens if you use payroll taxes for other business expenses?
It’s tax season: Is your small business compliant?
There is a fine line between a small business cheating themselves on their taxes and the IRS. One is a misjudgment in claiming legal deductions while the other is a compliance issue that could result in an audit. Even small businesses must maintain a level of compliance regarding their taxes and, … [Read more...] about It’s tax season: Is your small business compliant?
Use the power of the crowd, but don’t forget the tax implications
Have you ever watched the television show Shark Tank and thought, "That could be me"? You are not alone. The show is a testament to the entrepreneurial spirit being alive and well in the United States. Investors on the show, including Dallas' own Mark Cuban, have helped many individuals find … [Read more...] about Use the power of the crowd, but don’t forget the tax implications