Owning and operating a business is a task that requires a person’s undivided attention. A business owner has to be concerned about various issues from keeping their inventory well-stocked to ensuring that payments from clients are timely paid. Even with all of these obligations, it is still extremely important that a self-employed person files their self-employment taxes. If you require…
If you have unfiled tax returns, it is wise to file them as soon as possible. Filing a late tax return can not only result in losing out on a refund, but the Internal Revenue Service (IRS) may choose to pursue you for money owed on unpaid taxes. Under serious circumstances, the IRS may consider referring your case to the…
LLCs (Limited Liability Companies) are flexible and relatively easy to form, which makes them a popular option for people that are starting their own businesses. However, LLCs must file tax returns just like any other business. LLCs that fail to file their taxes in California can expect to face penalties that can affect their ability to do business in the…
Self-employed workers experience a wide range of freedom. However, with that freedom comes various tax obligations that a self-employed individual must handle. For example, self-employed workers are responsible for calculating the amount of their quarterly Social Security and Medicare taxes. Additionally, there are new tax regulations for 2019 that will alter self-employed workers operate. If you need assistance handling your…
You may think everything in your finances is under control. However, this may not always be the case, especially when you are behind on your taxes and have the Internal Revenue Service (IRS) breathing down your neck. The bottom line is nobody wants to deal with the IRS. There are many elements in your finances you can manage and control.…
If you are an Airbnb host in California, you should be fully aware of any tax requirements that have been placed on the corporation’s operations. For example, if you are hosting a property in a certain part of California, you must know the transient occupancy tax rate that you are required to charge visitors. Failure to follow these regulations could…
Forty-five states in the U.S. currently charge a sales tax, including California. However, there are still some facets of California’s sales tax program that could be explained for retailers. If you are having trouble filing your sales tax returns in California, you should consult with an experienced tax lawyer for businesses. The Roseville sales tax lawyers at are here to…
Rental property owners have a lot of flexibility when it comes to leasing their property. However, they must also remember to stay on top of their taxes. For example, failing to report rental income on your tax return can result in a hefty tax bill later on. While managing taxes as a new landlord can be frustrating, you should not…
If you operate a restaurant or similar business where it is customary for employees to collect tips, it is important to note whether you have to pay taxes on those tips. Employers that do not accurately report income from tips may open themselves to several tax penalties. If you require assistance managing employee tips for your business, you should contact…
Remaining compliant with California’s self-employment tax can be a burdensome process. You must understand what qualifies as a self-employed individual, and you also have to know the appropriate amount of taxes that you must pay. While employees at a California-based business will have their taxes automatically deducted from their earnings, a self-employed individual must remain diligent when calculating taxes to…