Business Taxes

Independent Contractor or Employee: The Distinction Matters to the IRS

If you’re a business owner, you have financial incentive to want to classify workers as independent contractors rather than as employees.  For example, you’re required to withhold and pay taxes on employee wages, and you may need to offer employee benefits such as paid time off and pension contributions.  None of these are required with [...]

Five year-end tax savers for businesses

The year is nearly over, but you can still take action to lower your business income tax during the final months of 2015. Here are five moves to consider.   Postpone revenue to 2016. If your business reports on the cash basis, delay billing your customers long enough to ensure that payments will arrive after [...]

2018-07-22T16:02:17-05:00Business Taxes, News, Small Business|

Microenterprise Tax Credit

The Microenterprise Tax Credit Administration allows small Nebraska businesses of five (5) or fewer full-time equivalent (FTE) employees, to apply for a refundable credit up to $10,000 just for investing up to $50,000 into their business.  The investment can vary from something as simple as hiring a new employee, raises for an existing employee, new [...]

March 15th Tax Deadline

If your business ended it’s fiscal year on December 31st then a March 15th tax deadline may be bearing down on you.  Any corporation that has not filed a Subchapter S election must pay their taxes by the 15th of the third month after the end of their fiscal year.  Most other businesses still abide [...]

2018-07-22T16:13:42-05:00Business Taxes, Individual Taxes, News|

Farm taxes are due March 1st. Are you prepared?

Farm taxes are due on March 1st.  That means if you haven’t gotten your documentation together and delivered it to your accountant, it’s time to get moving.  That part about an accountant is important.  It’s important because farm taxes are complicated.  You have all of the tax issues associated with a business combined with a [...]

2018-07-22T15:25:47-05:00Business Taxes, News, Small Business|