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IRS to Return Seized $150,000 to Convenience Store Owner

Posted Sun, 2016-02-21 22:52 by Dave Tanaka

Under a law meant to target money launderers and drug dealers, the IRS cleaned out the bank account of a Greenville, North Carolina small business owner. No criminal charges were pressed against him.

NRA Says IRS Proposal Would Force Exorbitant Costs on Restaurants

Posted Mon, 2015-06-15 20:23 by Sam Blake

(Washington D.C.) The National Restaurant Association released the following statement last week Thursday regarding the House’s introduction of the Commonsense Reporting and Verification Act of 2015, which affects Obamacare (Affordable Care Act) reporting requirements:

Basic Tax Preparation for Small Business Owners

Posted Sun, 2013-03-17 03:06 by BMM Staff

Russell Fox offers some tax preparation tips to small business owners. He owns Clayton Financial & Tax in Las Vegas and is the author of a newly published book, Tax Strategies for the Small Business Owner.

New IRS Crackdown on Small Businesses

Posted Mon, 2013-03-04 15:49 by BMM Staff

The IRS and the Department of Labor are running a new small business crackdown on owners who misclassify employees as independent contractors, says Fox Business News.

Easier Home-Office Deduction Tax Form

Posted Wed, 2013-02-06 08:14 by BMM

The IRS has announced that starting in 2014 when it is time to file 2013 business tax returns, business owners will have an easier short form to calculate home-office deductions.

Tip Reporting Major Issue for Restaurant Owners

Posted Sat, 2012-05-19 03:35 by Marilee Hayes

"The single most important issue facing restaurant owners today, and the absolute bane of their existence, is the handling of tips," says Rick Casmass, VP of sales for a restaurant payroll service.

Restaurateurs, 50 Percent Bonus Depreciation Available in 2008 and 2009

Posted Tue, 2012-01-31 12:48 by Bruce Schaeffer

According to CCH, the Internal Revenue Service Chief Counsel has concluded that qualified restaurant property and qualified retail improvement property are eligible for fifty percent bonus depreciation in both 2008 and 2009.

Govt Invites Comments on Health Care

Posted Sun, 2011-05-15 16:28 by Dave Tanaka

Small business owners have until June 17 to comment on the shared responsibility provision of the health care law passed last year.

Top Tax Tips

Posted Thu, 2011-02-24 11:51 by Ian McBean

Image of IRS Form 1120S for Corporate Sub-chapter S companies

The Obama administration and last year’s Congress have provided new tax savings for small businesses.

Business Anxiety Growing over Obamacare

Posted Sat, 2010-10-09 13:24 by Marilee Hayes

The provisions mandated by the new U.S. health care law are causing deepening worry among business owners and executives as their implementation draws closer.