Business
Hobby vs. Business: Do you Depend on Income from this Activity
We are continuing on through the Hobby vs. Business series and have come to the second of the factors used to determine whether your activity should be considered a business or a hobby and we remember that this determination could make a huge impact on your tax returns and what you will owe the government [...]
Hobby vs. Business: Time and Effort to Make a Profit
In the series we started earlier this week Hobby vs. Business we briefly mentioned several factors that the IRS will use to determine if the activity you are engaged in is actually a business where you can deduct expenses that you incur in trying to make the business work or if it is actually just [...]
Business Owners Personally Liable for Business Taxes?
Recently, our firm gave a talk at the local Rotary Club here in Greenville, SC. After the session, one of the members who is a financial adviser to small businesses asked about a certain part of our presentation. Specifically, he wanted to know if business owners could really become personally liable for the taxes owed [...]
Top 5 Reasons Your Business Should Keep Good Records
I have to have this conversation with many of my corporate clients who have run into trouble with the IRS. There are many many reasons why it is important, essential, and should be required for you to keep good business records.
Keeping good records does not mean throwing all of your receipts into a box for [...]
Most Popular Posts of April 2008
April was a pretty big month at AtkinsSC.com. I had the most visitors in the history of the blog. Awesome! Anyway, here were the most visited posts for April 2008:
Should I Send My Payments to the IRS by Certified Mail?
Top 5 Negotiation Tips
I Owe More than I thought – Can I still [...]
2007 Year in Review
It seems like the year just flew by. As I look back over the past twelve months, I am encouraged by some of the things that happened, and I am very glad that I don’t have to do some of them over. 2007 was a year of "firsts" for me and kept me very [...]