Money Management Articles
Why not try wearable technology on for size?
Is wearable technology going to be around for a while? It's certainly gaining more traction and popularity each day.
Tax considerations (and advantages) for small businesses
Are you thinking of launching your own business? Approximately 800,000
new businesses open each year, according to Bureau of Labor Statistics
data. When these young companies get started, it's critical for their
owners to understand the many rules and regulations that apply to them.
Small business owners beware: Not reporting income paid to vendors can be costly
If you are a small-business owner, know that you, too, must send 1099s
to nonemployees paid in the course of doing business. The Minnesota
Society of CPAs (MNCPA) warns that many small-business owners do not
understand the requirements for issuing 1099s, and they can receive
hefty fines and costly IRS audits if not complied with properly.
Business or hobby? Why the difference matters
Were you aware that there are tax implications when you earn money from a
hobby? If not, or if you're unsure of all the rules, the Minnesota
Society of CPAs (MNCPA) offers these insights on why the distinctions
between hobbies and businesses matter and what you need to know if your
hobby becomes a business.
Answers to tax questions for the self-employed
Will 2015 be the year when you take the leap into self-employment? Even
if you're going to start out small with an office in a spare bedroom,
there are some important tax issues you should keep in mind before you
take the plunge.
Don't guess when it comes to worker classifications
Classifying workers as employees or independent contractors may seem intuitive, but the reality can be much murkier. The MNCPA is shedding light on this subject
to ensure business owners comply with IRS regulations.
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