Self Improvement Site
On The Internet! Take the Self Improvement Tour
On The Internet! Take the Self Improvement Tour
Articles from Wayne Davies | Selfgrowth.com
- Schedule C Forms That Must Be Filed - by Submitted on Feb 18, 2011 from Wayne DaviesAll Sole Proprietors must prepare Schedule C as part of their federal personal income tax return. But it's likely that you can't stop there. As the old saying goes - "That's not all!" There's a pretty good chance that by filing a Schedule C, you must also file several other forms that are ...
Views: 959 - Payroll Taxes - How to Reduce the Likelihood of a Tax Penalty by 31 Times - by Submitted on Feb 11, 2011 from Wayne DaviesHere's the latest version of the age-old story, "The Tale of Two Small Business Owners." It goes like this: Small Business Owner #1 is 31 times less likely to be penalized by the IRS than Small Business Owner #2. Hmmm. What gives? What is the difference between these two chaps? It's simple, ...
Views: 821 - Last Minute Tax Tips - How to File an Extension For Your Personal Tax Return - by Submitted on Feb 11, 2011 from Wayne DaviesDo you need more time to prepare your personal tax return? Look no further than Form 4868. And if you need help completing Form 4868, look no further than this article. Here are five tips for completing the extension form without a glitch. Tip 1: Relax. This form is one of the easiest tax ...
Views: 809 - How To Reduce The Chance Of An Audit By Over 50 Percent - by Submitted on Feb 11, 2011 from Wayne DaviesPerhaps you've been thinking about making a change in your Choice of Entity. Maybe you've been asking, "What type of Business Entity should my business be?" By "Business Entity", I mean the legal structure of your business, and there are basically five from which to choose: Sole ...
Views: 794 - How to Prepare the Easy Part of Schedule C - by Submitted on Feb 11, 2011 from Wayne DaviesAre you a Sole Proprietor who faces the daunting task of filling out Schedule C every year? If you break out into a sweat just thinking about, you came to the right place. To get the most out of this article, get a copy of Schedule C and have it in front of you as you read on. You can open up ...
Views: 944 - How to Prepare Schedule C, Part V - by Submitted on Feb 11, 2011 from Wayne DaviesFor Sole Proprietors, Schedule C can be either your best friend or your biggest nightmare. There are parts of this two-page form that you will learn to love or grow to hate. There are five parts to Schedule C, and the purpose of this article is to help you with Part V, Other Expenses - hopefully ...
Views: 2990 - How to Prepare Schedule C, Part IV - by Submitted on Feb 11, 2011 from Wayne DaviesIf you are a Sole Proprietor who is deducting Car and truck expenses on Schedule C, Line 9, you may be required to complete Part IV of Schedule C, "Information on Your Vehicle." The purpose of this article is to explain how to complete this section of Schedule C. Schedule C, Part IV begins on ...
Views: 7789 - How to Prepare Schedule C, Part III, Cost of Goods Sold - by Submitted on Feb 11, 2011 from Wayne DaviesIf you are a Sole Proprietor, you must file Schedule C, Profit or Loss From Business (Sole Proprietorship). And if you are a Sole Proprietor whose business involves sale of a product, you must complete Part III of Schedule C, Cost of Goods Sold. The purpose of this article is to help you with ...
Views: 14823 - How to Prepare Schedule C, Part II - by Submitted on Feb 11, 2011 from Wayne DaviesDo you need help reporting expenses on your Schedule C? Are you wondering whether you've accurately captured all deductible business expenses for your Sole Proprietorship? Then this article is for you. Preparing Schedule C is an integral part of any Sole Proprietor's personal income tax ...
Views: 1273 - How to Prepare Schedule C - Part I - by Submitted on Feb 04, 2011 from Wayne DaviesAre you a Sole Proprietor and prepare your own tax return every year? Do you ever need some help with Schedule C? Get out a copy of Schedule C and let's take a look at Part I, Income. The purpose of Part I is to report your income, aka "sales" or "revenue". In other words, how much money did you ...
Views: 1070 - How to Prepare Form 8829 - by Submitted on Feb 04, 2011 from Wayne DaviesIf you are a Sole Proprietor with a home office, you must file Form 8829, Expenses for Business Use of Your Home. The purpose of this article is to help you prepare this form without getting a headache. This article makes three assumptions about your business: 1. Your Sole Proprietorship is ...
Views: 2547 - How to Prepare Form 4562 For a Sole Proprietorship - by Submitted on Feb 04, 2011 from Wayne DaviesIf you are a Sole Proprietor who purchased business equipment, and you'd like to deduct that purchase on your income tax return without breaking into a sweat, this article is for you. I'm going to show you how to properly fill out Form 4562 without getting bogged down in those complex ...
Views: 2567 - How to Prepare Form 4562 - The Big Picture - by Submitted on Feb 04, 2011 from Wayne DaviesIf your small business is a Sole Proprietorship and you are involved with the preparation of your income tax return, you will eventually run into Form 4562, one of the most complicated tax forms on the planet, if not the universe. But do not despair, for help is on the way. The purpose of this ...
Views: 2273 - How to Find the Right Tax Preparation Service for You - by Submitted on Feb 04, 2011 from Wayne DaviesWhat should you look for in a tax preparation service? Since there are so many tax preparers to choose from, it only makes sense that you know what you need before making a decision. Here are three essential qualities that any reliable tax preparation business will have: 1. Many years of ...
Views: 755 - Business Tax Deductions - How to Deduct a Bad Debt - by Submitted on Feb 01, 2011 from Wayne DaviesThe purpose of this article is to answer the question: "What do I do if a customer or client doesn't pay me? Do I get to deduct the lost sale amount?" Of course, this is a common problem in any business. Oh that we never encountered a bad debt or an uncollectible account ...
Views: 1076 - 5 Questions You Must Ask Before Hiring A Good Tax Preparer - by Submitted on Feb 01, 2011 from Wayne DaviesBefore you hire someone to prepare your tax returns, you want to conduct an interview and ask several important questions. The answers to these questions will determine whether this tax preparation service is qualified to provide what you need. 1. How long have you been doing tax returns? If ...
Views: 933