When Should I Start Paying Quarterly Taxes for my Small Business?

If you caught Ben on Periscope this morning, he provided a quick overview on the basics of quarterly taxes for your small business. As a small business owner, you’re no stranger to Uncle Sam wanting his cut of everything you’ve make. While you may not need to worry about quarterly taxes during the first few … Continued

How to Save Money on Your Taxes if You Were Uninsured in 2015

If you were uninsured in 2015, you may owe a penalty on your taxes this year. However, you can still save money by claiming an exemption, which about 70% of Americans are doing in 2016. A whopping 300,000 people who paid the penalty last year would have qualified for the exemption, according to the IRS. … Continued

Which Tax Forms Do I File as a Small Business Owner?

Depending on your business type, you need to file tax forms that report your business’ income for the year. The IRS requires different paperwork for the different business structures–Sole Proprietors, LLCs, and S Corps. While there are different forms for the varying business structures, taxable income for small businesses is generally calculated in the same … Continued

10 Reasons to File Your Taxes Early This Year

In case you needed a little extra motivation to get your taxes done before the rapidly approaching April 18th deadline, here are a few reasons to get you moving. Here is Mazuma’s top ten list of reasons to file your taxes early this year: You can actually file your taxes now and not pay your … Continued

Do I Still Have To Pay Personal Income Taxes As A Small Business Owner?

Unfortunately, owning a small business does not exempt you from paying personal income taxes. Many business owners pay themselves a set salary from their business profits, which is considered taxable income. Other business owners (normally smaller businesses) just invest what is necessary to keep the business running and then keep the remainder of the profits … Continued

Top 4 Quick & Easy Ways to Pay Your Tax Bill

Tax season doesn’t equate to a refund for everybody. If you owe a tax bill this year, the IRS offers methods of quick and easy payment. No matter how you deliver your payment–online, on your smartphone, or delivery by horseback, make sure your tax bill is paid by April 18th. DirectPay. The quickest and easiest … Continued

How Do I File Last Year’s Taxes Online?

It’s never too late to file overdue tax returns. Of course, filing all of your taxes by the April 15th (April 18 for 2016) deadline is always the best way to keep yourself out of hot water with the IRS. But, if you still haven’t filed a previous year’s tax returns, you still can and … Continued

How to Pay the IRS if You Owe Money on Your Federal Taxes

If you’re not receiving a refund on your federal taxes this year and just found out that you’ll actually owe money to the IRS, you’ll need to get that payment in as soon as possible. This is a common scenario for small business owners, self-employed taxpayers, and those who have held too little money withheld … Continued