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Now that the dust has almost settled on the 2009 tax filing season, small business owners who are already hard-pressed by the economy have something else to worry about: a knock on the door from an Internal Revenue Service agent. IRS audits of small businesses increased by 41% from 2005 to 2007, while large business audits actually declined by Read More

In the weeks since President Obama proposed rolling back federal income tax rates on the nation's top two marginal tax rates as part of his federal budget, the term "small business owner" has turned into a political football. Proponents of the budget proposal claim that less than 3% of small business owners have net household income above $ Read More

In today's economic environment, every financial milestone is an important one. It's critical that small business owners have the right tools and know-how to properly manage their taxes year-round so they're not dealing with undue stress on the days leading up to April 15th. The right solutions can help small business owners efficiently and easily Read More

WITH the economy in terrible shape, owners of small businesses could use a break. The tax code offers many to choose from, including some recent additions, and others may be on the way. Businesses received a batch of concessions late last year, when several measures that expired in 2007 were extended to cover 2008. These include a 20% credit on Read More

A payroll tax credit and breaks for business are among the tax cuts Congress will pass as part of the big economic stimulus package coming soon. Read More

The federal government thinks many small-business owners under-report their income, and thus has been cracking down on them to help shore up its own budgetary problems. The message for you: The tax auditor might want to take a look at your books. So how can you avoid that? Though it's unlikely you can dodge an audit forever — the IRS tries Read More

With tax revenue dwindling along with the recession, states are considering taxing online purchases to cover the shortfall. But Web-based merchants are rallying against the move. Read More

Small business owners with fewer than 50 employees are now eligible for a tax break if they continue to pay employees called to active duty in the U.S. military. The tax credit was included in the recently passed H.R. 6081, the Heroes Earnings Assistance and Relief Tax Act of 2008. The legislation, which was passed by the House and Senate in M Read More

If you regularly sell items on online auction sites, you may find yourself on the Internal Revenue Service's radar. Recent legislation aims to help the IRS collect more taxes from online enterprises, many of which either don't know about their tax obligations or are ignoring them, according to the agency. The provision, part of the housing re Read More