IRS

The self-employed contribute a mighty portion to the U.S. economy – nearly $1 trillion. There is no question that they are helping create jobs by growing and hiring new workers. The question is, by hiring additional workers, are micro-businesses (those with 10 or fewer employees) actually creating more paperwork for themselves?

The National Association for the Self-Employed (NASE) announced its support today of a bill that would help decrease a potential paperwork nightmare for the self-employed and micro-businesses (10 or fewer employees).

NASE National Tax Advisor Keith Hall talks about tips for getting a jump on your 2011 tax return, such as taking the mileage deduction.

Kristie Arslan, Executive Director of the NASE, released the following statement after a meeting with the White House on a Government shutdown’s effect on America’s small business community...

The IRS expects one in six of total 2010 tax returns will be filed by self-employed Schedule C filers. A small percentage of those self-employed businesses will be subject to an audit each year.

Found deep within the new health reform law is a little known provision that will increase tax regulation on all of America's businesses beginning in 2012. Who will be hardest hit? You got it...small business.

Preparing taxes that will sail through the audit process is as easy as following the Three Cs of Tax Preparation.

Prior to preparing 2009 tax forms, the self-employed and micro-businesses (fewer than 10 employees) should be aware of a few tax law changes, including adjustments to the standard mileage rate and the self-employment tax.

In June 2009, IRS Commissioner Doug Shulman called for a comprehensive review of the paid tax return preparer industry, drawing on all relevant data and input from interested parties. Based on this review, the IRS has announced a number of steps that it plans to implement for future filing seasons. These steps will not be in effect for the current 2010 filing season.

Another year, another tax season, more unjust taxes on the small business community. Despite stepping out of the unemployment line and into a new, job creating small business on Main Street, small business owners could be hit with another unfair tax this year when they file their returns.

In the next few months, thousands of small business will file their tax returns across Delaware. But this year, on top of the myriad complex tax liabilities and unequal deductions forced onto small business owners, they now face another unfair tax by the Internal Revenue Service (IRS): a penalty for offering health care support to their employees.