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Ask the Expert - Added Expenses on Extended Tax Return

Question: I extended my tax return that is now due on October 15th. I just discovered that I left off some expenses from the previous year that I should have included. Can I include those amounts on this tax return or on next year’s tax return, or have I lost the benefit of those expenses?

Published on September 13, 2019

Washington Watch - May 9, 2018

Published on May 09, 2018

New Tax Law

Question: So...Exactly WHAT am I supposed to be doing with regard to the new tax law? Answer: First of all Happy New Year and welcome to 2018. It is gonna be a good year!!! Regardless of all other factors from this point forward, we will indeed have a new tax code for 2018. I am totally sure you have heard more than you would normally choose to hear about taxes and will undoubtedly continue to hear more. Just in case, here is a summary of the biggest changes…

Published on January 30, 2018

NASE Members Highlighted in CNBC Article

NASE Member Council members Charlie Arnold and Ben Seidel were highlighted in a CNBC article discussing the impact of the fiscal cliff on the self-employed.

Published on December 10, 2012

Washington Watch - July 18, 2012

Published on July 18, 2012

Bipartisan Legislation Would Make Health Insurance Deduction Permanent

The National Association for the Self-Employed (NASE) is enthusiastic in its support of H.R. 6102, America’s Small Business Tax Relief Act of 2012, introduced by Representative Jim Gerlach (R-Pa.) and cosponsored by Rep. Ron Kind (D-Wis.), which provides for a permanent deduction for several key small-business tax deductions, including the health insurance deduction for the self-employed, NASE’s signature legislative priority.

Published on July 13, 2012

Washington Watch - July 11, 2012

Published on July 11, 2012

How Do I Get An Employee Identification Number (EIN)?

Published on July 09, 2012

Washington Watch - June 20, 2012

Published on June 20, 2012

Schedule C - What You Need To Know

Published on June 20, 2012

Washington Watch - May 23, 2012

Published on May 23, 2012

NASE Sends Letter Of Support For Senate Tax Extenders Bill

The NASE has joined other small-business organizations to support S. 2050, The Small Business Tax Extenders Act of 2012.

Published on May 21, 2012

Why It's So Hard To Write Off Your Home Office (Bloomberg Businessweek)

For the past decade, advocates for the home-based workforce have sought to give taxpayers the option to check a box for a standard $1,500 home office write-off. That would save them the tricky business of calculating what percentage of the home is dedicated to business—and therefore what share of rent, insurance, utilities, and maintenance costs can be deducted.

Published on April 16, 2012

‘Buffett rule’ Is Producing Capitol Gains (Washington Times)

“We’re much more interested in tax laws that impact the 22 million self-employed Americans who aren’t household names but who create a whole lot more jobs than Mr. Buffett,” said Kristie Arslan, president of the National Association for the Self-Employed.

Published on April 15, 2012

Mr. President, Focus On The 'Baffle Rule,' Not The 'Buffett Rule' (Huffington Post)

Tax fairness is a top priority for the National Association for the Self-Employed, but we're much more interested in tax laws that impact the 22 million self-employed Americans who aren't household names but who create a whole lot more jobs than Mr. Buffett.

Published on April 11, 2012

Last Minute Small Business Tax Tips From NASE National Tax Advisor, CPA

Small-business owners who have put off doing their 2011 tax return so far this year have less than a week until Tax Day. The National Association for the Self-Employed (NASE) has one piece of advice – don’t panic.

Published on April 02, 2012

Washington Watch - March 28, 2012

Published on March 28, 2012

Many Find It Hard To Plan Ahead As Tax Uncertainty Looms (USA TODAY)

[NASE Member] Tiffany Washington, owner of Washington Accounting Services in Waldorf, Md., says the standoff about extending the payroll tax cut caused her to put off hiring another employee.

Published on March 23, 2012

Washington Watch - March 14, 2012

Published on March 14, 2012

Tax Time: Deducting The Business Use Of Your Automobile

Business expenses come with the territory when you are an entrepreneur. Some expenses, however, can be easy to miss come tax time because they do not show up in your business checkbook.

Published on February 27, 2012

NASE Statement On President Obama's Corporate Tax Reform Plan

"Today’s joint proposal by the White House and the Department of Treasury announcing recommendations for business tax reform must be called what it truly is, corporate tax reform exclusive to major corporations and large employers." Read the rest of the NASE's statement here.

Published on February 22, 2012

Washington Watch - February 22, 2012

Published on February 22, 2012

Washington Watch - February 15, 2012

Published on February 15, 2012

Small Business Startup Bill Introduced In House

The House has introduced another piece of legislation for future self-employed individuals. The Help Entrepreneurs Create American Jobs Act of 2012 makes permanent the deduction for startups at $10,000. If left to expire, the deduction reduces to $5,000.

Published on February 15, 2012

Small Business Worker Classification: Independent Contractor Or Employee?

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?

Published on February 14, 2012

NASE Lauds Senate For Introducing Small Business Tax Extenders Act

The NASE’s recent call to Congress to heed the Self-Employed Agenda focusing on taxes was heard this week in the Senate. Senators Olympia Snowe (R-Maine) and Mary Landrieu (D-La.) introduced the Small Business Tax Extenders Act of 2012, which would continue some popular tax breaks for the self-employed and micro-businesses (10 or fewer employees) for an additional two years.

Published on February 03, 2012

NASE, Obama Administration Celebrate One-Year Anniversary Of Startup America Initiative

“Tax incentives for startups and for businesses that have recently purchased new equipment are certainly a start, but we are concerned that so few of the policies suggested actually apply to the largest segment of small businesses – the self-employed and micro-businesses. That key demographic makes up more than 78% of the nation’s small business population,” commented NASE President Kristie L. Arslan.

Published on January 31, 2012

Preparing Your 2011 Tax Return (WLW-AM)

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

Published on January 26, 2012

Washington Watch - January 25, 2012

Published on January 25, 2012

State Of The Union: A "Level Playing Field" Must Include The Self-Employed Agenda (Huffington Post)

As President Obama readies his State of the Union address, news outlets are reporting that economic growth and taxation will be the focus of much of his remarks. The Self-Employed Agenda for 2012 includes the following items...

Published on January 24, 2012

2011 Tax Changes For The Self-Employed

Prior to preparing 2011 tax forms, the self-employed and micro-businesses (fewer than 10 employees) should be aware of a number of tax law changes, but also must stay focused and connected for new changes that are inevitable during 2012.

Published on January 10, 2012

2011 Tax Changes For The Self-Employed

Prior to preparing 2011 tax forms, the self-employed and micro-businesses (fewer than 10 employees) should be aware of a number of tax law changes, but also must stay focused and connected for new changes that are inevitable during 2012.

Published on January 09, 2012

Small Tax Tweaks Could Help The Self-Employed

We can all agree that the tax code could be more fair for Americans who want to start their own small business. It’s one of the pillars of the national self-employment initiative that the NASE has been urging policymakers to adopt.

Published on December 02, 2011

Washington Watch - November 9, 2011

Published on November 09, 2011

Washington Watch - October 5, 2011

Published on October 05, 2011

Bad Tax Policy One Reason For Decline In Entrepreneurship (Crain's NY)

“One minute you have these benefits, the next you don't,” said Kristie Arslan, CEO of the National Association for the Self-Employed. “Creating long-term tax and economic policy instead of doing these short-term fixes is incredibly important.”

Published on September 09, 2011

Washington Watch - June 22, 2011

Published on June 22, 2011

Washington Watch - April 13, 2011

Published on April 13, 2011

Last Minute Small Business Tax Tips From NASE National Tax Advisor, CPA

Small-business owners who have put off doing their 2010 tax return so far this year have less than two weeks until Tax Day. The National Association for the Self-Employed (NASE) has one piece of advice – don’t panic.

Published on April 13, 2011

HRA 105 Plans

Published on March 29, 2011

Washington Watch - March 23, 2010

Published on March 23, 2011

Self-Employed: How To Survive An Audit

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.

Published on March 23, 2011

Small Changes Still Needed To Nation's Health Care Law

Kristie Arslan, Executive Director of the NASE, released the following statement on the one-year anniversary of the Affordable Care Act...

Published on March 22, 2011

Self-Employed Can Take 2010 Tax Deduction For Health Insurance Premiums (S. FL Sun-Sentinel)

The 2010 deduction will put about 15 percent of the premium back in the pocket of the self-employed, said Kristie Arslan, executive director of the National Association for Self-Employed.

Published on March 18, 2011

Briefing: Self-Employment Health Insurance Tax Deduction

**MEDIA ADVISORY** Please join Kristie Arslan, Executive Director of the National Association for the Self-Employed (NASE), for a conference call briefing on the temporary self-employed health insurance tax deduction available to individuals who pay self-employment taxes on their 2010 tax returns.

Published on March 08, 2011

Tax Day: Let's Make the Tax Code Fair (Huffington Post)

It is a sad, but true fact: health insurance is a luxury item for many small business owners, purchased when times are good and forsaken when times are lean.

Published on March 08, 2011

House Introduces Tax Savings Legislation For The Self Employed

A longtime priority of the National Association for the Self-Employed (NASE) has been introduced in the House. U.S. Reps. Wally Herger (R-Calif.) and Ron Kind (D-Wis.) have re-introduced legislation to address an unfair tax on health insurance premiums for the self-employed.

Published on March 03, 2011

Tax Time: Deducting The Business Use Of Your Automobile

Business expenses come with the territory when you are an entrepreneur. Some expenses, however, can be easy to miss come tax time because they do not show up in your business checkbook.

Published on March 02, 2011

Washington Watch - March 2, 2011

Published on March 02, 2011

How To Find A Qualified Tax Preparer (Wall Street Journal)

According to Keith Hall, national tax adviser for the National Association for the Self-Employed, a nonprofit business group in Washington, D.C., you should hire someone experienced in preparing tax returns for start-ups. Further, the more recent the experience he or she has doing this, the better.

Published on February 15, 2011

Why It's Worth Paying For A Tax Pro (Wall Street Journal)

This tax season, entrepreneurs operating on a tight budget may be tempted to forgo professional help in preparing their companies' returns. But experts say the investment is typically worthwhile -- at least for those just starting out -- to maximize deductions and avoid penalties.

Published on February 13, 2011

Washington Watch - January 19, 2011

Published on January 19, 2011

Washington Watch - January 12, 2011

Published on January 12, 2011

Small-Business Groups Parse Tax Deal (Wall Street Journal)

President Obama's newly proposed tax package is being praised, though with cautious optimism, by several of the nation's most prominent small-business advocacy groups.

Published on December 08, 2010

The Small Business Case for Extending Tax Cuts (Huffington Post)

Congress has important work to finish before the 111th Congress comes to a close. Much of its agenda includes priorities that are critical to the nation's smallest businesses.

Published on December 08, 2010

Washington Watch - December 8, 2010

Published on December 08, 2010

Statement On The Small Business Jobs Act - September 14, 2010

As the U.S. Senate advances the Small Business Jobs Act, Kristie Arslan, Executive Director of the Legislative Offices of the National Association for the Self-Employed (NASE), released the following statement...

Published on September 14, 2010

NASE on CNBC - Obama vs. Business

NASE’s Kristie Arslan points out that the Small Business Jobs Act is a great first step toward completing a long list of priorities for the self-employed. In particular, Kristie says, the tax provision that allows the self-employed to take a one-year deduction of their health costs is key.

Published on July 29, 2010

New Law Increases Paperwork for Self-Employed Over A Thousand Percent

According to a new law set to go into effect in 2012, business owners will be required to submit a Form 1099 for every payment made via check or credit card to vendors for services, inventory or property over $600 annually.

Published on May 26, 2010

Washington Watch - May 5, 2010

Published on May 05, 2010

New Tax Changes For Self-Employed (CNN.com)

As the April 15 income tax filing deadline approaches, the top tax expert at the National Association for the Self-Employed offers his best advice for business people who work for themselves.

Published on March 18, 2010

How To Prepare Your Micro-Business For Future Audits

Prepare taxes that will sail through the audit process is as easy as following the Three Cs of Tax Preparation. Find out more...

Published on February 18, 2010

How To Prepare Your Micro-Business For Future Audits

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

Published on February 17, 2010

Washington Watch - January 14, 2010

Published on January 14, 2010

Washington Watch - October 14, 2009

Published on October 14, 2009

Washington Watch - October 7, 2009

Published on October 07, 2009

Legislators Take On Home Office Deduction

New legislation could help self-employed business owners who work from a home office save an additional $1,500 on their taxes next year.

Published on September 25, 2009

Washington Watch - September 23, 2009

Published on September 23, 2009

It’s (Big) Business As Usual In Washington, D.C., Says NASE

The NASE recently spoke out on current health care reform legislation, which is notably missing two items that would have a substantial effect on the affordability of coverage for the self-employed - allowing the self-employed to deduct their health care costs as a business expense and expanding eligibility of Health Reimbursement Arrangements (HRAs).

Published on August 11, 2009

NASE Offers Calming Tax Tips (SmallBusinessNewz.com)

Tax returns are due in about one week's time, and across America, people are probably getting nervous as they deal with the countdown. The National Association for the Self-Employed wants small business owners to listen to a few tips and take a deep breath, though.

Published on April 07, 2009

Hidden Tax Tips for Entrepreneurs (BusinessWeek)

The home office and vehicle deductions are two of the most overlooked write-offs, according to the National Association for the Self-Employed.

Published on February 17, 2009

Tax Tips for Procrastinators (BusinessWeek)

April is right around the corner, which means it's tax time for individuals and unincorporated small businesses. If you're one of the many entrepreneurs who has put off thinking about taxes until the last minute, you're certainly not alone. Smart Answers columnist Karen E. Klein recently asked several tax experts to discuss common issues and offer advice for tax-return procrastinators.

Published on March 28, 2008

TAX Related Blog Posts

Which Retirement Plan Should I Choose? [NASE Experts]

Published on July 19, 2012

Last Minute Tax Tips

Published on April 13, 2012

Tax Tip: Surviving An IRS Audit

Published on March 19, 2012

The New 1099-K – Who Knows?

Published on March 12, 2012

Lawmakers Introduce Legislation that Supports Small Business Philanthropic Giving

Published on February 01, 2012

Reclassifying Independent Contract Workers As Employees?

Published on January 27, 2012

2011 Self Made Blog Roundup [Links]

Published on December 29, 2011

Taxpayer Advocate Calls For Simplification

Published on January 06, 2011

Planning Ahead

Published on September 13, 2010

Labor Day Links

Published on September 03, 2010

Hot Links (8/23 – 8/27)

Published on August 27, 2010

Heard Around the Water Cooler

Published on July 13, 2010

Tax Tips for Procrastinators

Published on April 14, 2010

Courtesy of NASE.org
https://www.nase.org/tags?id=tax