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Who Pays the Transient Occupancy Tax?
"Transient occupancy tax" is paid on temporary lodging at hotels, motels, inns, hostels and similar places. Although the name "transient occupancy tax" is specific to California, similar lodging taxes are in effect across the United States. You pay these taxes when you rent a room, bed or other space. It's the lodging operator's job to collect the tax and pay it to the government. Read more…

What Is Schedule J: Income Averaging for Farmers and Fishermen
Income averaging for farmers and fishermen provides a way to balance an income tax burden over several years, reducing the effects of both lean and bounty years. Schedule J is the Internal Revenue Service form used when you want to average your fishing or farming income. Read more…

Is Interest on Credit Cards Tax Deductible?
The IRS allows you to deduct certain expenses from your total income to arrive at taxable income, which is the portion of your earnings that is subject to tax. Some of these expenses include your payments of interest on a mortgage and for business loans. However, when you use a credit card for personal purchases, the interest you pay is nondeductible personal interest. Read more…

Closing a Business
If you're planning to close a business, don't forget to put the IRS on your to-do list, because tax rules require you to keep the tax agency in the loop. TurboTax can help with reporting the sale of assets, final employment tax reporting and more. Read more…

LLC Tax Filing Rules
If you operate your business using a limited liability company (LLC), then you have more flexibility in choosing how the IRS taxes your business earnings. Your choice will directly influence the tax filing rules you are subject to. There is no set of tax rules that specifically apply to LLCs; the IRS allows the LLC to use partnership, corporate or sole proprietor tax rules. Read more…


More Small Business Taxes Articles

What Online Business Owners Should Know about IRS Form 1099-K S-Corp Federal Tax Filing Dates The Home Office Deduction Do Chapter Sub S Corps File Personal Tax Returns? Estimated Taxes: Common Questions Managing Assets What is Schedule F: Profit or Loss from Farming What is Form 8881: Tax Credit for Small Employer Pension Plan Startup Costs Standard Mileage vs. Actual Expenses: Getting the Biggest Tax Deduction Video: What is Schedule C-EZ: Profit or Loss from a Business? Tax Tips for Sole Proprietors Estimated Taxes: How to Determine What to Pay and When Affordable Care Act (Obamacare) Survival Guide For ALEs When and How to Incorporate Does Your Company Need to File Form 1095-B? Maximizing Tax Deductions for the Business Use of Your Car How to Pay Employer Federal Taxes How an S-Corp Can Reduce Your Self-Employment Taxes Little-Known Tax Tips for Small-Business Owners Driving Down Taxes: Auto-Related Tax Deductions Can I Write Off Credit Card Interest on My Taxes? How the PATH Act Benefits Small Business Owners Mobile Phones, Internet and Other Easy Tax Deductions New Small Business Legislation Benefits Both Businesses and Individuals What is Form 4136: Credit for Federal Tax Paid on Fuels Starting a Business Can Cellphone Expenses Be Tax Deductible with a Business? Business Use of Vehicles What Is the IRS Form 4562? Taking Business Tax Deductions Reporting Self-Employment Business Income and Deductions How Do You Get a Business Tax ID Number? When the IRS Classifies Your Business as a Hobby Filing a Business Tax Extension Video: Can I Deduct the Cost of a New Computer on My Taxes? What is Form 8919: Uncollected Social Security and Medicare Tax on Wages Business Tax Preparation Tax Advantages to Incorporating What is Form 8903: Domestic Production Activities Deduction Summary of Business Tax Law Changes 2010-2017 What is IRS Form 8829: Expenses for Business Use of Your Home Depreciation of Business Assets Limited Liability Company Taxes Small Business Break: Get a Refund of Taxes Paid in Previous Years Can I Convert My LLC to an S-Corp When Filing My Tax Return? Video: IRS Rules for Reasonable Business Expenses What Is the IRS Form 941? Video: Tax Tips for Small Businesses Are 501C3 Stock Investment Profits Tax-Exempt? How to File Federal Income Taxes for Small Businesses What Is IRS Form 720? What is a Schedule K-1 Tax Form? Penalties for Not Filing a 1099-Misc IRS Form Video: Guide to Payroll Taxes What Is Form 8941: Credit for Small Employer Health Insurance Premiums Startup Business Tax Tips How Does IRS Form 1095-B Affect Small Businesses? A Guide to Paying Quarterly Taxes

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