Article Abstract:
Eighteen actions that help business owners save taxes and meet IRS deadlines are recommended. These suggestions discuss what to do with Forms 1099 and W-2. They also discuss retirement contributions, business deductions, amended tax returns, estimated taxes, and payroll taxes. Guidelines are also given for gift, trust and estate taxes; filing requirements for children; filing of separate tax returns; and proof of mailing.
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Article Abstract:
Procedures for reducing business and personal tax liability are outlined. Items listed are relevant for 1983 income taxes. Personal tax deductions and tax credits are listed. Other considerations include the IRS interest rate and the rules for accrued expenses payment.
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Article Abstract:
Trusts have a place in every business owner's financial planning. Trusts should be set up carefully with an expert. Some cautions to be aware of when setting up a trust are detailed.
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