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    Service-Industry: Paying Taxes on Your Tips

    Service-Industry: Paying Taxes on Your Tips
    Pssst. Want to hear about an occupation in which thousands of people earn up to $50,000 or more annually but pay very low taxes? Here's the deal: You too can become a restaurant waiter, join in the widespread practice of underreporting your tips, and, if you work your way up to a fine-dining gig, achieve an enviably high net income. But ...
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    Service-Industry: IRS Restaurant Tax Tips

    Service-Industry: IRS Restaurant Tax Tips
    Tips your employees receive from customers are generally subject to withholding. Employees are required to claim all tip income received. This includes tips you paid over to the employee for charge customers and tips the employee received directly from customers. Employee Requirements Employees must report tip income on Form 4070, Employee's Report of Tips to Employer, (PDF) or on a similar ...
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    Federal Tax Forms List and Downloads

    Download the most common tax forms needed by businesses and individuals. Most Common Tax Forms for EntrepreneursForm 940 Employer's Annual Federal Unemployment Tax ReturnForm 1040 Individual Income Tax ReturnForm 1040, Schedule C Profit or Loss From BusinessForm 1040, Schedule C-EZ Net Profit From BusinessForm 1040, Schedule D Capital Gains and LossesForm 1040, Schedule SE Self-Employment TaxForm 1120 U.S. Corporation Income Tax ...
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    State Tax Forms

    Visit your state's tax site to find out what forms you need to fill out for your business. Remember, not all states have income taxes.AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisiana MaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming
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    Glossary of Tax Terms

    Get in the know with our alphabetical list of tax terms for your business. Accelerated depreciation. A depreciation method that allows larger deductions in the early years of an asset's "life" and smaller deductions at the end of the period. (See "Straight-line depreciation.")Accrual method (or accrual basis). One of two main accounting methods for determining when a transaction has tax significance. ...
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    Holiday Gift Guide for Your Accountant

    [page] During the holiday season, buying gifts for accountants could be trickier than shopping for someone in any other occupation. Why? Because accountants, by nature, know what everything costs. Still, that doesn’t mean there aren’t plenty of options, and that’s where we come in. We’ve combed the giftosphere for the best (affordable) selections for the number cruncher in your life. ...
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    Your E-Options for Tax Returns Are Plentiful, Helpful, and Mostly Easy

    Your E-Options for Tax Returns Are Plentiful,  Helpful, and Mostly Easy
    Jan. 20--Less than three months remain until April 15, and last Friday, the Internal Revenue Service declared its electronic filing system "open for business," allowing taxpayers the chance to get their refunds quicker. If you're receiving W-2 forms and other statements in your mailbox, you might be itching to begin. It's been a few years since I've examined the options ...
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