Home Blogs Category: Tax for Business

Category: Tax for Business

PriorTax keeps you current on the most recent tax for business news from the IRS. There’s no need to decipher confusing IRS lingo because we’ve got you covered when it comes to business taxes. Always check back here for information on new business deductions and credits that you should be claiming for your LLC or Partnership. From claiming deductions to filing your return, we handle your taxes while you handle your business.

If you have questions about your business tax, then leave a comment on our blog posts. Our tax experts will provide you with the answers that you need!

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FILE PRIOR YEAR TAXES

FILE PRIOR YEAR TAXES

How to File Prior Year Taxes
Don’t stress about how to file prior year taxes. It is a step-by-step process that you can follow to file your prior year tax returns with confidence. Getting on top of filing prior year taxes may be easier than you think.

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What is Form 1099-NEC?

What is Form 1099-NEC?

For the 2020 tax year, there’s a new income statement. The IRS has introduced a new form called Form 1099-NEC. Whether you’re well versed in reporting your taxes or not, this may be confusing. Typically, your self employment income is reported on box 7 of your 1099-MISC statement. For the 2020 tax year it is […]

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Understanding Joe Biden’s Tax Plan

Understanding Joe Biden’s Tax Plan

Many Americans want to know how our future president’s tax plan will affect them. Biden’s tax plan will affect wealthier Americans, corporations, and everyday individual taxpayers. He also plans on making significant tax revisions on Trump’s previous tax plan which took place in 2017. Skip the tax jargon by taking a look at this quick […]

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Tax Deadlines for the 2019 Tax Season!

Tax Deadlines for the 2019 Tax Season!

Important upcoming deadlines you need to know. Tax season is a stressful time for some taxpayers. However, knowing each tax deadline will give you a heads up so you know how to stay on top of your game. For all the 2019 tax deadlines that are left, take a look at the list of due […]

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Cyber Monday is HERE, with some sales tax…

Cyber Monday is HERE, with some sales tax…

We’ll surf through crowds to get our hands on the newest flatscreen tv. Like most Americans, we rush to get deals on Black Friday, or even better Cyber Monday. However, taxpayers rely heavily on Cyber Monday to buy the items they have on their wishlist because if an online retailer doesn’t have a physical presence […]

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Quick Guide: Filing Your Late Business Tax Return

Quick Guide: Filing Your Late Business Tax Return

“Mistakes can often be as good a teacher as success.” As a business owner, you might have already heard this one. Jack Welch, the founder of General Electric, made this statement and although he wasn’t talking about taxes, it applies. The filing deadline for LLCs is always April 15th. The filing deadline for S-Corps and […]

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5 Things You’ll Need to Report On a Self-Employee or Business Tax Return

5 Things You’ll Need to Report On a Self-Employee or Business Tax Return

Before Report Self-Employment or Business Income, Know what You’ll Need If you need to report self-employment income or business income on a tax return, it’s best to organize the papers you’ll need before getting started. Filing a Schedule C may seem like a daunting task. However, you can avoid complications by keeping your records organized […]

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