What Can I do if I Can’t Pay My Small Business’s IRS Debt?

If you owe income taxes from your self-employment or because of your small business – be it a sole proprietorship, partnership, S-corp or some other small-business organization that files taxes on your individual return – you might find that your tax liability exceeds your ability to repay, or at least your ability to repay immediately….

Properly Classifying Your Workers: Employees or Independent Contractors?

Small businesses frequently hire people to work for them. Whether these hires are classified as employees or independent contractors impacts whether an employer must withhold income taxes and pay unemployment, Social Security, and Medicare taxes. Improperly classifying employees as independent contractors is an area of concern for the IRS, so small business owners should carefully…