Small Business Tax Tips, Things To Keep In Mind
Continuing with our series on tax tips for the small business owner or the self employed, Tax Advisor with the National Association for The Self-Employed, Keith Hall says there are two things to keep in mind when it comes to changes to the tax code.
One involves self-employed health insurances deductions. Those are not deductible in 2011, so watch out there. And then for next year, employers have to keep track of the payroll tax cut.
“If you have employees its gonna change the way you do your calculations beginning in March. If you don’t have employees, it’s still going to effect how you do your own personal estimated tax calculations.”
Those are two key changes that you need to pay attention to.