5 Myths About Your Small Business Tax Return

Myths about your small business tax return can leave you feeling stressed out about youraccounting programand tax responsibilities. Sure, filing taxes can be scary, especially if you’re第一次申请小型企业的税收. But don’t be too quick to panic over tax return horror stories. You might find out that your concerns stem from an IRS urban legend, and learning如何为小型企业缴纳联邦所得税isn’t the beast you thought it would be.

We are here to squash the tax return rumors, so you can stop worrying about your return and get back to running your business. Here are five small business tax return myths to stop stressing over:

Myth 1: Home office deductions are red flags for an IRS audit

The idea that the home office tax deduction triggers an IRS audit has been around for quite a while. Some home-based business owners shy away from thisdeductionbecause before computers were a large part of managing a company, fewer people worked from home. The deduction stood out to the IRS.

Now, in the digital age, home offices are more popular. The commonality of businesses run from a home has reduced IRS suspicions about the home office deduction.

Usually, you won’t be audited for claiming a home deduction office. Red flags begin to raise when you claim a huge amount of space, or your entire home, as your office. In recent years, the IRS created asimple optionto claim the home office deduction.

Myth 2: You can deduct all startup costs immediately

Startup costs incur while you are creating your business. Common expenses might include rent, equipment, and licenses, but there can behidden costs of running a business也是。普遍的误解是,您可以立即开始开展业务时扣除所产生的每笔费用。不幸的是,事实并非如此。

The IRS limits the startup costs you can claim on your tax return. You can deduct up to $5,000 of startup costs and organizational costs. If the total cost is more than $50,000,your deduction is reduced. Any remaining costs must be摊销.

Myth 3: A tax extension means you can push back tax payments

The IRS permitstax extensionson the day you file taxes, not the day you pay them. You are subject to penalties and interest if you don’t pay your taxes on time.

如果您需要额外的时间来提交税款,请利用扩展名,这样您就不会错过退款的任何信用。个人(例如,唯一的所有人)提出了扩展的文件Form 4868and corporations file with表格7004.

误解4:只有大型企业才能获得医疗保健税收抵免

Large businesses must offer health coverage under the Affordable Care Act (ACA). Sometimes, large businesses opt for employer-sponsored health care, which is tax exempt.

Employer-sponsored health care is often not an option for small business owners because of the cost. The ACA also does not require you to offer health coverage if you have fewer than 50 employees.

但是,如果您确实向员工提供医疗保健,则可能有资格获得小企业保健税收抵免. You must offer coverage through the SHOP Marketplace and:

  • have fewer than 25 full-time equivalent employees
  • pay average salaries under $50,000 per year
  • 至少支付员工保费费用的50%

The credit is worth up to 50% of your payments on employee premiums (and up to 35% if you are tax exempt).

Myth 5: A big tax refund is always a sigh of relief

当您在邮件中收到巨大的退款支票时,所有这些钱可能会为您的辛勤工作带来奖励。

But, an unusually large tax refund could be a sign that you are not估计您的税款正确。当您超额税时,这就像全年向政府贷款。您本可以将这笔钱投入到您的业务中。您的accounting for income tax refundmoney may need refined.

您的小企业纳税申报表

Like the figures of most urban legends, you probably will not experience these tax return myths first-hand.

For your tax return, the real concern is simply to get your taxes filed correctly. Focus on organizing your financial statements, accurately filling out tax forms, and making on-time payments.

Talk to a tax professional to help you with your small business taxes. You can help your accountant maximize your tax refund by keeping accurate, detailed financial records.

您是否需要一种简单的方法来保留收入和费用才能提交税收?使用我们的小企业vwin158 记录您的所有交易。立即获得免费试用!

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