Recent Articles

Business License

A document issued by your local Commissioner of the Revenue allowing you to operate within the boundaries of that community. It triggers the revenue and personal property taxes associated with your small business operation.

Bookkeeping – Franchise Fee and Revenue Taxes (Lesson 57)


Lesson  56 through 59 cover various business and income taxes along with the appropriate bookkeeping functions.   This lesson focuses on the accounting procedure for franchise fees and the formula used for revenue taxes    What is interesting [...]

Hobbies – Business Perspective and Tax Compliance


Many people turn their hobbies into a business function.  Not so much to make a living or make big profits, but more to help offset the costs of the hobby.  Whenever you go to one of those community fairs, the vendors at the respective booths are [...]

What is an Audit?


An audit is defined as a methodical examination.  Audits are grouped into two principal sets – financial and organizational compliance (usually related to licensure).  For the small business entrepreneur, it is almost unheard of for them to have [...]

The 1099 Subcontractor


The Internal Revenue Service promulgates rules and regulations concerning the employment status of workers.  In general, workers are classed as W-2 employees and certain tests must be met to have the worker classed as a 1099 subcontractor.  All [...]

Local Revenue Tax – The Business License


A business license is the tool used by local governments to monitor all businesses in their community.  It triggers at least two types of tax.  At a minimum a revenue and personal property tax is charged through this registration process. [...]