Taxlete Today

The People's Tax Blog: Important tax news and information carefully curated to serve the needs of the average person.

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Find out if you are eligible to claim a deduction for unreimbursed business expenses

Jordan D. Howlette, J.D., M.B.A.

Nov 17, 2020
3 min

Find out if you are eligible to claim a deduction for unreimbursed business expenses

Prior to the 2018 Tax Cuts and Jobs Act (TCJA), employees were allowed to deduct their qualified unreimbursed business expenses ("UBE")...

Businesses should be aware of the Employee Retention Tax Credit

Jordan D. Howlette, J.D., M.B.A.

Sep 11, 2020
4 min

Businesses should be aware of the Employee Retention Tax Credit

The Employee Retention Credit allows employers to receive up to 50% of the qualified wages paid to employees during the COVID-19 pandemic.

Some taxpayers may be required to make estimated tax payments periodically to the IRS

Jordan D. Howlette, J.D., M.B.A.

Sep 9, 2020
3 min

Some taxpayers may be required to make estimated tax payments periodically to the IRS

Know whether you are required to make estimated tax payments throughout the year to the IRS; failing to do so could result in penalties.

A must read for all small business owners: an exception to capitalizing business property

Jordan D. Howlette, J.D., M.B.A.

Aug 21, 2020
3 min

A must read for all small business owners: an exception to capitalizing business property

Every small business owner should know about the de minimus safe harbor election.

The Home Office Deduction: Small business owners may qualify for this great tax-saving benefit

Jordan D. Howlette, J.D., M.B.A.

Aug 14, 2020
2 min

The Home Office Deduction: Small business owners may qualify for this great tax-saving benefit

The home office deduction can help small business owners save money on their taxes.

Small Business 101: Treating inventories as non-incidental materials & supplies

Jordan D. Howlette, J.D., M.B.A.

Jul 30, 2020
3 min

Small Business 101: Treating inventories as non-incidental materials & supplies

Small business owners should be aware of this time-saving exception to keeping and tracking inventories.

How to report non-employee compensation and backup withholding

Jordan D. Howlette, J.D., M.B.A.

Jul 8, 2020
2 min

How to report non-employee compensation and backup withholding

There is a new IRS Form for taxpayers to report non-employee compensation paid or received in the course of their trade or business.

Individuals who work in the "gig economy" should remember these tax tips

Lars Kroner

Jun 25, 2020
2 min

Individuals who work in the "gig economy" should remember these tax tips

Gig economy workers should ensure they are paying the right amount of taxes throughout the year to avoid an unexpected tax debt.

Employers can receive tax credits for granting paid leave to employees affected by COVID-19

Lars Kroner

May 29, 2020
2 min

Employers can receive tax credits for granting paid leave to employees affected by COVID-19

Employers can receive tax credits for granting paid sick leave or paid family leave to employees affected by COVID-19.

The Employee Retention Credit encourages businesses to keep employees on the payroll

Lars Kroner

May 27, 2020
2 min

The Employee Retention Credit encourages businesses to keep employees on the payroll

The Employee Retention Credit encourages businesses to keep employees on their payroll. Click to learn more.

Paycheck Protection Program Info & FAQs: A Must Read for Every Small Business Owner

MyTaxRights

May 11, 2020
8 min

Paycheck Protection Program Info & FAQs: A Must Read for Every Small Business Owner

Find answers to frequently asked questions about the Paycheck Protection Program. A must read for every small business owner.

COVID-19 Paid Leave Tax Credits for small and midsize businesses

MyTaxRights

May 6, 2020
1 min

COVID-19 Paid Leave Tax Credits for small and midsize businesses

Small and midsize employers can claim two new refundable payroll tax credits.