Bizcovering

The Great Recession has made it abundantly clear how important are entrepreneurs. We need their creativity to start businesses and create jobs. We do not do enough to cultivate this special breed of vital change agents on which our economic future depends.

Taxes have caused a lot of cigarette smokers to quit.

Who is Johnny no name and why should you even care about him?Johnny no name is the guy you see everyday on almost every road in America. He’s the guy in a pick up truck driving around taking jobs from legitimate businesses. He might be a handy man, landscaper, painter or some other type of self employed hazard. He has no sign on his truck and a bunch of equipment in the back. This guy is like a little rat in the economy and he affects us all.

Some things to think about before buying a home or co-op.

AIG, the credit giant, has recently paid out about $700 million in bonuses after receiving well over $50 BILLION from the US Governement, and moreso from the US taxpayer. Please read on and hear more about this outrageous story.

A look at the outrage expressed over the AIG bonus scandal.

This article covers the areas of concern that IRS auditors have when examining a company’s tax records. It lists some of the things businesses do when they attempt to avoid paying income taxes.

Many people believe that the road to paying less in taxes is to be self-employed. Many self-help books encourage developing a side business that can be manipulated to appear to lose money. This is accomplished by taking every allowable deduction for a home office, auto expenses, and percents of utilities and other purchases that serve dual duty for business and personal use. The problem is that the IRS is not a fan of seeing small businesses reporting losses that are only paper losses.

The IRS is cracking down on earned income tax credit (EITC) fraud. It is a very serious problem. Many tax payers file phony returns claiming the credit on children that did not exist or did not qualify. The new Tax Preparer rules hold each tax preparer liable for errors and mistakes.

A brief, entertaining look at the (anonymous) opinions of some members of Facebook groups and their suggestions for rescuing companies in dire financial straits.