It’s that time of year again.
When I get the dreaded phone call….
“The IRS says I owe a quarter million. Can you help me make it go away?”
Continue reading Can we settle?
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Can we settle?
Tag Archives: employment taxes
Keep On Trucking- 3
Sorry, that I had to skip a day to complete this discussion on trucking businesses- and the future.
We’ve talked about why you have to consider autonomous trucking- where you aren’t needed as the driver as part of your considerations. And, you have to develop a business plan (not the 30 to 100 page tomes you see for larger firms), but about 5 pages that lets you have a road map- and signposts to ensure you are on your way to a profitable venture. (As discussed below, you also need this business plan to obtain your own carrier registration, to operate your own trucking entity.)
Continue reading Keep On Trucking- 3
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Are you reasonable?
As long as you do not operate as a partnership (partners only get a draw, fully subject to all taxes, including payroll taxes), the owners of an enterprise are expected to be paid a salary. That’s the IRS position- the one that counts.
Continue reading Are you reasonable?
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