Self Made: NASE's Blog

Monday, April 15, 2013
Posted by Keith Hall (NASE Tax Expert) - Well, it's here. April 15th and the tax return is due today. My guess is that a bunch of us have not completed all of the detail that we had hoped to and now we're not sure what to do. First, don't panic! If you need more time to complete your tax return, the IRS will automatically grant you an additional six months to file the return by simply asking them. If you need more time, simply complete IRS Form 4868, Application for Automatic Extension of Time to File US Individual Income ...
Friday, April 12, 2013
If you’re waiting till the final hour (or weekend) to prepare your tax return, make sure you have read through the Internal Revenue Service’s Top Six Tax Tips for the Self-Employed.  For a highlight of the article, read on below, and for more details and links to important Self-Employed forms that you will likely need, be sure to click on the link above and visit the IRS website. 1. Self-employment income can include pay that you receive for part-time work you do out of your home. This could include income you earn in addition to your regular job. 2. Self-employed ...
Monday, April 08, 2013
Posted by Keith Hall (NASE Tax Expert) - What if I told you that the IRS would subsidize your retirement savings plan? My guess is that you wouldn't believe me, but it's true. If you haven't filed your tax return yet, make sure you consider your options for contributing to a qualified retirement plan such as a traditional IRA or a Simplified Employee Pension (SEP) Plan. The contributions that you make before you file your return are deductible even though it is already three-and-a-half months after the end of the year. This is the one true tax planning tool left for all ...
Monday, April 01, 2013
Posted by Keith Hall (NASE Tax Expert) - We knew it would happen. April is here and many of us still haven't finished our tax return. There are still a couple of weeks to go, so don't feel too rushed, but it's time to get busy. As you plow through all of the paper and numbers and receipts, let me plant one thing in the back of your mind to keep you focused. The number one reason that this return might spark that dreaded letter from the IRS asking for more detail, or worse, for more money, is math errors.  ...
Monday, March 25, 2013
Posted by Keith Hall (NASE Tax Expert) - Telling you not to be tempted by the fudge is probably a silly way to start a blog post about taxes. Silly for the most part because, of course, you will be tempted by the fudge, because it's fudge. (Duh!) But I'm not talking about the chocolate kind, I'm talking about that temptation to take a shortcut in completing your federal income tax return.  Whether you are getting your paperwork together for the accountant or getting ready to sit down with TurboTax, you are probably feeling the temptation to just guess. To ...
Wednesday, March 20, 2013
In honor of Women’s History Month, the NASE would like to showcase some contributions women have made to the business community and provide some resources for women looking to impact their community or the next generation of women entrepreneurs. Whether you plan to start your own business and contribute to the local economy, or have expertise that you would like to lend to an organization that supports women in business, this blog post is for you. Women-owned businesses are a powerful force in the economy: • There are over 7 million U.S. women who run their own businesses • Women ...
Monday, March 18, 2013
Posted by Keith Hall (NASE Tax Expert) - There are many places on a small-business owner’s tax return that mistakes can be made. Miscalculations, code section misinterpretations, eligibility oversights, and even the most simple of math mistakes can cause headaches, stomach aches, and even lead to an IRS inquiry. But which mistake is the most devastating? Which mistake do I hate to see more than any other? I hate the mistake that never even makes it to the tax return because the small-business owner forgot to include it, and that is a missed deduction. Any deduction that is eligible, allowable, and ...
Monday, March 11, 2013
Posted by Keith Hall (NASE Tax Expert) - No, I don’t mean the kind that the cat chases, but if you have a mouse you have resources. After years and years of being self-employed and working with the self-employed, I know how easy it is to feel stuck and alone with the issues you are facing with your small business. It’s late Saturday night, and the kids are finally in bed, yet you still have a thousand things to do in your small business. Those are the times that it seems so lonely. But if you have an Internet connection, you ...
Thursday, March 07, 2013
The Small Business Administration (SBA) and VISA have partnered up in a contest that is giving away $30,000 in cash prizes.  If your small business exports goods or services around the world, tell your story to the SBA and have a chance at winning up to a $10,000 first-place prize. The rules are simple, you have to be defined as a small business per SBA standards, sell goods or services internationally and have used a federal government program to aide your business.  If you qualify, get your video camera ready and shoot a video on why you deserve to win. ...
Tuesday, March 05, 2013
Posted by Keith Hall (NASE Tax Expert) - Well, I don’t know for sure about birds or which bird gets which worm, but I do know that it’s never too early to start thinking about your tax return. Most likely you have already received your own little mountain of tax related paperwork including W-2s, 1099s, 1098s, K-1s, brokerage statements, bank statements, HSA statements…and on and on and on.  If you are expecting a refund, the quicker you can get all of those forms filed, the quicker you will get your check back from the IRS. Even if you expect to owe ...

 

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Self Made

A blog on the self-employed and micro-business

Meet the NASE Staff Bloggers


Katie Vlietstra - As Vice President for Government Relations and Public Affairs, I work to explain how actions on Capitol Hill can impact the self-employed. I love D.C. and have made my home in Capitol Hill, where I live with my husband and black Labrador, Coltrane. We love playing volleyball and softball on the National Mall. 

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