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Tax Time Help for Small Business Owners

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Tax season is upon us! Here are 3 upcoming events to help businessowners prepare for the 2014 season and beyond. Join the GPHCC for an evening of tips on preparing to file taxes for your small business at Prepare Your Business for Tax Season, South Philadelphia event on February 18th from 5 to 7 pm at 1151 south 9th street Philadelphia, PA 19147

The GPHCC will be discussing topics such as:

  • How to prepare for tax season
  • How to read your taxes
  • How your tax return helps you apply for capital
  • How profits vs. distributions affect your tax bill
  • Which taxes business owners need to pay
  • How to reduce your taxes and save for the future
  • What credits you can claim
  • The importance of quarterly tax payments

Information will also be provided regarding a program for businesses that have fallen behind on sales and use, withholding, and other trust taxes. This seminar is intended for Business Owners, Individuals, and Tax Professionals. RSVP to Kate Correa kcorrea@greaterphilachamber.com or visit the http://www.philahispanicchamber.org website.

If you or your spouse received a 1099‐MISC statement for “nonemployee compensation” or income from a trade or service that was not reported on a W‐2, you are required to file a Schedule CEZ or Schedule C to report the income and expenses related to that trade or service. The Campaign for Working Families is providing free assistance for business owners that meet the following conditions:

  • Self‐employed business owners or sole proprietors
  • Business revenue of $100,000 or less
  • Total expenses less than $25,000

For more Information or to register, call 215‐851‐1886. Read more @ http://www.myentrepreneurworks.org/resources/financing/free-tax-preparation-small-business-owners

Filing taxes is much eaiser when the business is organized. Let's get organized with Folding Time. Author Neen James says" It's not about doing everything, its about doing what matters. If you are looking to regain control of your over-worked, over-tired and over-committed life: so you can focus on what matters and who matters, then Folding Time will give you practical everyday tools you can implement immediately. Folding Time is easy to read, easy to understand and brilliantly on target!" Read more @ http://www.amazon.com/Folding-Time-achieve-twice-much-ebook/dp/B00F6HJIIW

With that in mind, The Freshbooks Tour of Philadelphia is helping business owners get organized for the tax season. For the Calling All Female Entrepreneurs series, Freshbooks is the accounting tool. One of the participants owns a staffing company. The staffing company started making invoices in October 2013. They wanted to go back and enter January through September because they noticed a couple of payments did not match the invoices. The company STILL had money on the table and Freshbooks helped them "see" it. In just 15 minutes, we showed the company how to collect additional money from the clients. Now, the client can clearly see the revenue and expenses which makes their accountant very happy! The Freshbooks tour has stops at WORC-PA and Entrepreneur Works. RSVP @ http://freshbooks2014.eventbrite.com

For more information: Follow Newman Networks on Facebook and see all of our upcoming events at http://newmannetworks.eventbrite.com including the Freshbooks tour of Philadelphia on Thursday, February 27th. RSVP @ http://freshbooks2014.eventbrite.com

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