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Tax and Societal Implications of the Zombie Apocalypse

Learn how you may need to not just worry about having your brains eaten when the Zombies come. Government collapse may follow.
Copyright © 2013 University of Wyoming When I recently was going over my family’s preparations for the upcoming Zombie Apocalypse, I came across an article in Time… http://www.wyomingsbdc.org/blog1/2013/10/tax-and-societal-implications-zombie-apocalypse/

What Are Your Tax Obligations As A Small Business?

When you are self-employed, it typically means you work for yourself, as an independent contractor, and you own your own independent business. Here are 5 key points that the IRS would like you to know about self-employment and self-employment taxes.
Copyright © 2013 University of Wyoming When you are self-employed, it typically means you work for yourself, as an independent contractor, and you own your own independent… http://www.wyomingsbdc.org/blog1/what-are-your-tax-obligations-small-business/

Profit vs. Taxes

As we head into the last quarter of the year, many small business owners are looking to minimize their tax liability. That's a good thing, right?
Copyright © 2013 University of Wyoming As we head into the last quarter of the year, many small business owners are looking to minimize their tax liability.  That's a good… http://www.wyomingsbdc.org/blog1/profit-vs-taxes/

Important Payroll Notice for Payroll Checks Beginning 1/1/11

As part of the tax legislation passed in December of 2010, the Social Security tax withheld from employee paychecks decreases from 6.2% to 4.2%.
Copyright © 2013 University of Wyoming As part of the tax legislation passed in December of 2010, the Social Security tax withheld from employee paychecks decreases from 6.2%… http://www.wyomingsbdc.org/blog1/important-payroll-notice-payroll-checks-beginning-1111/

Electronic Payment of Taxes - Probably Not an Option Anymore!

Previously, once your business’s federal tax liability (including all taxes) during a calendar year exceeded $200,000 or your payroll tax deposits exceeded $50,000, you were required to use EFTPS or Electronic Federal Tax Payment System, in the second suc…
Copyright © 2013 University of Wyoming Previously, once your business’s federal tax liability (including all taxes) during a calendar year exceeded $200,000 or your payroll… http://www.wyomingsbdc.org/blog1/electronic-payment-taxes-probably-not-option-anymore/

What is Federal Unemployment Tax and why do I have to pay it, too?

The Federal Unemployment Tax Act, or FUTA directs both the states and federal government to run the unemployment tax program for the nation. The program provides payments to workers who have lost their jobs, such as what we have been experiencing during …
Copyright © 2013 University of Wyoming The Federal Unemployment Tax Act, or FUTA directs both the states and federal government to run the unemployment tax program for the… http://www.wyomingsbdc.org/blog1/what-federal-unemployment-tax-and-why-do-i-have-pay-it-too/

I may be hiring some part-time help occasionally for my handyman business. Will I have to make these individuals employees, or can they be independent contractors? Steve L., Casper

Most new businesses tend to shy away from hiring employees, due to the complexities of doing payroll and submitting payroll taxes. Before you write a check to someone as an independent contractor, be sure that you understand how the IRS defines “contract…
Copyright © 2013 University of Wyoming Most new businesses tend to shy away from hiring employees, due to the complexities of doing payroll and submitting payroll taxes. … http://www.wyomingsbdc.org/blog1/i-may-be-hiring-some-part-time-help-occasionally-my-handyman-business-will-i-have-make-these-individuals-employees-or-can-they-b/

As a new business owner, what taxes am I responsible for on the income I earn? Sarah A., Casper

Individuals who are sole proprietors, partners, or members of an LLC compensate themselves by taking a “draw” out of their business. The draw is your income from self-employment, and has no taxes deducted by the company.
Copyright © 2013 University of Wyoming Individuals who are sole proprietors, partners, or members of an LLC compensate themselves by taking a “draw” out of their business.… http://www.wyomingsbdc.org/blog1/new-business-owner-what-taxes-am-i-responsible-income-i-earn-sarah-casper/

Help!!! The bank said I need a "Tax ID" to open a new business account. What is that and where do I get one?

Many times a bank will tell a new business they need a Tax ID. What the new business doesn’t know is there are different types of Tax ID‘s. Do they mean an Employer Identification Number (EIN #) or a Wyoming Sales Tax Number? What are the differences?
Copyright © 2013 University of Wyoming Many times a bank will tell a new business they need a Tax ID. What the new business doesn’t know is there are different types of Tax… http://www.wyomingsbdc.org/blog1/help-bank-said-i-need-tax-id-open-new-business-account-what-and-where-do-i-get-one/

Immediate Health Care Bill Impacts for Small Business

Much of the health care reform legislation doesn’t really kick in for another four years. However, as a small business there are some good things on the immediate horizon in the form of a tax credit to offset health insurance premiums. This provision of…
Copyright © 2013 University of Wyoming Much of the health care reform legislation doesn’t really kick in for another four years.  However, as a small business there are some… http://www.wyomingsbdc.org/blog1/immediate-health-care-bill-impacts-small-business/