Newsletter Employee vs. Independent Contractor – Seven Tips for Business Owners As a small business owner you may hire people as independent contractors or as employees. There are rules that will help you determine how to classify the people you hire. This will affect how much you pay in taxes, whether you need to withhold from your workers paychecks and what tax documents you need to file. Tracking Time for Nonexempt Employees The Fair Labor Standards Act (FLSA) dictates that employers must track and record the time worked by nonexempt employees each workday and the total number of hours worked in each workweek. Does the IRS Owe You Money The Internal Revenue Service may have money for you. Was your income below the limit that requires you to file a tax return? If so, you may still be due a refund. Tips From the IRS on Starting a New Business Are you opening a new business this summer? The IRS has many resources available for individuals that are opening a new business. Here are six tax tips the IRS wants new business owners to know. Seven Tips for Students with a Summer Job Many students get a summer job during their time off from school. Here are the top seven things the IRS wants everyone to know about income earned while working a summer job. --Select Additional Newsletters Here-- Closing Deadline Extended to Sept. 30 for Homebuyer Credit Purchases IRS Offers Help to Oil Spill Victims What You Need to Know about the Home Office Deduction Insurance for Your Children Until Age 26 Summertime Tips on Child Care Expenses The American Opportunity Credit Tax Treatment of Legal Fees Tax Treatment of Legal Settlements Small Tax Exempts - Don't Throw Away Your Tax Exempt Status Rules for Renting Out a Vacation Home Tax Credit Helps Small Employers Provide Health Insurance Coverage Can’t Make the April 15 Filing Deadline? Go Green and Get Green Ten Things You Need to Know About Tax Refunds The New "Hire Act" The Dirty Dozen of Tax Scams Is 2010 the Year to Convert to a Roth IRA Time is Running Out: IRS Has $1.3 Billion for People Who Have Not Filed a 2006 Tax Return Now You Can Buy U.S. Savings Bonds With Your Tax Refund Check Your Tax Refund All Tax Season Long What to Do If You Are Missing a W-2 Get Your Refund Faster - Choose Direct Deposit 8 Reason to File a Tax Return Even If You Are Not Required To Haiti Contributions Can Be Deducted on 2009 Tax Return What Should You Bring When You Have Your Taxes Prepared Give a man a fish and you feed him for a day. Teach a man to spot a phish and save his identity for a lifetime. Understanding Social Media and How It Can Help Your Small Business IRS Reminds Car Shoppers about 2009 Tax Break Payroll: Preparing for Year-End Year end tax tips for 2009 Higher Section 179 Deduction and Bonus Depreciation Expiring at End of 2009 New Friendlier NOL Carryback Provisions Ten Facts to Know About the Extended and Expanded Home Buyer Tax Credit How Should You Set Up Your New Business? Facts You Should Know About Roth IRA’s Sharing Your Stock Market Losses With Uncle Sam Top Ten facts about the Tuition and Fees Deduction Classifying employees as exempt or non exempt Consider the Installment Method When Selling a Small Business OVERTIME: When the Basic Rules Get Complicated Keeping Good Records Reduces Stress at Tax Time Don't forget the tax benefits from the American Recovery and Reinvestment Act Tax Tips for Recently Married Taxpayers Tax Benefits for Members of the Armed Services New Auto Sales Tax Deduction Tips for Rental Properties Our Top Ten Tax Tips Good Reasons to File a Gift Tax Return Corporate Officers May Be Personally Liable for Some Taxes The Home Office Deduction: Know the Do's and Don'ts Use a Loss to Your Best Advantage Is There Something for You in the Energy Act? Did You Know that Interest Tracing Rules Determine the Deductibility of Interest Payments? Rules for Deducting the Contribution of Vehicles To Roth or Not to Roth? That is the IRA Question!