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A fringe benefit is a form of pay for providing a service. For example using your company car for personal errands is a form of fringe benefit. Any fringe benefit is taxable unless it is specifically excluded by the law. Taxable fringe benefits must be included in wages and reported on the W-2. This article discusses some fringe benefits excluded by the law. Health benefits The cost of providing group

Most people go into business hoping to make money, but what if plans don't turn out as you like. It is wise to plan for the worst case scenario. If your legal structure is a corporation, you can take advantage of code section 1244. Code section 1244 allows you to write off your capital losses against ordinary income. Normally, there is a limit to the amount of capital loss deduction you can

92% of New Year's Resolutions don't work because there is no real correlation between what people say they are going to do and who they believe they really are. If you believe you are a poor person and you will always be in debt, then it doesn't matter how many books you read or how many plans you make, your thought about yourself will become your reality. For as a man

Standard Mileage Rate for Business Use of Car Small business owners are allowed to deduct vehicle usage using actual expenses or the standard mileage rate. The standard mileage rate is a rate that takes into consideration the wear and tear of using your vehicle for business. In 2015, the standard mileage rate for business use of a car, van, pickup truck, or panel truck was 57.5 cents per mile but it will

 When other people cannot achieve something they tell you it's impossible for you to achieve that thing. Have you ever wondered if you are capable of building a profitable small business? Do you find yourself in a spiral of getting a job, then venturing into entrepreneurship, then back to getting a job? If this sounds like you it might just be because you are not speaking the right language. Have