In tough economic times, hard-working entrepreneurs protect their business by first paying the vendors, suppliers and employees that are necessary to operations, and delaying payment to the IRS. This is because the vendors and employees are at the door, waiting for payment, and there can be no tomorrow without them. The IRS is more distant. The [...]
Employment taxes
1. Be courteous and respectful. You will get nowhere with an angry or condescending attitude, and will just give the IRS reason to come down harder on you. When your head is in the mouth of the bear, say nice bear. 2. Abide by deadlines, or call for more time if one can’t be met. [...]
This week, the New York Times reported that the cost of a 30-pound sack of rice has doubled, and a 15-pound bag of flour has almost tripled for restaurants. An article yesterday in The Cincinnati Enquirer had pasta up 130 percent, eggs up 73 percent. Flour is up 87 percent just in the first three months [...]
