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Friday, September 29, 2017

4 Online Tools That Can Help With Your Small Business Taxes

 
As a small business owner, you’ve got enough to worry about. Instead of stressing out about your taxes, let these online tools help do all the heavy lifting for you. From maximizing your tax deductions to getting tips on managing your payroll withholding taxes, these four online tools will be your new end-of-the-year go-to.
 

 
IRS Virtual Small Business Tax Workshop

The IRS Virtual Small Business Tax Workshop is exactly what it sounds like. It is a self-paced, interactive online tax information training tool created to help small business owners navigate and understand their tax obligations year-round. The workshop includes nine lessons that cover important topics, such as federal tax obligations for new business owners, tips on how to set up and run your own business, and a step-by-step guide on how to manage payroll withholding.

 

IRS Small Business Calendar

Navigating the tax year is a pain, even more so if you’re a business owner, which is why the free IRS Calendar for Business and Self-Employed is the perfect tool to keep your dates in check. Available as an online or desktop application, the calendar marks important business tax dates and reminders. The calendar is also automatically updated each year, so you’ll never be out of the loop.

 

TurboTax

TurboTax is a well-known, easy-to-use online tax software designed specifically for self-employed tax payers and small-business owners. TurboTax gives users the option to find industry-specific deductions as well as track their audit risk. If your business is new, TurboTax will display which startup costs, if any, can be deducted. TurboTax also makes it easy for preexisting business owners by allowing them to import their tax information from previous years. If you’re a loyal QuickBooks user, TurboTax will import your income and expense information for you.

 

H&R Block

Like TurboTax, H&R Block is another easy-to-use, online tax software for small business owners. H&R supports most tax forms and promises accurate tax calculations, so you’re almost guaranteed to get your maximum tax refund. H&R Block also has several retail locations throughout the country, so if you’re unsure about something, you can stop in and speak with a real person instead of a computer.
 

 

 
This article was written by Tabitha Shiflett for CBS Small Business Pulse
 



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Listen: Upset Bears Fans React To Packers Loss On Spiegel & Parkins’ Voicemail

(CBS) The Bears were thumped 35-14 by the Packers at Lambeau Field on Thursday night. As they were getting blown out, the voicemail line for the Spiegel and Parkins Show was open.

The frustrated Bears callers didn’t disappoint.



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McHenry Co. Chair Wants Some Officials Off State Retirement Fund

Chicago (CBS) — The head of the McHenry County Board says he and some reformers are pushing hard to end pensions for some top county officials. McHenry County Board Chair Jack Franks says there’s some strong opposition but a growing number of board members are backing his call to remove county wide elected officials from the Illinois Municipal Retirement Fund.

That includes the board chairman, state’s attorney, county clerk, court clerk, treasurer, auditor, recorder, coroner and sheriff.

Franks says it could save millions.”

“We’re on the Wisconsin border and our biggest out migration is to Walworth County which is above where we are. Because people can’t afford to stay here,” said Franks. “So we have to stop business as usual. And we have to rethink government and we need to  demolish the status quo.”

Franks is the guest on this weekend’s “At Issue” program airing Sunday at 9:30 p.m. on WBBM Newsradio 780 and 105.9 FM.



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Forte On Departure From Bears: ‘That’s How The Business Of The NFL Goes’

By Matt Citak

Matt Forte and Jay Cutler shared the Chicago Bears’ backfield for seven seasons. The two were some of Chicago’s biggest playmakers on offense, and played significant roles in the Bears’ run to the NFC Championship Game during the 2010 season.

But a lot of time has passed since that NFC Championship run. The Bears decided not to re-sign Forte following the 2015 season, and a year later, Cutler was released with a few years remaining on his contract.

The two were back on the field together this past Sunday as the New York Jets welcomed the Miami Dolphins to the Meadowlands. But for the first time in their careers, Forte and Cutler were facing each other on opposite sidelines.

“It was weird, you know, him being in the backfield with me for so long,” Forte told CBS Local about playing against his longtime quarterback for the first time. “I talked to him before the game, just talking about family life and all that stuff. How he feels [in Miami]. Just rehashing old times and stuff like that. He was the same Jay I’m used to knowing. It was definitely weird seeing him on the other side of the field. But it ended up being a good day for us, unfortunately for him. But it was nice to see him.”

gettyimages 458723118 e1506703382627 Forte On Departure From Bears: Thats How The Business Of The NFL Goes

Credit: Jonathan Daniel/Getty Images

The Bears selected Forte with the 44th overall pick in the 2008 NFL Draft. The running back rewarded Chicago for drafting him by racking up 1,238 rushing yards and eight touchdowns in his rookie season. But Forte proved to the front office, his teammates, and the entire NFL that he could do more than just carry the ball. In addition to his stellar running stats, the back added 63 receptions for 477 yards and four touchdowns, finishing his first season with the third-most yards from scrimmage in the NFL.

From when he was drafted to when Chicago decided to let him go, Forte led all NFL players with 12,718 yards from scrimmage, while ranking fourth with 8,602 rushing yards. He also led all running backs with 487 receptions and 4,116 receiving yards, and was named to two Pro Bowls. Yet it wasn’t enough for the Bears to want to keep one of the franchise’s greatest all-time running backs.

“That’s how the business of the NFL goes. If that team doesn’t feel like you value them anymore, then they’re going to get rid of you, no matter what,” Forte said about his departure from Chicago. “They don’t care how long you’ve been there or what you’ve done for the team. No matter what blood, sweat, and tears you put in to going out there. Whether you played injured or not, whatever. While I was there, I saw it happen to Brian Urlacher. When I saw something like that happen to a first ballot Hall of Fame-type guy, and for a team to cut ties with him like that like it was nothing, I figured a guy like myself, I’m no different.

“It was unfortunate that happened, but that brings about new opportunities. Just like in life. Failure is not fatal. It brings about more opportunities for you to do something else. I got an opportunity to come to the Jets and play here.”

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Credit: David Banks/Getty Images

Forte landed on his feet following the Bears’ decision to let him go, signing a three-year, $12 million deal with the New York Jets. While he is happy to now be a member of the Jets, it seemed clear that the veteran back was not thrilled with how things played out in Chicago towards the end of his time there.

“That’s kind of some of the things that the fans don’t get to experience, so they don’t understand that part,” said Forte about the end of his tenure with the Bears. “When a player chooses the best scenario or the best situation for himself, [the fans] get mad at the player because, ‘Oh he’s not loyal.’ But at the same time, when the team chooses what’s best for them, whatever they think that might be, and they’re not loyal to the player, [the fans] don’t have a problem with it. It’s backwards.”

Forte will go down as one of the greatest running backs to ever play for the Chicago Bears. He ranks second in franchise history in rushing yards, receiving yards by a running back, yards from scrimmage, 100-yard rushing games, scrimmage yards per game, and games with at least 150 yards from scrimmage, trailing NFL legend Walter Payton in each of those categories.

And while he may not like how everything went down following his final season in Chicago, Forte had nothing but kind words for Bears fans.

“It was awesome being there. Something I will never forget is walking out on Soldier’s Field and having your name announced,” said the 31-year-old running back. “[Bears fans] always talk about Walter Payton and Gale Sayers, and then some of them mention my name. That’s one of the highest honors you can get as a running back. So it was an honor for me to play in the footsteps of those guys. Not only those guys, but all of the other guys. Mike Ditka. Brian Urlacher I played with. Lance Briggs. All the great Bears. [Charles] “Peanut” Tillman. All those guys. It was the highest honor to play with and have my name mentioned among those guys.

gettyimages 503286014 e1506703247996 Forte On Departure From Bears: Thats How The Business Of The NFL Goes

Credit: David Banks/Getty Images

“When I played my last game [in Chicago] against the Lions, I went around the stadium and shook a lot of the fans hands because I didn’t know if I’d be back or not. It ended up that I wasn’t so I was glad that I did that because I wanted to show them the appreciation I had. That they would come out to the games in that cold weather, whether we were winning or not.”

New York is scheduled to play in Chicago at some point during the 2018 season. If Forte is still a member of the Jets next year, Bears fans will get their first opportunity to show their appreciation for one of the franchise’s all-time greats.

Matt Citak is a producer for CBS Local Sports and a proud Vanderbilt alum. Follow him on Twitter or send comments to mcitak@cbs.com.



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Bears Got Owned By Butterfinger — Yes, The Candy Bar — On Twitter

(CBS) It was an ugly night for the Bears on and off the field Thursday night.

Doomed by quarterback Mike Glennon’s four turnovers, the Bears fell 35-14 to the Packers at Lambeau Field. And on Twitter, they got roasted by a candy bar, @Butterfinger, after Glennon fumbled a snap off his knee that the Packers recovered.



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Lack Of Precipitation Continues For Chicagoland Area

CHICAGO (CBS) — The Chicagoland area dry spell is going to last a bit longer.

Even with all the rain that caused major flooding in parts of Northeast Illinois this summer, Illinois State Climatologist Jim Angel said most of the Chicago-area is now behind on rainfall, with one exception. WBBM’s Jim Gudas has more.

“In Lake County they are actually still running a pretty big surplus,” Angel said.

But even in Lake County, much of the flood water evaporated or drained off, so the dry spell is having an effect there as well.

Angel said the dry spell since August is caused by, “a rigid of high pressure that was sitting out West…actually moved in over the top of us. And any time you see the words ‘high pressure’ for us that usually means dry weather.”

And as for when relief will come, Angel said he does not expect any kind of a significant break in the dry spell until late next week at the earliest.



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Economic Boost From Cubs’ Playoff Run Won’t Match 2016

Chicago (CBS) — The Chicago Cubs open their playoff series against the Washington Nationals in D.C. a week from today. A local consulting company is estimating the economic impact will be about $90 million in the Chicago area.

Tim Mahon of MDS Group says Cubs’ playoff economic impact will be down significantly from the $250 million spent last season. He said part of it is because the Cubs got off to a slow start this season after celebrating the team’s first World Series championship in 108 years.

“There’s been more of an emotional demand on fans and a less certain outcome,” said Mahon.

Another reason? The Cubs won it all last year after such a long wait.

“There was also a bit of a spending hangover. The impact was so significant last year because it wasn’t just financial event, it was a huge emotional event,” said Mahon. “Spanning generations and across all demographics.”

Mahon said ticket prices on the secondary market are nowhere near where they were last year. However the economic impact forecast could change if the Cubs make it to the World Series.



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