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A small business blog featuring tips to help entrepreneurs succeed in the small business world. Topics include family business, human resources, marketing, money, networking, operations, ownership, startup, taxes and technology.
IRS Payments by Credit Card
Starting this year, business owners will be able to pay employment taxes — Forms 940 and 941 — with plastic.
For the first time this tax season, business owners who paid $1,500 or more in wages in any quarter of the previous year will be able to make federal business-tax payments on their American Express, Discover, MasterCard, or Visa, the Internal Revenue Service announced on Jan. 5.
On top of collecting air miles and other bonus points on their cards, small-business owners could cover employment taxes with a credit card payment, then — depending on cash flow — could hold-off on paying the balance on the cards until later in the month.
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