Taxes

On-Demand (Gig) Economy Tips & Advice From the IRS (2020)

IRS Advice for Gig Economy Small Businesses | 2020

What the IRS Wants You to Know About Excise Taxes

What the IRS Wants You to Know About Your 2019 Estimated Tax Payments

What is the Difference Between a Small Business and a Hobby (For Tax Reasons)?

The IRS considers these factors when determining the difference between a business and a hobby.

14 Million Taxpayers Have Claimed the 2018 Small Business Tax Deduction

What the IRS Wants You to Know About Car Expenses, Deductions and Taxes | 2019

What the IRS Wants You to Know About Backup Withholdings

There are situations when a taxpayer is required to withhold at the current rate of 24 percent. Here’s how they may apply to you.

Qualify for a Home Office Deduction and You’ll Save on Your Tax Bill (2019)

Taxpayers can take a home office deduction if they use a portion of their home as a workplace.

What the IRS Wants Small Business Owners to Know About Depreciation

Businesses can generally depreciate tangible property, except land.

What the IRS Wants a Small Business to Know About Reporting Cash Payments

Federal law requires a person to report cash transactions (or “cash payment”) of more than $10,000 to the IRS. Here are some facts from the IRS about reporting these payments.

What Business Owners Should Know About the 20 Percent Tax Deduction

Eligible taxpayers can claim the deduction for the first time on the 2018 federal income tax return they file in 2019.