The IRS has announced plans to end a major tax loophole for wealthy taxpayers that could raise more than $50 billion in revenue over the next decade, the U.S. Treasury Department says. They plan to essentially stop “partnership basis shifting", which is a process where a business or person can move assets among a series of related parties to avoid paying taxes.
A new study by Gallup found that over half of Americans are interested in becoming their own boss. The Shopify-Gallup Entrepreneurship study, released Thursday, discovered that 62 percent of the surveyed adults would prefer to be their own boss, while 35 percent prefer working for someone else.
The general rule is that business travel expense deductions are only available to business owners, but don't count yourself out of those deductions just yet. Let's explore the ins and outs of the business travel deductions to ensure you make the most of every business trip.
To start out with, the IRS provides details on business travel tax deductions in IRS publication 463, and the the rules allow a variety of travel expenses to be deducted, including:
It's the season for tornadoes, hurricanes, flooding and devastating winds. So, I thought it would be a good time to review the rules for taking money out of your retirement accounts to get you through the storms.
The one thing any webmaster wants to deal with is spam and security issues. And when you run several websites like to do, it can really be time consuming unless you have the best protection for your systems. And as far as I'm concerned, you can do no better than what the folks at CleanTalk do to take care of that for me.
I get it…
You’ve been lied to before.
There are a ton of video builders out there that claim to be so “easy to use”…
You’d think you could close your eyes, hit a few keys, and pump out oscar winning videos that print cash.
But they lied to you.
So you just end up paying a freelancer 1000’s of $ to do it for you…
*sigh*
Which is why I was skeptical when I first heard about CreateStudio…
It’s supposedly the “#1 animated 3D video builder” on the market right now…
On March 11, 2024, the new rules that the U.S. Department of Labor created to clarify the classifications between independent contractors and employees went into effect. Many employers and freelance contractors have wanted a better distinction between what constitutes the difference and this document is the final rule on that issue.
During the 2024 tax season, a series of tax scams and inaccurate social media advice led thousands of taxpayers to file inflated refund claims.
These scams centered around the Fuel Tax Credit, the Sick and Family Leave Credit and household employment taxes. The IRS has seen thousands of dubious claims come in where it appears taxpayers are claiming credits for which they are not eligible, leading to refunds being delayed and the need for taxpayers to show they have legitimate documentation to support these claims.
Congress passed a law requiring the IRS to use private collection agencies (PCA). These agencies assist the IRS in collecting certain overdue tax accounts. So, if you are approached, how to you know it is legit and not a scam? Read on...
They will place your account with a PCA for collection of your unpaid tax liability because you met one of the following criteria:
The main function of all the activities at Seagull Technologies Inc is to education the small business community. Here is an example of just hiring someone to take care of some of your business functions and not knowing if they are doing it right can cost you big time:
The Inflation Reduction Act made several changes to Medicare Part D (Medicare’s prescription drug program).
Small Business Week honors the people you work with who make a difference in the community. They provide a service, a product or both that might not otherwise be around if it weren’t for them.
MyCorporation can help small business start, maintain and protect their business with confidence. Business Formation packages are created for all types of small businesses.