Recordkeeping
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What local transportation costs can your business deduct?
You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses.…
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Worried about an IRS audit? Prepare in advance
IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report , but that’s little consolation if your return is among…
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Businesses may receive notices about information returns that don’t match IRS records
The IRS has begun mailing notices to businesses, financial institutions, and other payers that filed certain returns with information that doesn’t match the agency’s records.…
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Want to turn a hobby into a business? Watch out for the tax rules
Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business…
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Fully deduct business meals this year
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief…
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Important tax aspects of operating your business as a sole proprietor
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects…
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