The IRS audit surge is driven by new funding aimed at cracking down on tax evasion. Wealthy individuals and large corporations are the primary targets. This article explains why this surge is happening, who will be most affected, and how to stay compliant. Key Takeaways The IRS is undergoing a significant transformation with $80 billion…

If you’re a taxpayer with business income, you’ve likely heard of the Qualified Business Income Deduction—a tax benefit that could reduce your taxable income by up to 20%. But do you qualify for it? This guide outlines the essential criteria for the deduction and explains how to strategically claim it, so you can optimize your…

Understanding the differences between Form 1099-K and Form 1099-NEC is essential for anyone involved in receiving payments electronically or working as a freelancer. Form 1099-K reports card and third-party network payments, and Form 1099-NEC is for reporting non-employee compensation. This guide will explain the purpose of each form, detail their reporting requirements, and guide you…

Staying compliant with business regulations isn’t just about avoiding penalties—it’s about safeguarding your company’s reputation and ensuring long-term success. Our expert guide offers tailored strategies designed for today’s dynamic business environment. From navigating new laws like the Corporate Transparency Act to implementing robust compliance programs, we’ll help you stay ahead of the curve. With our…