It’s that time of year again – tax season is upon us. For many businesses, preparing for tax season can be a daunting task. Gathering all necessary documents and records, calculating taxable income and tax liability, and meeting deadlines can all be overwhelming. But it’s important to remember that being proactive and taking the necessary…
Are you aware of the recent changes in tax reporting rules announced by the Internal Revenue Service (IRS) regarding Form 1099-K? The IRS has announced a delay in the implementation of the new $600 rule for Form 1099-K, which would have required third-party payment networks, such as Venmo and PayPal, to send a Form 1099-K…
As a small business owner, it’s essential to stay informed about the various tax credits available to you. These credits can significantly reduce your tax burden, but it can be challenging to keep track of all the options. In this blog post, we’ll provide a comprehensive guide to commonly missed small business tax credits that…
Cryptocurrencies are digital assets that can be used to make payments for goods and services, but many investors treat them like stock shares. In recent years, interest in cryptocurrencies has skyrocketed. Its popularity stems from the fact that it is a decentralized medium of exchange, which means it operates without the assistance of banks, financial…