Business & Self-Employed

IRS IS DOUBLING IN ITS SIZE IRS is doubling in its size. After the passage of the Inflation Reduction Act, promised by candidate Biden, and passed by President Biden, the administration is going to add over $87 billion into the IRS, as it has be... Read More

Tax implications of working remotely. Not too many years ago, most people worked from an office. Yet the Covid Pandemic changed that. People who were locked up inside their homes for shelter, had time to think about work, and many industries st... Read More

IRS special per diem tax rates. Every year the IRS comes out with new Per Diem tax rates that businesses can use to lower the taxable income they have, by lowering their taxable income. Yet in practice, many self employed business owners make t... Read More

FTC warning to Gig Companies. When the Biden campaign started, one of the promises it made, was to protect the rights of workers and help unions regain lost ground to increase the wages of Americans. On that same front, the FTC, under direction... Read More

Tax code has not caused corporate change. One of the provisions of a change to the tax code, was to increase taxes on the Executive Compensation of Corporate Officers. It was intended by Congress to rein in excessive compensation packages that ... Read More

Proper status for filing business taxes. Whenever someone decides to open up a business, they should at some point stop, and determine what status the business should take. Why ? Well because we have spoken to hundreds of business owners over t... Read More

Finding a company status and taxes. We have dealt with a multitude of companies who fell behind on their taxes due to incorrectly filing for the proper status when they started the company. Several of these companies, painfully, found out the o... Read More

Small business taxes creating structure. This is a multi part article designed to help small businesses, in an effort to prevent them from obtaining tax debt's at the beginning of their business. The first thing you need to determine, when crea... Read More

Information for filing small business taxes. We have worked with numerous small business owners who started a company, became successful, but forgot a few things at the beginning of the adventure, that eventually cost them dearly with the IRS an... Read More

Farm businesses receive IRS guidance. The IRS issued Revenue Procedure 2021-14, which gave instructions for taxpayers with a net operating loss (NOL), consisting entirely or partly of a "farming loss", as defined in Sec. 172 (b)(1)(B)(2), on ho... Read More