If you have hired a gardener, nanny, cleaner, or other types of worker for household work, the law requires you to pay state and federal payroll taxes. This article sheds light on...
As we ring in a New Year every year, the excitement eventually paves the way for certain realities such as paying taxes! Yes, taxes must be filed yearly, and 2020 is no different as...
Posted by Stevenson Tax and Accounting, Inc. on 02/23/2021
Many U.S. businesses will face the threat of increased exposure to unclaimed property in 2021 as states and private parties step up audits, litigation, and legislative changes aimed...
Posted by One Stop Taxes on 02/23/2021
What is considered a convertible virtual currency?Convertible virtual currency is an uncontrolled digital currency. Still, it can be used as a substitute for a real and legally recognized...
In filing your federal tax return, you can decide to go through the itemized deduction channel or standard deduction method. Standard deduction involves some values defined by Uncle...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
One of the most vital parts of financial planning is life insurance. It is essential for people of a higher age as it helps them ensure their loved ones are in good care once they...
Bad debts arise because money was loaned to a debtor or a customer received credit for purchasing a product or service, but the recipient could not fully or partially repay the debt....
Under the cash method of accounting, not only is income recorded in the year in which it was received, but income is also reported in the year in which it is constructively received.The...