The Revenue Agency has updated procedures affecting the Individual Identification Number (ITIN) application process. Taxpayers and their representatives should review the following...
Posted by Rosovich & Associates, Inc. on 11/11/2021
The CARES (Coronavirus Aid, Relief, and Economic Security) Act establishes many major loan and tax exemption programs to help tribal-owned businesses stay afloat and retain their employees...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 08/15/2021
Uncle Sam allows small businesses to defer tax payment in a series of ways. Here are four methods to make this happen:Apply for a Payment Plan (Short Term)You can defer your tax payment...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/31/2021
Amnesty is an act of mercy on the part of the government. It is the decision not to punish a person, business, or entity for a crime. Under a tax amnesty program, a state provides...
Purchasing a home is a significant financial milestone, and one of the most fundamental decisions you'll face is how to finance your purchase. While many homebuyers opt for a mortgage...
As a self-employed worker, you can claim the status of an independent contractor. However, when it comes to paying taxes, your status has its peculiarities.If you're an independent...
Posted by CORE PERFORMANCE on 03/17/2022
If you own a rental property, you should know your federal tax obligations. All rental income needs to be reported on your tax return, and the associated expenses can generally be...
Reconciliation is the method of verifying the accuracy and consistency of your financial statements.Reconciliation also helps identify and explain any discrepancies that may arise...
What is an Accounting Method?An accounting method refers to the rules that a business follows when reporting income and expenses. The two main accounting methods are accrual accounting...