It is safe to call form 1040, the mother of all tax forms, as it is the standard tax form that people will need to report their income to Uncle Sam. In addition, it also comes handy...
Running a farm can be cumbersome when you consider several expenses and income sources, credits and deductions, etc., which makes things complicated when it is time to file taxes. Everyone...
What is barter?Barter is an act of exchanging goods or services between two or more parties, sometimes more without using a monetary medium, such as physical cash or credit card. Essentially,...
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...
While taxes for 2020 are not due until 2021, many important financial decisions made now can have a major impact on farm taxes and when they are paid. An important resource is the...
Couples living in a community property state own their marital properties, income, and assets jointly. If you earn around $75,000, the income is yours as much as it is your spouse....
The Internal Revenue Service (IRS) recently published comprehensive information on their website on tax policy for the cannabis industry, specifically the marijuana industry. The site...
Estimated tax is the method some employers use to pay income taxes. When paying income taxes, there are two methods allowed by the IRS; the withholding method or, you guessed it, the...
Form 1099-G is one of a series of "1099" forms used by the IRS to report various payments and financial transactions with the government, in addition to employee salaries.Key...