The IRS laid out anticipated guides for reducing business meals expenses. Taxpayers and tax advisors are expected to follow these regulations for verifying business meal expenses so...
Posted by CORE PERFORMANCE on 01/21/2022
The Restructuring and Reform Act of 1998 marked a change that mandated Uncle Sam to adjust how it treated taxpayers. Uncle Sam must fully communicate with taxpayers and grant them...
Posted by Karen Munoz, EA on 12/18/2021
If you've taken a break from the Required Minimum Distributions (RMDs) in 2020 due to the CARES Act, we hope you had a great vacation and are ready to come back and update your...
Posted by CORE PERFORMANCE on 12/10/2021
The Keogh plan (HR 10 plan) is a tax-deferred retirement plan funded by the employer targeted at self-employed people and businesses that are not incorporated. Distributions to such...
Barter transaction happens when a business and another one exchange services with one another. While there are no funds exchanged with barter transactions, Uncle Sam believes you need...
It's tricky to make the mistake of believing that perhaps the benefits of the Roth IRA are limited to retirement. After all, you've presumably been told that you can...
Posted by CORE PERFORMANCE on 02/23/2021
Purchases of new and used commercial vehicles are eligible for tax exemptions per the current tax law. Some vehicles may be eligible for higher deductions than others.The first year...
If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...
Finding out your business's shape can seem like a chore, as there are many types of businesses to start. A good option is a limited liability company (LLC), which has some of the...