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...
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...
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....
One of the most common mistakes businesses make is not having the right status for a worker. The options are employees or self-employed.An independent contractor (IC) carries out an...
Net interest income can be referred to as a financial performance that shows the difference between the revenue from the interest-bearing assets of a bank alongside the expenses that...
Small Business Loans (SBAs) are among the most popular and reliable ways to get financing for small businesses. As with any financial product, though, loan rates change. What are the...
If you recently installed energy efficiency upgrades in your home, such as solar panels, you can get a credit for your investment. Two energy tax credits are currently available for...
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...
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...