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...
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...
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...
Traders can enjoy significant tax savings and here are some rules that the IRS checks before qualifying traders.Hours: It would help if you spent at least four hours per day trading...
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
The standard mileage rate, also known as daily mileage or deductible mileage, is a rate set by the Internal Revenue Service (IRS) per mile maintained by a taxpayer for business purposes...
Background. Effective for each tax year beginning after December 31, 2017, an ATEO is generally subject to a special tax (currently 21%) on the amount of any employee's overcompensation...
529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
What is the Internal Revenue Code?The Internal Revenue Code refers to Title 26 of the United States Code. "Formal consolidation and codification of the United States' general...