Many U.S. businesses will face the threat of increased exposure to unclaimed property in 2021 as states and private parties step up audits, litigation, and legislative changes aimed...
Posted by One Stop Taxes on 02/23/2021
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,...
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...
If you're like most business owners who want to close the year and prepare taxes this month, there are several holiday expenses that you can deduct that can save you thousands...
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...
As the costs, inconvenience, and safety concerns of commercial flights continue to rise, many people and businesses find using a private jet a better and more efficient form of transportation...
Currently, there are more than 10 million taxpayers who haven’t filed their tax returns (known as non-filers) in the United States. Thanks to a budget increase, the IRS is prepared...
Posted by Ace Plus Tax Resolution on 08/04/2020
The paycheck protection program is a product of the CARES Act. It is available to business owners via institutions like the bank of America. It allows businesses to borrow money and...
Posted by Elliot Kravitz, ATP on 06/22/2020