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...
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,...
What is considered a convertible virtual currency?Convertible virtual currency is an uncontrolled digital currency. Still, it can be used as a substitute for a real and legally recognized...
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...
A cryptocurrency wave has led to the rise of Bitcoin to over $30,000 per coin, with everyone scrambling for their share of the digital currency. However, if you are interested in cryptocurrencies,...
Trade by barter is an ancient means of transaction in which people exchange goods for goods without money. These days, business exchange services with each other in a barter...
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...
It is not a good idea to turn up empty-handed if you have a tax appointment. You need some records as proof as it will save you time and effort.New clients need to have copies of the...
Posted by Karen Munoz, EA on 12/20/2020