If you are a freelancer, run a small business, work for yourself, or have a side gig in 2021, it is essential to file IRS Schedule C come tax time. This article sheds light on what...
One of the latest tax rules entrepreneurs should know about is the Qualifying Business Income (QBI) Deduction. The deduction, also known as Section 199A, is a 20% deduction available...
Each year, the vast majority of taxpayers file their returns with the IRS between the end of January and the April due date and other filing dates.However, the Internal Revenue Service...
Capital gains are a different type of income from normal corporate profit income. Capital gains taxes come into play in the sale of a business because the capital assets are being...
When you buy personal effects for your business, such as a car or a computer, that last more than a year, you should gradually deduct the cost over several years. This process is called...
In estimating the business use of a vehicle, there are two methods. One needs to calculate the vehicle expenses using each mode and select the most significant deductions approach. The...
Most people have little experience of what happens after the death of a loved one, yet they are appointed as a personal representative or executor to settle the estate. This guide...
Classroom decoration, books, additional teaching materials, party supplies, and occasional gifts are common classroom expenses for K-12 instructors. Do you have to bear the costs of...
Tax season is here, and replacing your annual tax return has never been easier. Your annual security benefit statement, also known as SSA-1099 or SSA-1042S, is a tax form sent out...
