Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If you’re among them, be careful that these workers are properly classified for federal tax purposes. If the IRS...
The IRS recently delayed the requirement to lower the reporting threshold from $20,000 and 200 transactions in a year to $600 and any number of transactions. Had they not delayed, taxpayers would have been flooded with unexpected 1099-K forms and confusion in January...
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by putting your child on the payroll. It’s a...
Electric vehicles (EVs) are said to be the future of transportation. However, the high cost of EVs has been a deterrent for many potential buyers. To encourage the adoption of electric vehicles, the US government provides EV tax credits to eligible buyers. EV tax...
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting...
“When will I get my tax refund?” “If I were to get a tax notice, when would I know?” “Now that we’ve amended my return, when will I get my refund?” These are questions we hear every day. And, they are excellent questions that taxpayers have a right to ask....
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