Who in a small business can be hit with the “Trust Fund Recovery Penalty?”
July 14, 2021
The IRS will impose the “Trust Fund Recovery Penalty” on certain business owners and managers personally if employment taxes aren’t paid to the government. Find out if you could be liable.
Can taxpayers who manage their own investment portfolios deduct related expenses? It depends
July 13, 2021
Are you an investor or a trader? The difference is important for tax purposes.
Is your company ready for agile auditing?
July 12, 2021
The traditional approach to internal audits may be too rigid for the needs of modern businesses. Here’s a more flexible approach that’s growing in popularity.
IRS continues to address COVID-related leave
July 9, 2021
Employers may still be able to claim the paid sick leave or paid family leave tax credits provided under the American Rescue Plan Act. However, you’ll need to substantiate eligibility carefully.
IRS audits may be increasing, so be prepared
July 6, 2021
An IRS audit seems scary but may be nothing to worry about. In many cases, the IRS closes an audit after receiving requested documentation. Here are the latest IRS statistics, as well as some tips on how to help come out of an audit with a favorable result.
10 facts about the pass-through deduction for qualified business income
July 6, 2021
Owners of “pass-through” businesses can claim a valuable tax deduction that was created by a 2017 law. Here’s how much it’s worth and who is eligible.
