Business owners often wonder which business entity makes the most sense for their situation. An S Corporation is a popular choice because it offers both personal liability protection and certain tax benefits. This article covers the basics of becoming an … Read More
The Dirty Dozen represents the worst of the worst tax scams. The IRS recently updated its list of the 12 worst tax-related scams in America, known as the Dirty Dozen. Several current Dirty Dozen cases involve social media phishing, where … Read More
Thanks to the cloud, if there is one thing that is consistent about QuickBooks Online, it’s the ability to evolve the product for a business owners accounting needs. Here is an overview of two latest evolutions: The new Chart of Accounts … Read More
The Internal Revenue Service (IRS) has issued its 2021 standard mileage rates. Beginning on January 1, 2021, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 56 cents per mile for business miles … Read More
Thankfully, the odds that your tax return will be singled out for an audit are pretty low. The IRS audited only 0.4% of all individual tax returns in 2019 (down from 0.59% in 2018). Plus, the vast majority of these … Read More
