How you can deduct business startup costs from your income taxes When starting a business, owners should treat all eligible costs incurred before beginning to operate the business as capital expenditures that are part of their basis in the business.…
Are you an employee or independent contractor? For decades. this is a question that has deeply concerned not only the federal government but state governments throughout the country. For federal tax purposes, the distinction between the two is crucial. The…
In early 2020, the Internal Revenue Service issued Revenue Procedure 2020-11 (Rev. Proc. 2020-11) about the established safe harbor that extends relief to taxpayers who used federal or private student loans to finance attending a nonprofit or for-profit school. The relief described…
