In April 2021, President Biden’s American Families Plan contained a proposal under which banks would report deposits and withdrawals for all business and personal accounts to the IRS except for accounts below a threshold of $600 or a fair market…
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…
