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IRS ALTERS AUDIT FOCUS
Article Highlights: Audit Methods Additional Audit Funding Taxpayers Earning Less Than $400,000 Earned Income Tax Credit Taxpayers With Total Positive Income Above $1 Million Partnerships Foreign Bank Accounts Employee Retention Credit A key component in promoting the...
YEAR-END PREP: 5 KEY QUICKBOOKS ONLINE TASKS BEFORE JANUARY 1
December always seems to fly by. In just a few short weeks, Thanksgiving dinner will be over and it will be time to welcome the New Year. The holiday season brings personal obligations, but for retailers, it's also the busiest time of the year. Even if you're not in...
DEMYSTIFYING BUSINESS VALUATIONS: A GUIDE FOR INFORMED DECISION-MAKING
As a business owner, understanding the value of your company is crucial for various scenarios, from transactions to tax reporting, financial reporting, and even potential litigation. In this comprehensive guide, we’ll address ten commonly asked questions about...
CONVERTING PERSONAL VEHICLES TO BUSINESS USE: A COMPREHENSIVE GUIDE
As a taxpayer and business owner, you may be considering converting your personal vehicle to business use. This decision can offer significant tax and financial advantages, but it's crucial to understand the process and legal implications. Here's a step-by-step guide...
WHAT TO DO WHEN YOU’VE MADE A MISTAKE ON YOUR TAX RETURN
Filing taxes can be a complex process, and it's not uncommon for mistakes to occur. Whether it's a simple miscalculation or a more significant error, knowing how to navigate IRS tax problems is crucial for taxpayers. In this guide, we'll walk you through the steps to...
IRS OFFERING A WITHDRAWAL PROCESS FOR INELIGIBLE ERC CLAIMS
Article Highlights: ERC Marketers and Promoters Potential Criminal Investigation and Prosecution About the ERC Who Can Withdraw an ERC Claim How to Withdraw a Questionable ERC Claim The IRS has created a withdrawal option to help small business owners and others who...