Latest Articles

income taxes small business_11427517

September 15, 2021 

Extra, Extra: Read All About IRS Audits

Based on the guidelines in an industry-specific ATG, an IRS examiner can better reconcile discrepancies when reported income or expenses don’t match based on the usual standards in an industry or for a comparable business in the same geographic area.

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September 15, 2021 

CFOs and Finance Leaders Face Growing Responsibilities

The 2021 Finance Trends Survey, conducted by global consulting firm Protiviti, reveals that CFOs and VPs of finance are being looked to for additional actions and data that, until recently, were considered outside their purview.

Airport Denver

September 15, 2021 

2021 Tax Deductions for Business Travel

Many self-employed taxpayers are booking trips now in an effort to reenergize their business opportunities. Good news: If you meet certain requirements, you can write off the bulk of your travel costs, even if you “mix in a little pleasure” with your ...

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September 15, 2021 

2021-2022 Home Office Tax Deductions

To qualify for home office deductions, you must use at least part or your home regularly and exclusively as (1) your principal place of business or (2) a place to meet or deal with customers, clients or patients in the normal course of your business.

1099 NEC 2020

September 15, 2021 

How to Classify Workers as Employees or Contractors

An employee is generally considered to be anyone who performs services, if the business can control what will be done and how it will be done. What matters is that the business has the right to control the details of how the worker’s services are ...

trucks

September 15, 2021 

IRS Extends Dyed Diesel Penalty Relief

In response to the continued shortages of undyed diesel fuel caused by Hurricanes Ida and Nicholas, the IRS has extended the penalty relief provided in IR-2021-176 when dyed diesel fuel is sold or used on the highway.