The IRS announced that it will start Form 1099-K matching in late 2013. In February of 2012, the IRS provided a reprieve from merchant card reporting on business returns for 2011 Schedule C and Forms 1065, 1120S and 1120; however, the IRS plans to change its approach after 2012 returns are filed. The IRS has indicated […]
Virtual Small Business Tax Workshop
The Internal Revenue Service has a virtual space where small business owners can learn about federal tax responsibilities: Virtual Small Business Tax Workshop. Click to open then click “Start” mid-level on the left. Sit back and learn something. The nice thing is you can do it over as many times as you feel the need.
Deducting blogging expenses
By Glenna Mae Hendricks, E.A. A commenter asked: Can you still claim business expenses on your taxes if you’re a blog contributor and the website can’t pay you yet because it’s just barely profitable? This answer assumes that you live and practice your profession in the United States. Bloggers networking at SXSW 2009 If you […]
6 Things Self-employed Should Know From the IRS
By Maesz IRS Tax Tip 2012-16, January 25, 2012 There are many benefits that come from being your own boss. If you work for yourself, as an independent contractor, or you carry on a trade or business as a sole proprietor, you are generally considered to be self-employed. Here are six key points the IRS […]
