Teachers: Classroom Supplies May Be Tax Deductible
Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful.
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IRS
Tax information from the IRS and shared by Vernoia, Enterline + Brewer, CPA LLC.
What Businesses Should Know About Excise Tax
Excise tax is an indirect tax on specific goods, services and activities.
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Things to Know About Crowdfunding and Taxes
Crowdfunding is a popular way to raise money online. People often use crowdfunding to fundraise for a business, for charity, or for gifts. It’s important to know that money raised through crowdfunding may be taxable.
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What Business Owners Do When Closing Their Doors for Good
There are a few things business owners need to do before they close their business.
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College Students Study Up On These Two Tax Credits
Anyone pursuing higher education, including specialized job training and grad school, knows it can be pricey.
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What Businesses Need to Know About Reporting Nonemployee Compensation
When a business hires an independent contractor, the employer is generally not responsible for withholding income taxes, Social Security, or Medicare taxes from their compensation.
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What Taxpayers Need to Know About Business Related Travel Deductions
Business travel can be costly. Hotel bills, airfare or train tickets, cab fares, public transportation – it can all add up fast. The good news is business travelers may be able to offset some of those costs by claiming business travel deductions when they file their taxes.
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Companies Who Promise to Eliminate Tax Debt Sometimes Leave Taxpayers High and Dry
As the old saying goes: When something sounds too good to be true, it probably is. Taxpayers with outstanding tax bills might be tempted by businesses that advertise and offer to help them reduce their tax debt.
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Making 2022 Estimated Tax Payments
By law, everyone must pay tax as they earn income. Generally, taxpayers must pay at least 90 percent of their taxes throughout the year through withholding, estimated or additional tax payments or a combination of the two.
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The Enhanced Business Meal Deduction
The IRS encourages businesses to begin planning now to take advantage of tax benefits available to them when they file their 2022 federal income tax return. This includes the enhanced business meal deduction.
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