Winning big at a casino is cause to celebrate. But, before celebrations get too out of hand, be sure to keep in mind that a chunk of those winnings will go to Uncle Sam. A failure to pay these taxes can result in an audit, which could lead to penalties and fees that may exceed thecontinue reading…
IRS
Entrepreneurs can use this tip to maximize their bottom line
Entrepreneurs are go getters. These business men and women have that extra grit that’s needed not just to get ahead in the business world, but to forge their own path. As such, these canny business experts are always looking for new ways to maximize their bottom line. One news source that is dedicated to thiscontinue reading…
Tax court clarifies conflict in tax code clauses
Business expenses are deductible. That’s the general rule in the U.S. tax code. However, not every expense is always 100 percent deductible, and where exceptions exist there can be room for disagreement. Differences of opinion can trigger audits by the IRS, which can lead to taxpayers receiving notices of deficiency. Negotiation and compromise often resolvescontinue reading…
Rely on IRS.gov FAQs at your peril
If you have questions about immigration to the United States, you go to USCIS.gov, the official website for the Citizenship and Immigration Services. They have a Frequently Asked Questions area you can turn to and hopefully get straight answers to specific questions. The same goes for most of the major departments. As important as thecontinue reading…
Gig economy growth has serious business tax implications
It’s hard to know how large the so-called gig economy is and how fast it is growing. The federal Bureau of Labor Statistics says current data sheds some light on the subject, but the agency admits it’s unreliable because it’s so old. One report by the Brookings Institution’s Metropolitan Policy Program, credited by some as the mostcontinue reading…