Final Repair and Capitalization Regulations are in. These summarize the different, sometimes contradictory, regulations. Best of all, the IRS has established a hierarchy of the rules. Here are some important takeaways from the hundreds of pages of regs. This is … Read more »
Since as long as I could remember, the penalty for failing to file a form 1099-MISC for a contractor resulted in a $50 total fine per non-filed 1099. On top of that, the only taxpayers I ever encountered who were … Read more »
“It was on a reliable business site on the internet. Should be correct, right?” Here’s an interesting one I found while looking for a Self Employment (SE) Tax calculation for a client’s use. Quick refresh, SE Tax has 2 components … Read more »