IRS Small Business eNewsletterAnonymousSmall Business Advocate
The IRS expects that if you start a business, you intend to make money at it. If you don't, your business might be a hobby. To determine if your business is a hobby, the IRS looks at numerous factors, including the following: Do you put in the necessary time and effort...
Starting January 2024, any person or business who receives totalpayments above $600in a given year from credit cards or third-party processing payment providers will receive Form 1099-K, regardless of the number of transactions. If you want to learn more about the 1099-K and the new requireme...
If you missed them, they were on added Internal Revenue Service efforts this filing season to detect tax scams and return fraud and about how filing early helps beat tax ID thieves to the stolen refund punch. Well, here’s a third mention. And this time, it’s some good news from the...
IRS Form 8829, Expenses for Business Use of Your Home, is a tax form used by certain self-employed people to calculate the home office deduction. It helps you determine the portion of your home expenses (such as mortgage interest, rent, utilities, insurance, repairs, and de...
Check out ourlist of small business tax deductionsfor more ways to save on your taxes as a business owner selling on Etsy. Operating your business in a business-like manner is important. If you can show that you operate your business seriously and it’s notjust a hobby, you can generally...
IRS Auditors Targeting Small Business Owners -- but There Are Ways to Protect Your Company (Posted 2013-04-22 15:09:51) ; A New Report Suggests the Agency Will Set Its Crosshairs on Small Business Owners -- but There Are Ways You Can Help Protect Your Company...
Her work has appeared in The Associated Press, The Washington Post and Yahoo Finance. See full bio. Tina Orem Tina Orem is an editor at NerdWallet. Before becoming an editor, she was NerdWallet's authority on taxes and small business. Her work has appeared in a variety of local and ...
, close your business and seize your assets . why? because they can. 937,514 americans have delinquent tax accounts with the irs. if you owe money to the irs, you are not alone. if you owe more than $5,000 you are probably starting to panic and wondering what assets can be seized ...
2025 Tax Season: How and When You Can Tax File Your Tax Return in 2025 Looking forward to filing your taxes? It’s not a sentiment everyone shares, but if you’ve been anticipating it, tax season is fast approaching. Prepare yourself for the 2025 tax season by noting the important deadli...