IRS Small Business eNewsletterAnonymousSmall Business Advocate
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...
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...
As technology has advanced and become more and more integrated into daily life, the potential for technology-based crime has also increased. Hence, the IRS has built a Cyber Crimes Unit to address this issue. On page 10 of their 2018 annual report, they state that the purpose of the CCU ...
When it comes to an IRS audit, it’s important to avoid the patterns of behavior and record-keeping that can raise suspicions. Another thing the IRS is looking for is the blurring of the lines between personal and business expenses. If you’re a farmer or a sole proprietor, it’s impo...
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 effor...
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...
, 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 ...
Again, this rule is aimed at individuals who run a side hustle, small business or do part-time work and receive payments through a business account on third-party payment platforms. So if you don't have a business account and you're just sending money to friends for a restaurant bill or...
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