The discussion focuses on the basic rules for qualifying for a home office deduction based on expenses and the safe-harbor rules that make it easier for taxpayers to take the deduction. The tax return rules for self-employed workers and for employees working from home are mentioned.Schreiber...
What is the most stressful part about working at the company? Every single second of your day is timed. If your even a few moments late from a break or lunch even after years of consistent great employment and leadership you are scolded like you have stoled company time when simply taking...
To claim a qualifying dependent, you must dig into the Internal Revenue Service’s (IRS) dependent eligibility rules before you file. Read on for details about claiming a dependent on taxes and other complementary IRS dependent rules. The rules can be a bit tricky, but don’t worry; we’re...
If the tax agency rules are met, the donations also might be tax deductible. But some older philanthropists have another option. They can give part or all of their required minimum distribution, or RMD,... Read more → Posted on Sunday, November 17, 2024 at 03:56 PM in Charity, ...
What is the most stressful part about working at the company? The software used is old and very outdated and complex, the expectations are that you come out of your training with a passable amount of knowledge retention to do your job but often times the training does not in reality pertain...
If you are self-employed, it's likely you need to fill out an IRS Schedule C to report how much money you made or lost in your business. Freelancers, contractors, side-giggers and small business owners typically attach this profit or loss schedule to the
To me, that’s all good news. It means they’re working through the piles and expediting the ones that have straightforward claims where the businesses played by the rules, processing the oldest ones first. The rest will be examined more critically, or in the case of blatant fraud, flat-...
Fortunately, complying with IRS rules for your new business isn’t too complicated once you understand the basics. Here’s what you need to know as an Etsy seller. At a glance: Etsy tracks and reports your sales throughForm 1099-K. You’ll receive this form if you had over $5,000 in...
specifically for work — a contractor's truck comes to mind — there are rules about what you can and can't deduct. Those rules get even more stringent depending on if you own or lease the car. "Rarely is a car used 100 percent for business by a small business owner," said Bonneau....
“Whether you have the latest top-of-the-line corporate jet or a small prop, the rules can make for some rough turbulence.” Conduct internal audits Regularly review your corporate jet use and related expenses to identify areas that may require improvement or correction. This proactive approach ...