![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/11/Form-1099-K-768x534.png)
AICPA Says $600 Threshold for 1099-K Reporting is Too Low and Outdated
The $600 threshold is based on a threshold established by the Internal Revenue Code section 6041 established in 1954 and does not account for increases in ...
The $600 threshold is based on a threshold established by the Internal Revenue Code section 6041 established in 1954 and does not account for increases in ...
More and more governments are imposing new regulations and taxes on e-cigarettes, vaping products, and similar products.
Clients need compliance expertise from their accounting advisors, yet many firms may be reluctant to offer those services because they may seem complex and labor intensive.
Recession-proofing your firm is only as successful as recession-proofing your clients’ businesses. The recession will end at one point. But the client relationships you preserve will last well beyond.
Notably, you may use a loss to offset a short-term gain realized earlier in the year that would otherwise be taxed at a high ordinary income tax rate.
For the last five years, businesses have been able to use bonus depreciation to expense 100 percent of qualified property, including big-ticket purchases like business aircraft.
Generally, the IRS has three years from the later of the time your tax return was filed or its due date to review the return and assess tax.
A provision in the Tax Cuts and Jobs Act (TCJA) changes how tax law treats research and development expenses ... pushing many money losing startups into owing taxes.