Small Business December 13, 2024
Bill Launches 1099 Filing Solution
The 1099 filing offering from BILL is an all-in-one solution that enables businesses to manage their AP needs and 1099-NEC and 1099-MISC forms together from a single platform.
Small Business December 12, 2024
Every Season is Tax Season for Small Businesses. Better Financial Tools Can Reduce the Burden
According to SCORE, 82% of small businesses fail due to issues managing cash flow. If money has not been set aside for taxes, an unexpected rise in expenses can cause their business to fail. As a result, personal savings can be wiped out, and those with small business loans can go into debt.
Taxes December 10, 2024
IRS: $53 Million in TCE and VITA Grants Awarded for 2025
The agency awarded grants to 41 Tax Counseling for the Elderly and 315 Volunteer Income Tax Assistance applicants.
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Taxes March 28, 2024
Dividing a 401(k) in Divorce
Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.
Taxes November 29, 2023
5 Ways to Gift Yourself Tax Savings This Holiday Season
The Illinois CPA Society offers five money moves to make before the end of the year to create some tax-time savings now and in the year ahead.
Taxes November 28, 2023
Survey Shows Proposed 1099-K Rules Would Hurt Sellers
As a result of these proposed changes, 83% of marketplaces anticipate sellers to leave their platforms, and a majority (55%) of marketplace sellers and gig workers are reconsidering online selling and on-demand work.
Taxes November 27, 2023
Corvee Adds Augusta Rule Deduction Guidelines for Home Rentals to Tax Planning System
The nickname is derived from the practice of taxpayers renting out their in homes as temporary lodging during major sporting events hosted in, or near, their city.
November 21, 2023
Colorado Passes Property Tax Relief, Flat Tax Refund, EITC Match, Other Bills
Colorado may be known for having lower property taxes compared to most states, but historic increases in property values that will drive up tax bills prompted lawmakers to act.
Taxes November 20, 2023
When Will 2024 Tax Refunds Come? 2024 Tax Season Questions.
This easy chart can tell you when you are likely to receive your 2024 income tax refund, if you are due one. E-filing of tax returns will likely start in January.
Taxes November 17, 2023
Proposed IRS Regs Would Remove Deductions for Some Syndicated Conservation Easements by Pass-Throughs
Syndicated conservation easements have been included in the IRS' annual list of Dirty Dozen tax schemes for many years.
Taxes November 9, 2023
IRS Advisory Council Issues Report with Recommendations on Agency Changes
The 2023 Public Report includes recommendations on 23 issues covering a broad range of topics including: Sec. 302, EINs, 1099-K reporting, Employee Plans, Modernizing Forms.
Taxes November 2, 2023
How to Achieve a 0 Percent Capital Gains Tax Rate
Your gains and losses are short-term or long-term. Short-term loses reflect sales of assets held a year or less. Long-term gains are for sales of assets held longer than a year.