IRS Form 1099 Reporting
Form 1099 is a series of forms used in the United States income tax system by the Internal Revenue Service (IRS) to prepare and file an information return under Internal Revenue Code Section (IRC) 6041
View ArticleTax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
The EGTRRA phased-out the estate and generation-skipping transfer taxes so that they were fully repealed in 2010, and lowered the gift tax rate to 35 percent and increased the gift tax exemption to $1...
View ArticleQuickBooks2011 What's New and Improved
A brief review of the new and improved features and tools available forQuickBooks Pro 2011, QuickBooks Premier 2011, QuickBooks Enterprise Solutions 11.0
View ArticleEligibility Requirements of S Corporations
To elect and continue S corporation status the corporation and its shareholders must meet a number of basic requirements. Under IRC Section 1361, only a "small business corporation" can operate as an S...
View ArticleTax Shelter Penalty Cases Hurt Thousands of Small Business Owners
Insurance agents and others sell 412i, 419, captive insurance and section 79 scams to unsuspecting business owners. The IRS considers many of these plans abusive tax shelters, listed transactions,...
View ArticleIRS 20 Factor Test - Independent Contractor or Employee?
The IRS test often is termed the “right-to-control test” because each factor is designed to evaluate who controls how work is performed. Under IRS rules and common-law doctrine, independent contractors...
View ArticleImplementing a Records Retention Program
Download this white paper and learn how to take inventory, audit what records need to be retained, categorize records, create a retention and destruction schedule, and more. There is only so much...
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