The IRS recently announced several areas of focus it says it intends to look at in reviewing and auditing small businesses for underreporting of taxes. This article briefly discusses these areas of interest for the IRS.
It's estimated that only about 1 percent of taxpayers are audited by the Internal Revenue Service (IRS). If you're playing by percentages and filing your taxes on time and correctly, chances are you'll never hear a peep out of them. But for...
A Warning To All Businesses
As Everyone knows, tax laws are one of the certainties of life. Most of us are aware of income tax and sales tax, but did anyone know that most countries around the world taxes prostitution. We had a closer look at some of what we call the...
This article briefly explains Startup Act 2.0, a new bill introduced in both houses of Congress that, in addition to its entrepreneurship-aimed immigration reform, will also make permanent the tax exemption on qualified small business stock.
With no state income tax, Hollywood Florida residents still are subject to federal income taxes. Learn how you can solve IRS problems and the solutions available to you.
This article shares important information about tax filing requirements for individuals who have more than $10,000 in a foreign bank account. The article details the reporting requirements such individuals must satisfy and highlights some of...
This article analyzes various efforts by the Internal Revenue Service to help taxpayers suffering from financial distress meet their tax burden. The article's analysis focuses on two announced measures: relief from tax penalties for...
This article examines some of the legal and practical considerations which you should bear in mind when deciding whether or not to invest in a family member's business. The article details why such investments can be attractive, but it also...
One thing to consider when planning an offering is what investor qualifications you can live with. In making this decision it’s important to keep in mind that the definition of “accredited investor” is now more limited than it...