Interest on personal loans and credit cards is generally not a deductible expense. But one important exception to this general rule is when you use a personal credit card or…
In the event of an IRS audit, you need to provide documentation for your deductible expenses. Some people keep the receipts, while others keep credit card statements. So what exactly…
An important aspect of tax compliance for business owners is the requirement to file a 1099-MISC for certain payments made during the normal course of business. If you are a…
For generations, people have had part-time businesses, and in today’s so-called gig economy, it’s even more common. But is your part-time business really a business, or is it a hobby?…
As the gig economy grows and remote work become a bigger part of the US economy, more people are working from a home office. Deducting expenses for a home office…
The IRS offers two methods for making tax payments electronically – Direct Pay and the Electronic Federal Tax Payment System, also known as EFTPS. Both systems are free, but they…