I received a 1099-K?
The 1099-K form is issued by third-party payment processors (such as PayPal, Venmo, or credit card companies) to report transactions made through
FAQ’s
Can I Deduct Donated Time or Services?
Unfortunately, the short answer is, “No”. The IRS does not allow the deduction of time spent or services provided at
New Energy Credits 2023 to 2032
“The new credit increases from 10% to 30%, of qualified energy-efficient improvements and residential property expenses. It also removes the
Work Opportunity Tax Credit (WOTC)
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers for hiring and employing individuals from
Temporary Employee vs Permanent Employee
There are no federal laws defining how long an employee can be considered “temporary.” The time frame can vary based
Nebraska Microenterprise Tax Credit
If you are starting a new business and/or expanding your existing small (less than six full-time equivalent employees) business in
Meals & Entertainment FAQ
Q: What are tax deductible business meals? A: Tax deductible business meals are meals that are primarily for business purposes
Stacking Itemized Deduction Utilizing a Donor Advised Fund (DAF)
With the large federal standard deduction most people are no longer itemizing their tax deductions. Itemized deductions include, among a
W-2 Employee vs. 1099 Contractor
Classifying a worker as a W-2 Employee vs. a 1099 Contractor has significant tax and other consequences on both the
Business vs Hobby
When it comes to earning income from a side gig of any sort you are in one of two worlds: