If you are thinking of getting a subcontracting agreement with US Medical Glove Company, be aware that they do not honor subcontracts. Work done in March, April, May was finally paid in August 2021. Contracting Officers have been notified of late payments with a total disregard to
IRS has a Spanish version of the 2020 Form 1040 for the 1st time. The forms and Schedules 1, 2, and 3 are all in Spanish. All four forms can be downloaded from the IRS website.
If you wish to receive written communications from the IRS in a language other than English, download the IRS Schedule…
Last year, individuals who filed Schedule 1 with their 2019 returns had to answer whether they had received, sold, sent, exchanged or acquired any financial interest in virtual currency. That question has been moved to the front page of the 1040 for 2020 tax returns.
IRS also clarified that you need NOT answer "yes" if all…
Meal expenses
While not reflected on 2020 returns, some taxpayers will be happy that the three-martini lunch is back. A 100 percent business deduction (rather than the current 50 percent) is allowed for business meals as long as…
The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when…
Don’t Fake Income or Expenses
Some people falsely increase the income they report to the IRS. This scam involves inflating or including income on a tax return that was never…
We are finishing our 3rd Quarter CY 2020. Too much cash ... Not enough cash. Sounds like a normal day. In reality, you should be addressing your income, costs, purchases, and cash on hand so that when 31 December comes (and it will come fast), you are in the right mindset with your financials for…
