S Corps-The Quick Facts
Article: S Corps-The Quick Facts Category:1040 income tax, S Corps, Small Business Jessica I. Marschall, CPA January 7th, 2023 Businesses may choose S-Corp taxation on the date they start or may elect the tax treatment at a later date moving from a single member LLC or “Disregarded Entity”, or a partnership or multi-member LLC. An […]
Read MoreTax Notes From 2022 Tax Season
Article:Tax Notes from 2022 Tax Season Category: 1040 income tax, IRS, Small Business Jessica I. Marschall, CPA April 21st, 2023 The bulk of tax season 2022 is over. As a group, CPAs are exhaling and questioning our career choices. As a group, we are fading fast. The AICPA estimates that 75% of CPAs will retire […]
Read MoreOpening A Small Business-The Basic Steps
Article: Opening a Small Business-The Basic Steps Category: 1040 Income Tax, Small Business Opening a small business involves several steps to ensure you comply with tax regulations and reporting requirements. Here are the general steps to open a small business and handle tax-related matters: Here are the general steps to open a small business and […]
Read MoreThe IRS Revises 1099(K) guidelines
Article: The IRS Revises 1099(K) Guidelines Category: 1040 Income Tax, 1099K The IRS has lowered the threshold for 1099K Payment Card and Third-Party Network Transactions These include Payment Settlement Entities like: Venmo, Paypal, CashApp, eBay, Etsy, Uber, Lyft, and Task Rabbit What does this mean? The threshold was lowered from $20,000 to $600 for reporting […]
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