Employee vs Contractor – which is the right classification?

Employee vs Contractor – which is the right classification?

Employee vs Contractor – which is the right classification? As a business owner, you may be managing a few special projects that may require hiring an expert. Many situations, employers classify contractors as employees and vice versa without understanding the primary criteria that the Internal revenue service uses to distinguish employees vs independent contractors. So,Read more about Employee vs Contractor – which is the right classification?[…]

How to check your tax information online ?

How to check your tax information online ?

As a taxpayer, you may need to access your tax history and key information relating to the most recently filed taxes. Our below article outlines important information regarding accessing your online tax history from the IRS website. You can access online through IRS online access. The online access will provide you following important tax information onRead more about How to check your tax information online ?[…]

How meals and entertainment expenses will be taxed in 2018?

How meals and entertainment expenses will be taxed in 2018?

The Tax Cuts and Jobs act has newer rules for deducting business meals and entertainment expenses. According to prior 2017 tax law, most meals and entertainment expenses were 50% deductible for tax purposes. We have received many questions about how meals and entertainment expenses will be taxed and impact on your businesses. In general, mostRead more about How meals and entertainment expenses will be taxed in 2018?[…]

10 Business tax deductions not to miss this tax season (2017 tax year)

10 Business tax deductions not to miss this tax season (2017 tax year)

10 Business tax deductions not to miss this tax season   1)Business Startup expenses – Startup expenses that are up to $5,000 can qualify for a valid business deduction. This can be taken as a business deduction the same year. This covers legal and company formation fees paid in connection with creating/ acquiring another business. If costs exceed $5,000,Read more about 10 Business tax deductions not to miss this tax season (2017 tax year)[…]

Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns

Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns

Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns   Income tax refunds may be delayed for taxpayers who are claiming Earned Income Tax Credit ( EITC ) and the Additional Child Tax Credit ( ACTC ). By law, IRS cannot issue refunds claiming the Earned income tax creditRead more about Income tax refunds may get delayed until Mid-February for EITC and Child Tax Credit Returns[…]