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Keeping meticulous records is the key to tax deductions and painless IRS audits
February 1, 2022
Categories: Business, Consulting, Tax, Tax Breaks, Tax Cuts, Tax Records
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS. Be aware that there’s no one way to keep business records. But there are strict rules when it comes to keeping
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Gig workers should understand their tax obligations
January 6, 2022
Categories: Business, Consulting, General, Record Retention, Tax, Tax Records
The number of people engaged in the “gig” or sharing economy has grown in recent years. In an August 2021 survey, the Pew Research Center found that 16% of Americans have earned money at some time through online gig platforms. This includes providing car rides, shopping for groceries, walking dogs, performing household tasks, running errands and making deliveries from a restaurant or store. There are tax consequences for the people who perform these jobs. Basically, if you receive