- Biden Administration Backs Off on Proposed Bank Transaction Threshold
- Tax-compliance rates in the United States are based, in large part, on how taxpayers accrue income. Those who receive income that is reported by a third-party source, such as wage earners, exhibit near-perfect compliance rates on their salaries – since the payer of the income also reports that income as a deduction, such as the employer deducting wages as a business expense and reporting the wages on a W-2, a copy of which goes to the IRS.
- Here’s What Happened in the World of Small Business in October 2021
- Staying up on current events and happenings is the best way to plan for the future. Check out our top five business happenings for October 2021.
- Video tip: A Possible End to Excess Wealth from Backdoor Roth IRA Conversions?
- A new legislation has been proposed that could limit the ability of high-income earners to take advantage of Roth IRA conversions.
- Understanding the Taxation of Cryptocurrency Transactions
- If you have purchased, owned, sold, gifted, made purchases with, or used cryptocurrency in business transactions, there are certain tax issues you need to know about. Unfortunately, there are some unanswered questions and little specific guidance offered by the IRS other than in Notice 2014-21 and Revenue Ruling 2019-24. This article includes the guidance from the Notice as well as general tax principles that apply.
- Record Expenses in QuickBooks Online and On Your Phone
- The money you spend to run your business must be recorded conscientiously for your taxes and reports. Here’s how to do it.
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