AN END-OF-YEAR GIFT FROM THE FEDS
Thursday, December 29
Remember when I emphasized the impending 1099-K reporting threshold was upon us? Well, last week, just before Christmas, the IRS announced a hold on that — until 2024 (at least). Whew! That means, for 2022 e-commerce transactions, the rule will revert back to the original $20,000 threshold (inste...
MORE Government Spending
Thursday, December 29
I don’t know about you, but after the holidays (and I hope yours were filled with good things and happy times with loved ones), I’m always a bit tapped out on the spending. But in true governmental fashion, Uncle Sam is piling it on. Seems like Congress missed the post-holiday “no spending” cue. ...
A CRACKDOWN YOU SHOULD KNOW ABOUT
Monday, December 19
The holidays are fully upon us, and I’ll have more to say along those lines next week. But, as is usually the case, there are many tax and regulatory things to handle before EOY (End of Year). One of these is something I have written about before, but there have been new … developments. I’m talki...
A GOOD ENDING TO A LONG RUN
Monday, December 19
The 2022 clock is almost at midnight. An end to a still somewhat crazy year — “the crazy” seems like our new normal, post-2020, am I right? There were a lot of challenges this year and they were … exhausting. Keeping up with the changes and adjusting to the economic pressures… well, these things ...
PUTTING YOUR TAX MESS BEHIND YOU
Monday, December 19
Huge federal tax debt can make you feel like you’re drowning with no life preserver. And keeping your head above water on your own without some help can spell doom. A good place to start is to send out an SOS to the IRS Independent Office of Appeals. Appeals operates independently from the IRS d...
ONLY 6-WEEKS LEFT BEFORE THE "RESET"
Tuesday, November 15
When I think about the holiday season, I think "calm before the storm." For "normal" small business owners, this season can mean all different kinds of crazy. (But hey -- we can still enjoy the smells, like turkeys roasting, cookies baking, and evergreen wreaths). And as you prepare to fill your ...