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Taxation

July 19, 2023
What is the 1099 NEC Form-How to file a 1099 NEC

What Is The 1099 NEC Form? How To File a 1099 NEC?

The 1099-NEC form is an information return to report payments made to non-employees or independent contractors. The acronym “NEC” stands for “Nonemployee Compensation.” Before the 2020 […]
July 11, 2023
Pros and Cons of Outsourced Tax Preparation Services

Pros And Cons Of Outsourced Tax Preparation Services

Outsourced tax preparation services refer to a professional services or software program that assists individuals or businesses in preparing and filing their tax returns. Tax preparation […]
June 28, 2023
What is the IRS Fresh Start Program

What Is The IRS Fresh Start Program?

What is the IRS Fresh Start Program?  Regarding taxes, it’s common for people to catch up on their payments. The reasons for this can vary, but […]
June 26, 2023
What is FUTA

What Is FUTA And How Does It Impact Your Business In 2023

What is FUTA?     FUTA is a federal law that requires employers to pay unemployment taxes to support the federal-state unemployment insurance program. The program provides temporary […]
June 23, 2023
what is QBI deduction

What Is The QBI Tax Deduction, And Who Can Claim It?

What is the qualified business income deduction?   The qualified business income (QBI) deduction is a tax deduction for individuals who own and operate certain types of […]
June 15, 2023
Tax Extension 2023- Step by Step Guide

Tax Extension 2023 – Step By Step Guide

Are you feeling anxious about not filing your taxes on time this year? You are not alone. Despite this being an annual occurrence, many people must […]
June 9, 2023
Schedule C tax form- Who can file and how to file for taxes

Schedule C Tax Form – Who Can File And How To File For Taxes

Starting a small business can be an exhilarating endeavor with opportunities and challenges. As you navigate the world of entrepreneurship, one crucial aspect you’ll encounter is […]
April 28, 2023
tax backup withholding

What Is Backup Withholding Tax And Who Has To Pay It?

What is backup withholding tax?   Backup withholding is tax withholding that requires a payer to withhold a certain percentage of payment to a recipient and remit […]
April 5, 2023
employer tax liability

What Is Employer Tax Liability? Its Definition With Examples And Calculations

Employer tax liability refers to the legal responsibility of an employer to pay various taxes on behalf of their employees to the government. These taxes are […]