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Taxation

February 21, 2023
irs mileage rate 2023

Tax Season 2023: Understanding Standard IRS Mileage Rates

Taxpayers can maximize their returns in multiple ways. There are numerous tax credits and deductions, like the IRS Mileage Rate 2023, to help ease the tax […]
December 16, 2022
W-9 tax form

What Is A W-9 Tax Form And How Is It Used?

A W-9 tax form, in a nutshell, is a form that is used by a person to report a certain kind of taxable income. This form […]
December 15, 2022
IRS Form 720

A Guide To IRS Form 720

Are you a small business dealing in goods and services which are subjected to excise tax, like fishing equipment, gasoline, or air transportation? If the answer […]
December 8, 2022
Cost Recovery Method

What Is A Cost Recovery Method

Cost recovery plays a crucial role when it comes to defining a business’s taxable income, and it can impact the decisions related to investment. To understand […]
December 7, 2022
Assets Depreciated

What Does IRS Say About Depreciable & Non-Depreciable Assets

Depreciation is a devaluation of an asset over a period of time. Your tangible assets like equipment, vehicles, building, furniture, and machinery are all examples of […]
December 1, 2022
Tax Invoices

A Simplified Guide To What Is Tax Invoice, Its Key Elements & Purpose

A tax invoice is a vital piece of evidence that a seller gave services or goods to a buyer. A customer can demand a tax invoice […]
November 20, 2022

How Much Does An Average American Taxpayer Pay?

As per Self Financial, a financial technology company, Americans pay on average $525,037 each in taxes over a lifetime? Out of which about 65% is the […]
November 10, 2022
double declining balance depreciation

A Simple Guide To Double Declining Balance Depreciation Method

Double declining balance depreciation – an easy way to save money with regard to your business expenses. The double declining balance method helps your asset’s value depreciate less […]
October 21, 2022
California State Taxes

California State Taxes – A Complete Guide For Small Business Owners

California houses about 4 million small businesses, which ultimately employ over 7 million people. Small enterprises have taken over the State of California, making up about […]