Due to the COVID-19 pandemic and other extenuating circumstances, more people than ever are freelancing. Whether you are part of the “gig” economy (Uber, Airbnb, etc.) or are working as a freelancer, you should be aware of the many tax implications of freelance work. Typically, you will receive a 1099-NEC (Non-Employee
The IRS announced (IR-2021-251, 12/17/21) that standard mileage rates are on the rise for the 2022 tax year. The increases are bigger than they’ve been in recent years, reflecting higher prices at the gas pumps. The recordkeeping requirements are, however, significantly less burdensome. The 2022 rates for vehicles, including passenger
Victims of this month’s weather in Illinois and Tennessee have until May 16 to file various federal individual and business returns and make tax payments. Following last week’s emergency declarations issued by the Federal Emergency Management Agency, the IRS is providing this relief — the same as was already provided
The Tax Court recently warned that although there are exceptions for when a traditional IRA can invest in gold, those that do best meet the requirements spelled out by the IRS. Basic rules: When you set up an IRA, the funds are handled by a custodian that oversees the investments. Typically,
One of the most common errors QuickBooks POS users encounter while utilizing QB Point of Sale is QuickBooks Error 176109. This error usually occurs when a user tries to register or open POS. It displays an error message “Invalid Product Code / Invalid Product Number” on the user’s computer screen.
Because payroll and HR providers offer such a wide range of services, you can now choose a solution provider that not only takes the friction out of the process, but also fulfills your clients’ needs. Today, firms have more choices when it comes to payroll with four basic models—outsourcing, in-house,
For many people, the COVID-19 pandemic has been a wakeup call. Few people have said at the end of their lives, “I wish I spent more time at the office.” You may have clients who are wondering whether they can retire early. You may have others who are in great
QuickBooks company file stores all the financial data of a business and provides the user with an easy option to access all the business information in one single place. QuickBooks users sometimes face issues while opening or creating a new company file. 6000 series of errors in QuickBooks is related
Accounting Today is in the midst of compiling its annual lists of the Top 100 Firms and Regional Leaders, and we’re looking for more top-notch accounting firms to include. The two prestigious lists rank the top firms by revenue — both nationwide and in specific regions of the country —
Emmanuel Faber was appointed chair of the International Sustainability Standards Board by the IFRS Foundation, effective Jan. 1, 2022. His appointment follows the announcement made at the 2021 United Nations Climate Change Conference (COP26) in November of the creation of the ISSB as a consolidation of the Climate Disclosure Standards
