Tips on how to accurately track mileage for tax deductions, including methods and IRS requirements.
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Guidance on issuing 1099s for contractors paid via PayPal and understanding IRS reporting obligations.
How LLC owners should record personal paychecks for tax and accounting purposes, including salary vs. draw.
Tax filing tips for last-minute filers, including extensions, deductions, and avoiding common mistakes.
Maximizing business travel deductions, including what expenses qualify and tips for record-keeping.
Strategies for organizing business receipts and paperwork to streamline tax preparation and ensure accuracy.
Essential tasks for new business owners, including legal, financial, and operational steps to set a solid foundation.
Guidelines for accounting charitable donations, maximizing deductions while adhering to IRS regulations.
Understanding the threshold for reporting business income to the IRS and tax obligations for entrepreneurs.
Clarifying the deductibility of business clothing purchases and the IRS criteria for such expenses.