www.irs.gov Everyone in business must keep records. Keeping good records is very important to your business, and if you keep good records throughout the year it can help reduce tax-time stress. Good records will help you do the following: Monitor Continue reading Keep good records throughout the year to reduce tax-time stress
www.irs.gov Sometimes, when the right opportunity presents itself, you may be able to pay for goods and services that you need or want by trading goods that you own, or providing a service that you can perform in return. An Continue reading Bartering or Trading? Each transaction is taxable to both parties
www.irs.gov You can get quick and reliable answers to your tax questions with the Interactive Tax Assistant on IRS.gov. The ITA tool is a tax law resource that takes you through a series of questions and provides you with answers to tax law questions. Continue reading Get more answers to your tax questions – use the Interactive Tax Assistant online tool
With the start of hurricane season, the Internal Revenue Service encourages individuals and businesses to safeguard themselves against natural disasters by taking a few simple steps.Create a backup set of recordsYou should keep a backup set of records in a Continue reading Prepare for natural disasters by safeguarding tax records
www.irs.gov When preparing your federal tax return, you have the option of either taking the standard deduction, or itemizing if you think you may have more qualified expenses than the standard deduction provides. The amount of the standard deduction depends Continue reading Do I benefit from itemizing or should I take the standard deduction?