BUSINESSADVERTISER DISCLOSURE From the kind of expenses you can – and can’t – deduct to the right rewards card to use to pay for deductible expenses, here’s everything you should know. by Rebecca Lake March 9, 2020 see original article at Creditcards.com Summary Claiming deductions can save your business money on your tax return, but you…

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Apparently, the IRS is seeing a problem with small business owner form filing.  It has issued a reminder that we are passing along today.  A small business files either Form 944, annual tax return OR Form 941, quarterly tax return but NOT both.    Want more information?  Visit www.businesstaxprep.org to be connected to a tax professional…

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This time of the year is big for charitable contributions. PersonalTaxPrep.com just wants to remind you check before cheque. Before you contribute to that charity hoping for charitable contribution by the end of 2019, check the IRS’ list of tax exempt organizations.  IF you just want to give, fine, but if you were hoping for…

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We’re in the 4th quarter of 2019.  If that reminds you that you still need to get your donations made, you might want to check the list with the IRS.  This is International Charity Fraud Awareness Week (ICFAW).  Fake charities are one of the IRS’s worst tax scams for 2019.  These fake charities lure victims…

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If there is any better indicator that virtual currencies such as bit coin are here to stay, it is the IRS figuring out how to tax virtual currency.   The first step is to define virtual currency, and the next step is to track it. The IRS, in fact, has defined virtual currency. IRS Definition of…

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If you are a regular business traveler incurring expenses, This is your heads up that as of Oct1, there are new IRS per-diem rates in effect.  The daily business traveler expenses are broken into three categories: Special transportation industry meal and incidental expenses, or M&IE rates $66 for locations in the continental United States (CONUS)…

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