Use Schedule C to report all financial activity from your business. The form contains two basic sections: the money you received and the money you paid out in cost of the merchandise you sold or in ...

On March 3, 2021, the Small Business Administration (SBA), in conjunction with the U.S. Department of the Treasury, adopted an interim final rule (IFR) that: (1) allows individuals who file an IRS ...

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The 1040 Schedule C tax form is a required part of life for anyone who is the sole proprietor of a business. Those who spend their lives as salaried workers may never need to think about or use the ...

NEW YORK (Reuters) - While this year's taxapalooza is off to a slow start because of the earlier U.S. government shutdown, one thing already is clear: your refund might be a whole lot smaller than you ...

We all like for things to be simple. We gravitate towards words like easy, elementary and effortless. It all sounds so very… uncomplicated. Taxes, on the other hand, can be complicated. And as ...

The IRS recently released a draft of its new Form 1040 that every American taxpayer will use to file their 2018 tax returns early next year. And as expected, the new form is significantly different ...

In general, partners in a limited liability company file their taxes the same way they would if the business were a partnership. In fact, the Internal Revenue Service treats an LLC with multiple ...

A new Form 1040 tailored to taxpayers 65 and older is making its debut today. In mid July, the IRS released a draft form of the inaugural version of the 1040-SR, “U.S. Tax Return for Seniors.” 7 ...

Form 1040 2022 changes the crypto terminology from “virtual currency” to “digital assets”. The purpose of the change in terminology could be interpreted as a “head up” to taxpayers that the IRS is ...