Where is your tax home? You may be surprised by the answer. As shown in a new case, Soboyede, TC Summary Opinion 2021-3, 1/26/21, it’s not always the place you consider your primary residence. According to the IRS, your “tax home” is the general area of your main workplace. This
The ongoing pandemic has made a significant impact across industries and professions, as organizations report losses in earnings, layoffs and implementation of long-term remote work procedures. Finance and accounting are no exception. Professionals in the field remain at the forefront of a financial crisis and continue to navigate industry changes. IMA’s
The infamous QuickBooks Error 6123, 0 starts when a user tries to restore the backup of the company file. The error appears out of the blue without any prior indications and interrupts QuickBooks company file operations. There are certain factors and technical glitches responsible for QuickBooks Desktop error 6123 that
This 10-course bundle is taught by a CPA. Free Book Preview Tax and Legal Playbook Get game-changing solutions to your small business questions. February 15, 2021 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them,
It is important to note that IRS Form 1099-NEC will not be included in the IRS 1099 Combined Federal/State Filing Program (CF/SF) going forward, though you may be used to the information you report being automatically forwarded to participating states. It is ultimately the reporting firm’s responsibility to file separately
It’s doesn’t matter if you’re a solo enrolled agent or a corporate accounting firm, every business struggles with the “raise your rates” question. Of course, you want to earn more. Then why is it so difficult? Because charging more feels risky. My clients share similar concerns. Nobody will pay those
Your accounting firm’s reputation is a shortcut between the initial attention and the sale. According to multiple studies, reputation “is the way in which stakeholders, who know little about an organization’s true intent, determine whether an organization is worthy of their trust.” There is a clear link between reputation and
Updating your QuickBooks Desktop application to the latest released version is always beneficial as it ensures better security and performance and you get all the latest features added to the application. Updating also ensures that you get rid of security flaws and any bugs in the application that sometimes causes
I receive queries from individuals about tax deductions for car expenses. These individuals use their cars for various reasons. Some possibilities: conduct business ventures; find out what’s going on at their rental properties or farm operations; do volunteer work on behalf of churches, schools and other kinds of charities; obtain
Subscription offers a temporary license to use QuickBooks desktop software, and in rare instances when QuickBooks can’t verify the subscription it gives an error message “QuickBooks subscription has lapsed”. Once you get the “QuickBooks subscription has lapsed” error message you will no longer be able to use QuickBooks and install