Seasoned tax professionals still have to adjust to the basic idea that current period business interest expenses may have limited deductibility. The concept arose with the Tax Cuts and Jobs Act of 2017 and then was amended in the CARES Act as to taxable years beginning after December 31, 2018.
In many cases, a QuickBooks user might want to merge two QuickBooks company files into one, but unfortunately, the feature to merge two QuickBooks files into one is currently not available in QuickBooks. As each QuickBooks company file is distinct and varies from each other, it is not possible to
Every application requires a few crucial Windows components and applications to print any document. If you are getting an error while printing, your payroll tax forms and statements, then it might be because of the flaws in windows print components or improper set up QuickBooks Desktop app. A common printing
With QuickBooks, it is quite easy to manage business accounting, and as it is an accounting software, there is always a possibility of getting errors. Most of the QuickBooks errors are related to the company file, and one such error that we are going to discuss in this article is
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