Happenings Inside the IRS Under the New Administration

Last week in Denver, Colorado the IRS quietly paraded out some of their race horses to share what is happening under the new administration. With Steven Mnuchin‘s most recent confirmation as Treasury Secretary¬†and Commissioner Koskinen’s days numbered, a sense of being rudderless was anticipated. Knowing that a hiring freeze and location consolidation are adversely impacting…

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IRS Form 1040 Schedule C: Profit or Loss from Business

The sole proprietorship or Limited Liability Corporation (LLC) is in my opinion the easiest type of business entity to set up and begin operating from an income tax reporting perspective. It is¬†not separate from its owner with the income and expenses reported on IRS Form 1040 Schedule C. Some people have instant success with a…

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