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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

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Posted in IRS Appeal, IRS Audit, IRS Audit Technique Guide for the Entertainment Industry, IRS Centralized Insolvency, IRS Collections, IRS Criminal Enforcement, IRS Enforcement, IRS Examination, IRS Form 1040 Schedule C, IRS Levy, IRS Lien, IRS Master File, IRS Mediation, IRS Notice, IRS Penalties, IRS Penalty and Interest Abatement, IRS Research, IRS Rev. Proc, IRS Transcript

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

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Posted in Accounting Method, Business Expense, Business Income, Car expense, Depreciation, Disallowed Expenses, Employee Business Expense, Entity Classification, FICA, Health Insurance, Hobby, Home Office, Husband/Wife, IRS Form 1040 Schedule C, Medicare, Net Operating Loss, NOL, Passive Activity, Self Employ, Small Business, Social Security, Social Security Tax, Sole Proprietor, Start up costs, Sub-chapter S, Tax Guidance & Preparation, Tax Problems & Requests
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