Running a business is more than just monitoring and ordering inventory, managing employees and finding ways to stay competitive in the marketplace. It also takes knowledge of accounting principles and a sound grasp of the U.S. Tax Code.Indeed, one does not need to be...
The "gig economy" works in large part by employing independent contractors instead of employees in order to keep costs down. That has led to some headaches -- whether or not a worker is an employee or a contractor is a legal determination under the Fair Labor...
FBAR and FATCA violations are either willful or non-willful in nature. The penalties for inadvertent or non-willful violations are understandably lesser than those for willful non-compliance. The IRS punishes those who non-willfully violate FBAR filing mandates with...
Taxes are one of the many things on a long list of obligations a business owner must address. Although entrepreneurs balance many obligations, a failure to properly deal with Uncle Sam can result in serious ramifications.A business owner out of Nevada provides an...
In what seems to a recurring theme, a mass data release - this one known as the "Paradise Papers" - has disclosed the identities of high-profile users of offshore accounts. It is vitally important to note prior to discussing the content of the Paradise Papers that...
Many of us have, if we’re curious about a particular tax-related issue, consulted the IRS website (www.irs.gov), especially now as the tax year is winding down. We assume that since the content on the site is put out and endorsed by a government agency, it is...
The final stretch to the end of the year is upon us. There are important decisions to make between now and December 31, about such issues as insurance coverage and health savings accounts for 2018, for example. It’s also the time to handle last-minute tax issues...
