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IRS Form 1099-misc Due Date Approaching – Facts and Misconceptions

IRS Form 1099-misc Due Date Approaching - Facts and Misconceptions

IRS Form 1099-misc Due Date Approaching - Facts and Misconceptions. As many of us who hang our own shingle are painfully aware, IRS Form 1099-misc is due January 31st! I'm still shaking off the holidays. The failure to timely file

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Posted in 1099, Informational Return, IRS Enforcement

IRS Form 1099-misc Filing Requirements Defined as per IRC 6041

I was talking with a taxpayer the other day who registered as an LLC with Colorado Secretary of State. She developed an intriguing business model that is doing remarkably well according to the financial statement. As part of a tax

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Posted in Business Expense, Business Income, Cash, Cash Transaction, Employee Business Expense, Employment Tax, Entity Classification, FICA, Income, Independent Contractor, Payroll Tax Problems

Virtual Currency Tax Implications – IRS Notice 2014-21

The question of the moment is whether virtual currency is here to stay or simply a passing fad, the 8-track player of modern day finance.  IMHO the answer is probably a little of both. For sure private money is here

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Posted in Business Income, Capital Gain, Capital Loss, Self Employ, Virtual Currency
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