by Innov8ive Marketing | Oct 3, 2022 | Uncategorized
Due to rising gas prices, the Internal Revenue Service (IRS) announced an increase in the standard mileage rate for business travel. As a result, small businesses that make use of the standard mile rates can deduct 62.5 cents per mile for business mileage. This is...
by Clark Boyd | Sep 28, 2022 | Uncategorized
What is the Student Loan Cancellation? Last month, President Biden laid out a plan to cancel up to $20,000 in federal student loan debt per borrower. Beneath this seemingly simple plan comes quite a few questions about how, exactly, it will work. Naturally, borrowers...
by Innov8ive Marketing | Sep 26, 2022 | Uncategorized
IRS declared independent contractors as employees: Can Section 530 help? Are you going through an IRS audit? Though we know that is bad but what happens if the IRS declares that many of your 1099 independent contractors are W-2 employees, now what?   Safe-harbor...
by Innov8ive Marketing | Sep 18, 2022 | Uncategorized
The IRS wants to know of any bitcoins or other cryptocurrencies you have. It will appear at the top of the first page of your Form 1040, below your address and name. The IRS wants to monitor crypto purchases and sales starting this year.  Anyone filing a tax return...
by Innov8ive Marketing | Sep 12, 2022 | Uncategorized
Case Study: Avoid common mistakes as a new business startup  Starting a new business can be an exciting and challenging experience. There are many things to consider when launching a new venture and making mistakes can be costly. There will be a lot we will be...
by Innov8ive Marketing | Sep 1, 2022 | Uncategorized
What is the difference in Independent Contractors VS Employees If you have found yourself asking why your boss has paid you as a 1099 independent contractor instead of a w-2 employee, look no further. There are various tax implications for individuals who receive...
