The Crucial Role of Issuing 1099s: A Comprehensive Guide
This can ultimately lead to lower taxable income for businesses, resulting in potential tax savings.
finances
Economic Nexus
In 2018, the Supreme Court overruled the previous ruling that states can only require sellers to collect tax when they have a physical presence in the state. Now, states can… Read More »Economic Nexus
Active or Passive? That is the question…
Income falls into three buckets Active Income (wages, business where the taxpayer is materially participating, etc.) Passive Income There are two kinds of passive activities. 1. Trade or business activities… Read More »Active or Passive? That is the question…