The Treasury Department and IRS are extending the due date for Federal income tax payments due April 15, 2020, to July 15, 2020, for payments due of up to $10 million for corporations and up to $1 million for individuals […]
Selling real estate requires realtors to be on the go all the time. It’s difficult to keep any kind of records under those circumstances, but there are some things you can do. Here are some steps you can take for […]
Real estate agents are independent contractors. But, what about their staff and team members? One of the first tests the IRS uses to determine independent contractor status is whether the job is part- or full-time. Full-time will automatically be assumed […]
Once you get tired of paying estimated tax penalties in April or even the following October, you may decide to start paying quarterly, estimated tax payments. The problem is that self-employed people do not have steady income, which is easily […]
According to the IRS, “The Taxpayer Certainty and Disaster Tax Relief Act of 2019 retroactively repealed Internal Revenue Code (IRC) Section 512(a)(7), which increased unrelated business taxable income (UBIT) by amounts paid or incurred for qualified transportation fringes.” What does […]