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Crash Course in Taxes for Schedule C Businesses: Car Expenses

If you don’t feel like wading through zillions of pages of IRS material in hopes of discovering information that will help you understand how to deduct your car expenses, you’re in luck.
Here’s a special report that spells out the basic definitions, methods of calculation, restrictions, reporting, and record keeping requirements.
It’s for business owners who operate [...]

Solo Business Owners: Beware of IRS Focus on Schedule C

The IRS is planning to focus a lot more on the Schedule Cs that are filed with taxpayers’ 1040s this year because they think that’s a major source of the tax gap. That’s the difference between what the IRS thinks taxpayers should be paying in Federal income taxes and the amount that taxpayers actually [...]