Deducting Business Expenses
What are the rules for deducting business expenses for your business? To be deductible, a business expense must be both ordinary and necessary for your trade or business.
Category: Tax compliance
2024 Quarterly Estimated Tax Payments
The second quarter estimated tax payment deadline is June 17, 2024. Taxpayers should remember this deadline to avoid falling behind on their taxes and facing possible underpayment penalties. Taxpayers should also remember that third quarter payments are due September 16, 2024, and the final estimated tax payment for tax year 2024 is due January 15, 2025.
What Triggers an IRS Business Audit
Are you concerned about the likelihood of your business being audited by the IRS? What does the IRS see as red flags? How can you avoid them?
2024 First Quarter Estimated Tax Payments
The first quarter estimated tax payment for tax year 2024 is due April 15. Estimated payments apply to self-employed individuals, retirees, investors, businesses, and corporations.
Business Tax Records
When operating an Arizona business, in addition to the industry, the services or products that you offer will affect the records you retain. What records does the IRS expect you to retain? How should you record and organize your business-related costs and revenue?
Proposed Regulations Reporting Digital Assets
As evidenced by recently issued proposed regulations, the IRS is increasingly scrutinizing digital assets.
Appealing an IRS Decision
You have the right as a taxpayer to appeal an IRS decision in an independent forum. Learn more about your rights regarding IRS decision appeals.