There are many noteworthy tax changes and updates that will impact both individual taxpayers and businesses alike in 2023. Bonus Depreciation First-year bonus depreciation isn’t as valuable in 2023 as it was for the past few years. For 2022, businesses were able to deduct the full cost of new … [Read more...] about Tax Changes Ahead for 2023
1099-K
Deferral of Form 1099-K Requirement
What is a Form 1099-K? This is an IRS tax form that summarizes transactions made by third-party settlement organizations. These companies are typically payment processors such as credit card companies, PayPal, Venmo, or Square. You may receive a Form 1099-K if your business processes a significant … [Read more...] about Deferral of Form 1099-K Requirement