The Internal Revenue Service (IRS) recently announced updates to its employee retention credit (ERC) program. The agency clarifies the updates are specifically for the first and second quarters of 2021. The credit, as noted in a recent publication in the Journal of...
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Business Tax
Business or hobby: Here’s how the IRS decides
From arts and crafts to sailing, woodcarving or horse breeding, we all have hobbies in which we enjoy. Some of these hobbies you can use to make a little extra money on the side, in addition to finding pleasure in the activity itself. Sometimes these hobbies can...
The link between taxes and nexus
In business, we are surrounded with buzzwords that might mean a lot to us, but outside of your industry, it could seem like you're speaking a foreign language. One word for you to consider today is "nexus." This term does not apply to one industry, but rather to any...