Is your income from your hobby taxable income?
Did you know that a taxpayer must report income on their tax return even it is made from a hobby? However, as a taxpayer, you must...
Charitable Contributions Tax Deduction
As we are about to end 2017, many people will donate to charities at this time due to the holiday season. As a taxpayer, you may benefit...
Accounting word of the Week
Our word of the week is Sales Discounts. A sales discount is when cash is given from the seller to the purchaser for early payment of the...
Accounting word of the Week
Today, we are looking at the word sales allowance. Sales allowance is a reduction in the selling price of goods because of a particular...
IRS Reduces Optional Standard Mileage Rate
The IRS just issued, an optional standard mileage rates, that are used to calculate the deductible costs of operating an automobile for...