Here are some ways your tribe can avoid IRS penalties related to employment taxes. This is especially important when you hire new employees and file tax returns. There are four main things to consider: identification numbers, timeliness, accuracy, and resources for help. First, be sure to get valid Taxpayer ID numbers from all employees and vendors [...]
This article was published by the IRS. The Internal Revenue Service is encouraging taxpayers to take important actions this month to help them file their 2022 federal tax returns. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A "Get Ready" page outlines steps taxpayers [...]
This article was published by the IRS. The Internal Revenue Service is reminding IRA owners age 70½ or over of their option to transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end [...]
This article was published by the IRS. It's important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income. Here are some key things homeowners should consider when selling a home: Ownership [...]
This article was published by the IRS. Depreciation is an annual tax deduction that allows small businesses to recover the cost or other basis of certain property over the time they use the property. It is an allowance for the wear and tear, deterioration, or obsolescence of the property. Small businesses can depreciate property when they [...]
