"Information is the resolution of uncertainty."

Here are ten questions that small business owners can ask themselves to help determine the type of accounting they need:

What is Tax Basis? For tax purposes, the term "basis" describes the monetary value utilized to determine a gain or loss.

When the individual production activity of a partner is outside his/her capacity as a member of the partnership, the partnership has 2 options:

1. Designate the production income to the partner, and have the partner treat the expenses as unreimbursed partner expenses (UPE).
2. Manage the partner as a 1099 independent contractor for the individual production.

It's all too simple to use your incomes as quickly as they come in, however due to the fact that you do not have a regular income or have your taxes automatically withheld, you require to be responsible and systematic in your approach to your income.

Congress considers our tax system a "pay-as-you-earn" system. To facilitate that principle, the federal government has actually provided a number of ways of helping taxpayers in meeting the "pay-as-you-earn" requirement.

Here are five things that happened this past month that affect your small business.

If you have owned, sold, gifted, made purchases with, or used cryptocurrency in business transactions, there are certain tax issues you need to know about.