Beverscpa.com
Comprehensive List of Business Expenses and Tax Deductions
WEBThe easiest and most common method is to use the standard mileage deduction allowed by the IRS for the total number of business miles driven in a year ($0.575/ mile in 2020 and $0.58/mile in 2019). The second method is to deduct a percentage of your actual total auto expenses (gas, oil, repairs, depreciation, insurance, …
Actived: 9 days ago
URL: https://www.beverscpa.com/blog/comprehensive-list-of-business-expenses-and-tax-deductions
Confused by Form 1099
WEBEffective for tax year 2020, the IRS decided to make 1099’s even more fun by splitting them into two forms - 1099-MISC and 1099-NEC. The new 1099-NEC is for reporting Non-Employee Compensation (NEC). In general, these are the amounts paid for services provided by independent contractors, and they
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