Trusts and estates – Filing an income tax return for the 2022 calendar year (Form 1041) and paying any tax, interest, and penalties due, if an automatic five-and-a-half-month extension was filed.
If you’re self-employed and use your car, SUV, or other vehicle for business, you can deduct certain business-related vehicle expenses.
A hobby is any activity that a person pursues because they enjoy it without intending to make a profit. When determining whether your activity is a business or hobby, consider the following nine factors
It shouldn’t take the thought of a natural disaster to make you think about always having a current backup of your QuickBooks information. Files get corrupted. Computers fail and become inaccessible.
If you enjoy collecting antiques and collectibles or investing in fine art, wine, or vintage cars, there may be a time when you’re ready to cash in and reap the financial rewards. But you need to be aware of the tax impact of selling collectibles.