Jasmine DiLucci

4 Biggest Mistakes You Can Make to Generate S-Corporate Double Taxation for Your Business.

In this video, I’m going to cover the 4 biggest mistakes you can make to generate S-Corp double taxation. And if you thought double taxation was reserved just for C-Corps, then you would be wrong. And if you formed or are thinking about forming an S-Corp because you assume it’s going to save you tax, […]

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What Happens If My 1099 Is Incorrect? Here’s How to Report It with the IRS

Although it shouldn’t happen in theory, we often see incorrectly issued 1099s. And with the increased 1099-K reporting coming up, we’re expecting to see many additional 1099s that are not correctly reported. For example, you may have received a 1099-K and 1099-NEC reporting the same income, or you may receive a 1099-K for personal reimbursements

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Quarterly Estimated Tax Payments for Business Owners: How Much Should You Pay?

Most business owners are familiar with the idea that the IRS has quarterly tax requirements, but we’re often asked about how much should be paid. Our answer is – it depends. Business owners are usually in different situations, and we have explained the three options that we see individuals choose: Option 1: Pay the minimum

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IRS FAQ: Does My Business Need to Issue any 1099-MISCs or 1099-NECs by January 31?

As a general rule, businesses that pay an individual or another business over $600 a year in cash, check, or other transfer (excluding credit card payments) should issue a 1099. There is a penalty per 1099 that is not correctly and timely issued. In recent years, the IRS has been more aggressive in pursuing these

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How to Keep the IRS Out of Your Life: The Secret is in Your IRS Transcripts

If you want to keep the IRS out of your life, especially if you have previously experienced an IRS audit or penalties and interest, IRS tax return transcripts can be an important tool. But if you don’t know how to read them and what they mean, then you could end up paying more than necessary

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