Tax Resources for Accountants and Small Businesses (U.S.)
The Fair Labor Standards Act (FLSA) is a cornerstone of U.S. labor law that establishes nationwide rules on minimum wage, overtime pay, recordkeeping, and child labor. It was enacted in 1938 and is administered...
The Applicable Federal Rate (AFR) is updated every month by the Internal Revenue Service (IRS). For 2025, AFR levels reflect the continuing adjustment of federal interest rates in response to broader economic trends and...
The Fair Labor Standards Act (FLSA) continues to evolve. In 2024–2025, the U.S. Department of Labor (DOL) issued new regulations on overtime pay and salary thresholds for exempt employees, followed by significant court rulings...
This article explains the official Health Savings Account (HSA) and Flexible Spending Account (FSA) contribution limits for tax year 2025. All figures are based on official IRS publications and related government sources. Health Savings...
This article explains Form 1099-K using only official guidance from the Internal Revenue Service (IRS). It is designed for U.S. small businesses, online sellers, accountants, and platforms that process payments for goods and services....
Authority: U.S. Department of the Treasury – Financial Crimes Enforcement Network (FinCEN) Law: Corporate Transparency Act (CTA) Effective: January 1, 2024 (with amendments published March 21, 2025) What is BOI reporting Beneficial Ownership Information...
Authority: Internal Revenue Service (IRS), U.S. Department of the Treasury Official source: https://www.irs.gov/filing/e-file-information-returns Overview Beginning January 1, 2024, the Internal Revenue Service (IRS) requires that any person or business filing 10 or more information...
A complete overview of Wyoming sales and use tax rules for construction contractors, based on official guidance from the Wyoming Department of Revenue (DOR) and Wyoming Statutes Title 39. Introduction The construction industry in...
The cash conversion cycle (CCC) measures how long it takes for a business to turn the money invested in inventory and receivables into cash from sales. It is a practical indicator of working capital...
Article explains what does gross rate means in advertising and how to calculate it.
Based on official IRS publications and announcements (updated November 2025). Overview The One Big Beautiful Bill Act (OBBBA), enacted in 2025, introduced several tax provisions administered by the Internal Revenue Service (IRS). The Act...
If you receive a CP2100 or CP2100A Notice from the IRS, it means some of the name and taxpayer identification number (TIN) combinations on your Forms 1099 don’t match IRS or Social Security Administration...
Updated: October 30, 2025 Understanding the IRS Second B Notice When you issue Form 1099s to vendors or contractors, the IRS expects each payee’s name and taxpayer identification number (TIN) to match official records....
Introduction Receiving a letter from the IRS can be stressful, especially when it says “CP 2100 Notice” or “B Notice.”Don’t panic — this notice does not mean you are being audited or owe money.It...
Disaster Loan FAQs COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION All required documents listed in filing requirements must be returned. All forms requiring signature must be signed and dated. Incomplete applications will not be accepted....
A1. U.S. citizens and U.S. resident aliens will receive the Economic Impact Payment of $1,200 for individual or head of household filers, and $2,400 for married filing jointly if they are not a dependent...
Volunteer Income Tax Assistance (VITA) sites are open across the State to help individuals and families with an annual income of $50,000 or less prepare and file their income tax returns, free of charge,...
Paycheck Protection Program EIDL Loan Advance SBA Express Bridge Loans SBA Debt Relief More
Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per mile driven for business use, up 1.5 cents...
2023-2024 Special Per Diem Rates This annual notice provides the 2023-2024 special per diem rates for taxpayers touse in substantiating the amount of ordinary and necessary business expenses incurredwhile traveling away from home, specifically...