Gambling. People try to hide it sometimes. Others wear winning like a badge of honor. But when you win more than a few hundred on the lottery or at the casino, the government knows. Form W2-G You will know… Read More »Gambling Winnings on Form W2-G
Why Would I Have to Send a 1099 to Someone? (Updated for January 2021) IF 1 – You have a business and business expenses AND 2 – One of your expenses is paying a person (or people) to do work… Read More »Everything You Want to Know About Form 1099
How do I deduct my credit card payments? This is a very common question in my office and not an easy concept. Taxation is not based on cash flow. What is Cash Flow? Cash flow is the immediate feeling… Read More »Why can’t I deduct my credit card payments?
I have been asked this question more than once by people not making money with their business. The short answer is ‘no’. Being a non-profit really has nothing to do with making money. Or taxes. Or profit. Or doing good… Read More »Am I a ‘Non-Profit’ because I don’t make any money?
