While all freelancers are technically business owners, not everyone considers them such. In some instances, freelancers who ...

Solo 401(k)” is a marketing term used for a 401(k) plan that is adopted by a sole proprietor or an incorporated business with no employees other ...

An LLC can invest other people’s money, but the process depends on how the LLC is structured and whether it complies with ...

On the most basic level, artists who may not earn much or any of their income from the sale of their artistic output need to prove to the IRS that they are professionals and not just dilettantes.

Partnerships should use an information return, called a Form 1065 ... along with their standard personal tax return. Unlike partnerships and sole proprietorships, corporations are required ...

Convicted Felon Admits to Defrauding COVID-19 Programs in Nevada and Arizona to Obtain Over $137,000 in Relief Benefits ...

Over the past few years, the IRS has been auditing significantly less than 1% of all tax returns filed by individuals. The ...

Union of India & Ors., the Gauhati High Court addressed the cancellation of the petitioner’s GST registration due to non-filing of returns for over six months. The petitioner, a sole proprietor ...

Back when mobile phones were a luxury and communication was a challenge, a crisis swept through our town, prompting my mother, a school proprietor, to swiftly gather me and my siblings into her trusty ...

ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be brought to tax. Hypothetical income cannot be taxed. Hence, appeal of ...

Discover the 7 best businesses to start in Washington in 2025. Explore profitable opportunities and industry trends to launch ...

As a sole proprietor, there is no legal separation between you and your business. Still, it's beneficial to separate your business and personal expenses to simplify your bookkeeping and taxes.