tax-planning Archives - Avocații Roman Zadoinov și Violeta Gașitoi

Home Office Expenses: Financial Accounting and U.S. Tax Treatment Guide.

Financial Accounting Treatment Recording and Classifying Home Office Expenses In financial accounting, home office costs incurred for business purposes are treated as ordinary business expenses, provided they are separable from personal expenses. A fundamental GAAP concept is the economic (separate) entity assumption, which means a business should only record expenses that pertain to its operations,ContinueContinue reading “Home Office Expenses: Financial Accounting and U.S. Tax Treatment Guide.”

Guide to 1099 Forms for U.S. Business Owners.

Forms 1099-NEC and 1099-MISC are key IRS documents for reporting payments to non-employees. If you hire independent contractors or pay certain vendors in the course of business, you may be required to issue them a Form 1099. This guide explains which vendors need a 1099, the payment thresholds and exceptions (e.g. corporations and PayPal payments),ContinueContinue reading “Guide to 1099 Forms for U.S. Business Owners.”