by Christine Pham | Feb 19, 2024 | ASC 740 & ASC 740-10, blog, Cannabis Tax, Corporate Tax Services, Entity Formation, Flow-Through Tax Services, Individual Tax, Life Sciences Tax, Technology Tax
Before 2020, taxpayers reported compensation for independent contractors on Form 1099-MISC (Box 7), but for tax years 2021 and beyond, companies must separately report such compensation on Form 1099-NEC. Form 1099-NEC Nonemployee Compensation Taxpayers will file... 
by Christine Pham | Mar 1, 2022 | Individual Tax, Uncategorized
Passed under the Families First Coronavirus Response Act (FFCRA), eligible self-employed individuals may claim a tax credit for sick or family leave taken between April 1, 2020 and March 31, 2021 or if taken between April 1, 2021 through September 30, 2021. Form 7202... 
by Christine Pham | Nov 30, 2021 | Uncategorized
In years past, charitable donations were only beneficial to individuals who itemized their deductions. To itemize, single or married filing separately and married filing jointly taxpayers’ deductions must exceed the standard deduction of $12,400 or $24,800,...