Can You Deduct Internet Expenses for Working Remotely on Your Taxes?
Understanding your employment situation is crucial for navigating the tax implications of remote work, particularly regarding potential deductions like internet costs. The increasing trend of remote work has transformed the traditional work environment. For many Americans, their work now relies heavily on an internet connection, leading to a mix of personal and professional expenses. This […]
Biden’s FY 2025 Budget Reiterates Push for Higher Corporate and Individual Taxes
On March 11, President Joe Biden presented his fiscal year 2025 budget to Congress, featuring tax increase proposals amounting to nearly $5 trillion targeting corporations and individuals earning over $400,000. Many elements of this proposal, like raising the corporate tax rate to 28% and a 25% minimum tax for high earners, have been part of […]
Managing 1099-MISC Forms in QuickBooks Online
Dealing with 1099-MISC forms can be a critical aspect of managing your finances in QuickBooks Online. These forms are essential for businesses that work with independent contractors and freelancers. In this article, we’ll guide you through the process of handling 1099-MISC forms in QuickBooks Online and introduce how Ledgerive’s services can assist in streamlining this […]
January 2024 Sees Surge in US Forex Market Deposits
The new year brought renewed vigor to the financial markets in the USA, with a noticeable upsurge in client deposits among the six largest FX brokers. The Commodity Futures Trading Commission (CFTC) reported that the total value of these deposits exceeded $529 million in January, marking a 2.5% increase from the $516 million recorded in […]
Biden’s State of the Union Commitment: Higher Taxes for Wealthy and Corporations
During his State of the Union address, President Joe Biden outlined his intentions to increase taxes on wealthy Americans and large corporations. This plan, which will be detailed in the upcoming fiscal 2025 budget proposal, aims to reduce the federal deficit by $3 trillion over the next decade. Additionally, it seeks to provide tax relief […]
2023 K-1 Tax Packages Now Available, Announces USA Compression Partners
USA Compression Partners, LP (NYSE: USAC), also known as USA Compression, has made an announcement today regarding the availability of its 2023 tax packages, which include the Schedule K-1. These packages are now accessible online at taxpackagesupport.com/usac. Additionally, USA Compression is set to initiate the mailing process of these tax packages to its unitholders within […]
Razor Group Successfully Acquires Perch, a Leading US Amazon Aggregator, and Launches Series D Funding
BERLIN and BOSTON, March 5, 2024 – In a significant development in the e-commerce sector, Razor Group GmbH (“Razor”) has announced the acquisition of Perch, a prominent Amazon aggregator in the United States. This move not only strengthens Razor’s standing as a global leader in the aggregation of online marketplace consumer brands but also marks […]
IRS Targets 125,000 High-Income Individuals for Unfiled Tax Returns
The IRS announced on Thursday that it is reinstating its non-filer enforcement program, targeting high-income individuals who haven’t filed tax returns. This initiative, dormant for several years due to budget cuts, has been revived thanks to the $80 billion funding from the 2022 Inflation Reduction Act. The program will initially focus on 125,000 cases dating […]
Over 20,000 Pandemic Tax Credit Refund Claims Denied by IRS
The Internal Revenue Service (IRS) is issuing over 20,000 rejection notices to taxpayers who improperly claimed a tax break introduced during the COVID-19 pandemic. This move is part of the agency’s efforts to address questionable claims related to the employee retention credit (ERC), a significant financial aid designed to help small businesses during the pandemic. […]
Key Deadlines for the 2024 Tax Season: Important Dates to Remember
The United States is currently in the midst of the 2023 tax season, with the Internal Revenue Service (IRS) processing a large volume of tax returns. It is estimated that over 128 million Americans will file their taxes before the set deadline. Understanding the complexity and often cumbersome nature of tax filing, the IRS provides […]