Fuel tax credits and IRS warning letters about frivolous filings
IRS warnings about fuel tax credits require urgent response as businesses must provide proof or risk costly penalties.
New Corporate Transparency Act deadline: What motorcoach businesses need to do
Businesses must file beneficial ownership details by March 21. Tracy Fickett explains what motorcoach companies need to do to avoid penalties.
How to know if you are eligible for a federal fuel tax credit on diesel
Not an exciting topic, but sure enough, not all new entrants into the motorcoach industry are aware of this federal tax benefit until they have…
Industry CPA Tracy Fickett says it’s time for a tax review
What is your company’s tax position for the 2022 tax year? This is a good time to talk to your tax preparer. Depending on the…
Tax tips: Getting compensation classification right
When it comes to compensation classification and taxes, it’s important to get it right.
Most passenger transportation companies compensate workers as employees. During COVID, it…
It is not too late to claim ERC for your business – what you need to know
IRS definition: A start-up recovery business is a business that started on or after Feb. 15, 2020.
Those businesses may still be eligible for employee…
Reporting PPP forgiveness for income taxes
With all this talk about forgiveness, you would think we all did something wrong. That is certainly not the case! Thankfully, most of you who…
IRS lowers 1099-K reporting threshold for Venmo, other apps
If your business receives funds through Venmo, Cash App, PayPal or similar payment processors, you should be aware that the reporting requirements have been lowered.
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Everything you need to know about filing 1099s for your business
The New Year brings your business fresh opportunities. It also demands annual compliance and information reporting. January requires your accounting department to prepare a handful…
What to know about CERTS compliance reporting
The Treasury Department has issued some guidance on Coronavirus Economic Relief for Transportation Services (CERTS) reporting. The first report for how you spent CERTS funds…