The main question seems to be why we must include other business and personal income when we calculate gross receipts. Tax rules have almost always treated business income under common control as ...

IRS Form 1099-K could be in your future if you sold items via online marketplaces like eBay and Venmo. Here’s what you need ...

Tax-exempt organizations with a calendar year-end (December 31) must file a return or request an extension ... can file Form 990-N if their annual gross receipts are normally $50,000 or less.

As for receipts ... CPA. When tax filing time rolls around, you’ll report the amounts you’ve spent in various expense categories on your tax return. Any qualifying expense that doesn ...

Lower tax rate. Eight percent tax on gross sales/receipts and other nonoperating income after deductions for returns and cash discounts is lower compared to the graduated income tax rate which ...