Frequent Flyer Miles – Taxable or Not?
As if the pain of flying today was not enough, now we can add the pain of trying to determine whether receiving frequent flyer miles is a taxable event or not. Most of us who fly frequently are excited to receive miles either for flights we take or purchases we make on our airline credit [...]
New 1099 Reporting Requirement
Here is a little tidbit that could be a huge problem for your business: beginning with the 2011 tax returns, you are required to disclose whether or not you are required to issue 1099 forms to independent contractors. Declaring that you are not required to, if in fact you are, is perjury. Not only will [...]
