Mattress Firm, which has been grappling with declining sales amid an overexpansion and a scandal at its parent company, filed for Chapter 11 bankruptcy protection Friday. The Houston-based retailer has been ailing amid a surge of bed-in-a-box online retailers, too many physical stores and an accounting mess at its parent company, Steinhoff International. Mattress Firm plans to close… Read More

What are common mistakes businesses make when it comes to accounting? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world. Answer by Gary Hecht, Associate Professor at the University of Illinois at Urbana–Champaign, on Quora: One big mistake businesses make when it comes to accounting has to do… Read More

Choosing a business structure for your company is something you shouldn’t take lightly. Because the decision will impact you legally and financially, it’s important to enlist the expertise of an attorney and tax advisor to help you understand the pros and cons of each option. The Difference Between an LLC and S Corp As new entrepreneurs… Read More

The company says it incorrectly calculated how much its commission should have been on rides in New York City over the past two and a half years, according to The Wall Street Journal. Uber’s rocky relationship with its drivers has resulted in the company offering olive branches and occasional compensation, and that pattern continues with a colossal error… Read More

Houston, Texas – With over 260 million licensed drivers in the US, it’s no wonder this startup is taking off and saving people money, for free!  Are you aware that you could receive a large discount by using this new startup’s service? In addition, if you live in certain zip codes, you may get extremely… Read More

Senators Rob Portman, R-Ohio, and Ben Cardin, D-Md., introduced bipartisan legislation Thursday to make the Internal Revenue Service more accountable to taxpayers, as well as revive the IRS’s regulation of tax preparers, as a panel of tax experts testified before their subcommittee about improving tax administration at the IRS. The Protecting Taxpayers Act aims to… Read More

The Tenth Circuit had bad news for most of the state legal pot industry in its recent decision-Alpenglow Botanicals LLC. Some of the service providers to the industry might not be that disappointed, though. That is probably a reflection of Reilly’s Third Law of Tax Practice – Any reasonably complex tax matter involving significant dollars,… Read More

WASHINGTON (SBG) – The Internal Revenue Service is on a mission to collect hundreds of billions of dollars owed in back taxes from delinquent taxpayers and is now enlisting other government agencies to help. How much is still owed by U.S. taxpayers? The IRS says $458 billion. If you’re among them and haven’t started a… Read More

The hallmark of the Tax Cuts and Jobs Act of 2017 (TCJA) was supposed to be its simplicity. By eliminating the personal exemption amounts and doubling the standard deduction, the theory was that taxpayers would have a tax return that was so simple that it could fit onto a postcard. In the weeks and months… Read More

Some taxpayers may owe the IRS more than they expect next April, after changes were made to individuals’ tax liabilities via the Tax Cuts and Jobs Act last year. According to a simulation conducted by the Government Accountability Office (GAO), which reviewed the revised federal tax withholding tables for 2018 implemented by the IRS and… Read More