With recent changes to 26 U.S. Code § 6050W lowering the threshold for transaction reporting requirements from $20,000 to $600 for...

The law requires that trades and businesses (such as auctioneers) report cash payments of more than $10,000 to the federal government by...

Terry Mangum said something similar and he’s exactly right: It is not worth what it won’t sell for. In other words, a piano listed...

As can be seen in IRS Publication 526: https://www.irs.gov/pub/irs-pdf/p526.pdf, the “value of your time or services” is not deductible....

The questions/issues we’ve received/addressed involve basically two areas — those pertinent to: Contributors to the 501(c)(3)...

As I frequently teach auctioneer continuing education, I am often asked about this particular issue, as well as more general 1099...