The Pandemic Relief Bill signed by President Trump, in December 27, 2020, was intended to give tax relief to restaurants and to help stimulate the restaurant/hospitality industry. As originally interpreted, it did not benefit the owner-operator. Recent changes by the Internal Revenue Service has changed that and have greatly simplified the per diem deductions. In […]
Heavy Vehicle Use Tax (Form 2290)
May 23, 2019It is that time of year again! If you own and use a truck weighing 55,000 lbs. or more, you must pay a Heavy Vehicle Use Tax (HVUT) to the IRS. HVUT payments are due July 1st but no later than August 31st each year. Paying after August 31st will gain you penalties and interest assessed […]