The Internal Revenue Service requires small-business owners to report the sale of all assets, regardless of the gain or loss on the sale. Business equipment, including vehicles and machinery, is ...

Can you deduct forfeited deposit earnst money on property that was to be used as rental property on Form 4797 as an ordinary loss? The taxpayer never went to settlement on the property. My thought was ...

Depending on the type of business you own, when you decide to sell your business, you might have to notify the Internal Revenue Service. In addition, you must also file your final payroll tax return, ...