Facts and Figures

  • Credit Card Reporting—Initially, the IRS imposed a separate reporting rule for business receipts from merchant credit card and debit cards, and third-party network payments, beginning in 2011. But then it postponed this requirement for 2011 returns, and now it says the rule will be completely eliminated. Thus, a small business will not have to deal with separate credit card reporting for the 2012 tax year.
  • Computer Spam—Computer spam can be a problem for both business and personal users. You may be able to reduce the amount of spam by employing mailbox filters, using alternate screen names for certain functions, keeping systems up-to-date or installing antivirus programs. But the best method may be the simplest of all: Ignore offensive spam and delete it as soon as it shows up in your mailbox.