by PSA CPA | Dec 1, 2024 |
Imagine you’re a business owner looking to purchase a dependable, heavy-duty vehicle for your company—perhaps a large truck or SUV. At the same time, you’re concerned about managing your business taxes effectively. Here’s the good news: the IRS Section 179 deduction...
by PSA CPA | Dec 1, 2024 |
Filing taxes is a fundamental responsibility for small business owners, one that demands thoughtful preparation to minimize liabilities and stay compliant. While owners focus on optimizing their tax savings through deductions, credits, and strategic financial...
by PSA CPA | Dec 1, 2024 |
On December 3, 2024, a federal court in Texas issued a nationwide injunction blocking the enforcement of the Corporate Transparency Act (CTA). The ruling came from the Eastern District of Texas in the case Texas Top Cop Shop, Inc., et al. v. Garland, et al. (Case No....
by PSA CPA | Dec 1, 2024 |
Pursuing higher education or professional development can expand your knowledge and career opportunities while providing significant tax advantages. The IRS offers two key tax credits for eligible educational expenses, including for students studying abroad. This...
by PSA CPA | Nov 1, 2024 |
Investing in assets like cryptocurrency, real estate, or stocks can be a strategic way to grow wealth, but it also carries risks. If your investments have taken a hit this tax year, there’s a silver lining: tax loss harvesting. This tax-saving strategy allows you to...
by PSA CPA | Nov 1, 2024 |
IRAs are designed to help individuals save for retirement, but what happens to these funds if the account owner passes away? When setting up an IRA, you have the option to designate a beneficiary who will inherit your IRA if you die. If you don’t assign a beneficiary,...
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