Business and Tax News
Head of Household Taxes
One effective strategy to lower your tax bill is to file your taxes as Head of Household (HOH), particularly if you are a single parent or support...
How Can I Protect My Inheritance From Taxes?
Do I have to report my inheritance on my tax return? Generally speaking, you are not required to record any inheritance to the IRS. The federal...
Tax Implications of Owning Rental Property
One form of revenue that affects your tax return is rental property ownership. In order to help you optimize the tax benefits and develop a plan to...
Is Canceled Debt Taxable?
It's great news if a creditor forgives your debt, isn't it? Such a cancellation of debt typically occurs when the statute of limitations on...
Crypto Staking Taxes for 2024
What is crypto staking? Staking is the process by which cryptocurrency holders participate in the validation of blockchain transactions. Staking...
What Are Deferred Tax Assets and Deferred Tax Liabilities?
Standard accounting and tax accounting methods require different methods. If you are expecting to receive a payment, you may be required to pay...
6 Big Tax Mistakes Small Business Owners Make
The way you manage your taxes and record-keeping can have a significant impact on your performance as a small business owner. Look out for these...
Understanding Your Withholding Allowance on Your Form W-4
If you've filed your taxes, you may be wondering what to anticipate and what steps you need to take next. One of the most important steps you can do...
Guide to Social Security Taxes
Social Security benefits, which offer a safety net to guarantee financial stability throughout your golden years, are essential to the retirement...
Why You Should Hire a CPA for your Small Business
Every small business owner eventually becomes concerned about their company's tax ramifications, as well as the need to manage accounting and other...
Tax Deductions for Independent Business Consultants
As a self-employed business consultant, you probably assume a variety of positions and titles. Your clients count on your industry knowledge to...
How to Go About Filing an Amended Return
Let's say you submitted your tax return by the deadline, but in June you discovered you neglected to include revenue from a freelancing job last...
How to Itemize Taxes When Claiming Dependents
Claiming dependents and itemizing deductions is an efficient approach to reducing your income taxes. Each dependent you claim reduces your taxable...
The Educator Expense Tax Deduction
The main tax relief for teachers is the Educator Expense Deduction. To qualify for the Educator Expense Deduction in any given year, you must...
Tax Credits for Parents: What You Need to Know
Raising a child can of course be expensive, including the cost of child care, basic living expenses, and college tuition, and these prices are...
Are Political Contributions Tax Deductible?
When election season arrives, it may appear like news and commercials regarding political campaigns, candidates, and elections are ubiquitous. If...
Changes You Can Make Now to Prepare for Next Tax Season
Let's all breathe a collective sigh of relief now that this year's tax return has been filed. But now that this year's filing is done, what might...
How Your Summer Plans Could Impact Next Year’s Tax Return
Let's be honest - tax preparation isn't at the top of anyone's summer to-do list. But consider this! When planning fun summer activities or making...