Business and Tax News
Tips For Avoiding Tax Scams
Tax season is here, which means spring is just around the corner. It's the time of year when we look forward to better weather and tax refunds, but...
Reminder! Jan 31 is the Deadline for Employers to file Wage Statements and Independent Contractor Forms
With tax season on the way, the IRS reminds businesses that the deadline for filing pay statements and paperwork for independent contractors to the...
What to Know about the Different types of 1099 Forms
As tax season approaches, keep an eye out in the mail for envelopes labeled "tax information." Among the numerous items they may include are several...
The Corporate Transparency Act: What You Need to Know
The Corporate Transparency Act (CTA) has gone into effect as of January 1, 2024, affecting millions of small businesses across the United States....
Choosing a reputable tax preparer is vital to tax security
As taxpayers prepare for tax filing season, it is critical that they choose tax return preparers that have the necessary skills, education, and...
What to Know About Tax Rates
A tax rate is the percentage (0-100%) of your income that is taxed. Taxes are amounts deducted from money that you own or earn. Income tax is the...
How to Avoid Bumping Your Income into a Higher Tax Bracket
If your income changes from yearly, you may find yourself spending more in taxes than you anticipated. This is due to the fact that when your income...
Electric Vehicle (EV) and Fuel Cell Electric Vehicle (FCEV) Tax Credit
Qualified EV and FCEV buyers can qualify for an excise tax credit of up to $3,000 beginning July 1, 2023. The tax credit is limited to one car per...
Is Your College Student’s Scholarship Taxable?
The typical cutoff for undergraduate students to commit to their college of choice is May 1, which means tuition payments are not far behind. Here’s...
Update on the Electric Vehicle Federal Tax Credit
As of Tuesday, April 18, the amount of electric cars (EVs) that are eligible for the full $7,500 federal tax credit will be significantly decreased...
Tax Considerations for Opening a New Location
Opening an additional location for a business is a significant choice that can have long-term consequences for your company. Finance executives have...
Tax Benefits of Donating Crypto
Donations to charity are more than just acts of kindness; they can also enable you to save money on your taxes. Donating cryptocurrencies that have...
Take Retirement Plan Distributions by December 31
For several years, IRS regulations prohibited people from keeping retirement assets in their retirement accounts for long stretches of time. When...
Taxes Implications of Working for Family
When a family member hires an individual, the tax consequences vary depending on the connection to that family member, and the business type. It is...
What to Know About Paying Tax Bills with Your Credit Card
Those who owe taxes this year may be thinking if it’s a good idea to pay them with a credit card. This may appear to be a risky proposition, but...
Small Business Owner vs. Self-Employed: What’s the Difference?
There are several parallels between being self-employed and owning a small business. For instance, both empower you to be your own boss! However,...
Property Taxes: Do you have to pay them Forever?
If you own any form of property in the United States, the law requires you to pay a Property Tax on a regular basis. People frequently ask if this...
What to Do after Filing a Tax Extension
Now that the initial tax deadline has passed, If you did not complete your tax return, you ought to have submitted Form 4868, Application for...