by PSACPA | Jul 28, 2025 |
As a business owner, staying compliant with ever-evolving tax regulations is critical—not only for avoiding penalties but also for optimizing your financial health. The IRS has introduced several new tax regulations this year, and understanding how they impact your...
by PSA CPA | May 1, 2023 |
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 tax must be paid on a continuous basis, until the property owner passes away. The brief response is that any property...
by PSA CPA | Jan 1, 2023 |
In general, revenue from renting a vacation house for 15 days or more has to be recorded on Schedule E, Supplemental Income and Loss, on your tax return. You should also be aware that the term “vacation home” does not always refer to a dwelling. The IRS considers...
It’s interesting to see how Social Security benefits are taxed differently depending on income and location. I didn’t realize only…