President Joe Biden has finally signed the Inflation Reduction Act (IRA) of 2022 into law to reduce inflation. For some, it's the government's move to curb inflation, but it means more, from fighting climate change, providing support for solar energy,…
Still Haven't Gotten Your 2021 Tax Refund? Here's How You Can Check It The IRS shut down for several months in 2020, and since then, there's been a massive delay in processing tax refunds. Didn't your certified tax planner tell…
As a small business owner, one of the last things you want to do is fork over a large chunk of your hard-earned money to the government through taxes. However, by understanding which tax credits and deductions you're eligible for,…
With the rate of inflation reaching its highest in a decade with the stock market plummeting and the conflict in Ukraine raising fears of a prolonged recession CEOs of corporations are now discussing the possibility of a recession. A recession…
If you're writing checks for your preferred charities, specifically when you're retired and specifically when you've had a prosperous year with a high income, you might be eligible to lower the tax benefits that haven't been completely utilized. 1. Imagine…
Tax planning is more complex for business owners compared to an individual even though there are lots of tax planning ideas available for business owners. When we talk about business, a business may be a partnership, small corp, sole proprietorship,…
Your goal as an American taxpayer should go beyond avoiding trouble with the IRS or beating the filing deadline. Many taxpayers end up leaving money on the table out of fear of attracting the attention of the IRS, even after…
What's covered? Too many Americans overpay their taxes without knowing it. In this article, we take a look at simple tips, opportunities you can take advantage of to cut down on your taxes legally. Let’s dive in Here's one thing…
Bookkeeping services are necessary for businesses that aim to properly manage their financial records in areas of accounts flow, payroll management, internal audits, and tax needs. While many established businesses employ the services of a professional bookkeeper, a small business…
Many American taxpayers approach tax seasons with grim resignation. The task of tax filing has to be done, and you have to get it right. Knowing this, you begin to track down receipts, necessary forms, and documents to beat the…
Here’s a fact–cryptocurrency is still a relatively new innovation, and as such, regulations and policies around it are still in formative stages. The system of cryptocurrency, while bustling and full of potential, requires a lot of supporting systems to have…
Last year, the IRS made a few alterations to its policies and expectations due to the pandemic. A vivid example is the deadline extension, of which many people took advantage. However, the 2022 tax season is set for some rule…
In a move that aims to equip taxpayers and tax professionals with relevant knowledge, the IRS has released a ‘fact sheet’ that seeks to answer some of the most common questions for the 2021 Tax Year Earned Income Tax Credit. …
Paying off your student loans requires several considerations: the tax regulations that will apply to you. Some tax regulations can have an effect on student loan defaulters. Just as well, some valid tax breaks can provide some reduction in your…
Real estate investing has many financial benefits for the investor. Some of these benefits include getting additional income from rent, growing your wealth for the long term, and securing your future. But aside from these apparent benefits, a smart investor…