Earned vs. Unearned Income: A Taxpayer’s Guide
We admit filing taxes can be a gruesome task for most people. You work all year round to earn your money, but you have to pay your taxes and tell the IRS how much you earned, too. The twist is…
We admit filing taxes can be a gruesome task for most people. You work all year round to earn your money, but you have to pay your taxes and tell the IRS how much you earned, too. The twist is…
Irrespective of the ups and downs we experience in life, only two things seem apparently inevitable: death and taxes. Want to know one thing that pulls these two together? It’s the federal estate tax. While the loss of our loved…
Do you ever wonder if giving your favorite nephew that shiny new car might attract more attention than just his admiration? Surprise! Uncle Sam loves gifts, too. And he is always in the corner with a calculator and a frown.…
Imagine walking into an all-you-can-eat buffet, but instead of food, you’re choosing between juicy Roth IRAs and flavorful Mutual Funds. Will you choose the Roth IRA, with its promises of tax-free growth, or the Mutual Fund, with its diverse portfolio…
Remember the days when a piggy bank and a lemonade stand were all you needed to save for college? Ah, the simpler times! Fast forward to 2024, and the cost of education is reaching stroke-inducing levels. It's like you have…
Taxes. This word sends shivers down the spine of even the most financially responsible individual. In the grand tapestry of taxation, where terms swirl around like the most tedious cocktail party chatter you’ve ever endured, two terms often pop up…
A shopper walks into a store with a ladder. Visibly surprised, the storekeeper asks, “What did you bring a ladder for?” The shopper responds, ‘The sales tax here is so high, I need this to reach it!” While this might…
Imagine this: you're walking down the street, whistling a happy tune, when you get an alert that your paycheck has landed. Excited, you open the app, ready to see all those zeros, but instead, your heart drops. Where's all the…
When it comes to managing taxes, having the right tax strategist can make a world of difference, especially if you're a business owner or entrepreneur facing complex financial situations. With so many options out there, how do you pick the…
Let’s imagine our good friend Stan, a savvy business owner with a knack for quirky adventures. Stan, like many of you, ventured into the world of rental properties. He quickly found out that while the income was nice, the tax…
Welcome to the ultimate professional showdown: Enrolled Agents (EAs) vs. Certified Public Accountants (CPAs). Who will claim the title of your tax-saving champion? Whether you're team EA or hold the CPA banner high, you're in for an enlightening and entertaining…
Running an e-commerce business might be a thrilling adventure, but understanding the world of sales tax can feel like stepping into an uncharted territory blindfolded. Whether you're launching your first online store or looking for ways to optimize an established…
You're signing off on a hefty tax payment, your hard-earned dollars flying out the window, and you can't help but wonder, "Who on Earth came up with this brilliant idea for businesses to pay corporate taxes?" Picture hopping into a…
On a scale from 1 to "the IRS never calls," submitting an Employee Retention Credit (ERC) claim without double-checking the IRS's seven warning signs is like inviting a dragon to do your paperwork. Sure, it sounds cool, but don’t be…
Did you know that since 2022, the IRS has audited about 4 out of every 1,000 tax returns? It might sound like a slight chance, only 0.4%, so you might think there's no need to worry. But think about this:…