The tax season for the year is almost over, but there's always going to be another tax season. Are you prepared for the next tax season? Whether you are a taxpayer or a tax preparer, the best way to prepare…
Imagine paying more taxes because you've been misinformed. It's stressful enough that you have to figure out your tax bills and send out your hard-earned money to the IRS every year as a small business owner. Adding this to the…
The tax season is here, and you still haven’t figured out how to pay your taxes. If you have an outstanding tax bill, there are many options to explore when it comes to paying your taxes, including paying your taxes…
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,…
Every time we talk about tax, it’s always a thin line between equality, fairness, and affordability. As a certified tax planner, people ask us- Do I have to pay tax? Is paying more tax punishment for being wealthy and successful?…
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…
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. …