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. …
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…
If you are a high-income earner in the US, you surely understand the burden of heavy taxes that comes with high-income earnings, and you have probably been looking for tax-saving strategies for high-income earners. As a high-income earner, your tax…
From life insurance to health coverage, parking fees, meals, transit passes, flexible spending accounts, and employer-provided cell phones – you’re getting one employer-provided fringe benefit or another from your job. However, it would interest you to know that some of…
Shauna A. Wekherlien, CPA had the privilege of contributing this article for Today's Practitioner! Be sure to head over to their site and show them some love! Tax Advice for Physicians In the United States of America, physicians are paid…
How the New American Rescue Plan 2021 Can Help You The economic devastation due to the COVID crisis is continuing to hit several families throughout the country. The American Rescue Plan was recently signed into law by President Biden in…
Tax Goddess hosted Heather Ballard, an expert in Customer Service on Fireside chat Episode one podcast. Heather shared tips on how to consistently delight clients every time you speak What is the most important thing that our audience is going…
There're a lot of people that call themselves real estate professionals, but in the eyes of IRS, there're some very specific things that you need to do and have in your background to be a real estate professional. One of…
There is an amazing Arizona State tax credit. So listen up S corporations out there; if your individual shareholders and your owners are paying in tax to the State of Arizona or if you're here in Arizona paying in more…