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:…
In these challenging times, every penny saved counts when it comes to your taxes. 90% of business owners overpay their taxes because they are unaware of how much they can write off on their taxes. In fact, most business owners…
Navigating the U.S. tax landscape, with its varying rates across locations, can be overwhelming for entrepreneurs. For instance, moving your base from Austin, Texas, to Chicago, Illinois, means adapting to new tax rates. However, this complexity presents advantages for savvy…
As a business owner, expanding your business globally can be a rewarding venture. However, while living the expat life might seem exciting, repatriating your foreign earnings and doing expat taxes just sucks out the excitement. If you own a business…
The Rockefellers may be one of the wealthiest families to use trust to pass on and protect their wealth, but despite what you’ve been led to believe, trusts aren’t only for the ultra-wealthy. If you are curious about how trust…
As we bid farewell to 2023, it's crucial to shift our focus to the upcoming changes in 2024, especially in the world of taxes. The IRS has unveiled new tax brackets for 2024, a more significant development than you might…
“I don’t have to report my income to the IRS.” This right here is one of the many tax myths that have landed independent contractors and small businesses in trouble. If you think you don’t have to report your income,…
The term "clean vehicle credit" refers to a suite of federal tax incentives and credits in the United States designed to promote the purchase of environmentally friendly vehicles. These incentives aim to motivate both consumers and businesses to embrace transportation…
Picture this- Jack is on a search for a “tax consultant near me.” Why? Jack got a call from the IRS telling him that he owed $ 5,000 in back taxes and that he needed to wire the money to…
Did you know that reports suggest Americans spend more than $108 BILLION in 2022 alone on lottery tickets? And no, you didn’t read that wrong; it is a billion with a B. For perspective, The Bahamas had an estimated Gross…
Hello Swifties! Hey Behives, if you can’t get enough of Blue killing it on stage every time and Mrs Carter's powerful presence on stage, you’re not alone. We’re sure that finally seeing Taylor Swift perform live on the Eras Tour…
If there’s anything every independent contractor or freelancer filing 1099s in America wants to know right now, it’s the cheat code to pay lesser taxes. If there were a magic wand you could weave to make the IRS forget all…
If you think you know all about the Inflation Reduction Act and all it comes with, this one might surprise you. Have you heard of the Corporate Alternative Minimum Tax (CAMT)? The CAMT is a tax on the adjusted financial…