Tax-Saving Tips – July 2024
July 2024 Claim Up to $32,220 in Missed 2021 Self-Employed COVID-19 Sick and Family Leave Credits Today Were you self-employed during 2021? If so, there is a good chance tha
Tax-Saving Tips – June 2024
June 2024 Cost Segregation: Is This Strategy for You? One significant tax benefit of owning residential rental property or non-residential commercial or investment property is depr
Tax-Saving Tips – May 2024
May 2024 Protect Yourself from Costly Payroll Fraud When you own and operate a business, you must exercise vigilant oversight, including watching over your payroll taxes. Here’s
Tax-Saving Tips – April 2024
April 2024 Turn Your Vacation—Even a Luxurious One—into Tax-Deductible Business Travel Here’s an idea: how about transforming your next vacation into business travel? With ca
IRAs for Young Adults
IRAs for Young Adults As we navigate the complexities of financial planning, one opportunity stands out for young adults: individual retirement accounts (IRAs). With the 2023 tax-y
Estimated Tax Penalties
Estimated Tax Penalties The United States has a “pay as you go” tax system in which payments for income tax (and, where applicable, Social Security and Medicare taxes) must be
Corporate Transparency Act Requires BOI Reporting to FinCEN
Corporate Transparency Act Requires BOI Reporting to FinCEN The Corporate Transparency Act (CTA) is upon us. It took effect on January 1, 2024, and imposes a new federal filing req
New FinCEN Filings Go into Effect on January 1
New FinCEN Filings Go into Effect on January 1 For existing businesses, the Corporate Transparency Act (CTA) goes into effect on January 1, 2024, and imposes a brand-new federal fi
Last Minute Strategies
Last-Minute Year-End General Business Income Tax Deductions The purpose of this article is to reveal how you can get the IRS to owe you money. Of course, the IRS will not likely cu
Donations, Deductions, and the Augusta Rule
Donating Clothing to Goodwill and the Salvation Army As the year comes to a close, many taxpayers consider making clothing and household item donations both to give back and to