What’s the State and Local Taxes
What’s the State and Local Taxes Table of Contents Back to all Blogs As a business owner, it is crucial to be aware of the state and local tax concerns that can affect your operations. Understanding these issues can help you avoid penalties and unnecessary expenses while staying compliant with relevant tax laws. One common […]
Conservation Easement Tax Deduction and Recent Disputes with the IRS
Why Your Will Should Be a Trust: A Look into Tax Advantages Table of Contents Back to all Blogs The Conservation Easement Tax Deduction was introduced by the Internal Revenue Service (IRS) in 1976. The program provides landowners with tax benefits when they agree to protect their land from development and environmental degradation. However, this […]
Tax Debts and Travel Woes: Don’t Let IRS Collections Leave You Passport-less
Why Your Will Should Be a Trust: A Look into Tax Advantages Table of Contents Back to all Blogs Having trouble paying back taxes? Unfortunately, IRS Collections can have serious consequences that go far beyond just money. In extreme cases, if you owe a certain amount to the IRS, they may even decide to revoke […]
Pursuing An OIC
Pursuing An OIC Table of Contents Back to all Blogs Setting up an OIC with the IRS may seem daunting at first, but with a bit of research and preparation, it can be a manageable process. The Offer in Compromise (OIC) program allows taxpayers to settle their tax debt for less than the full amount […]
Got A Trust Fund Recovery Penalty Notice?
Got A Trust Fund Recovery Penalty Notice? Table of Contents Back to all Blogs Are you facing a trust fund recovery penalty? If yes, don’t panic. There are several steps you can take to resolve the issue and come out on the other side without feeling too much of a financial sting. The following are […]
Should You Withdraw Your ERC Claim?
Back to all Blogs Should You Withdraw Your ERC Claim? Table of Contents Are you a business owner who claimed the Employee Retention Credit (ERC) during the COVID-19 pandemic? If so, you may have received some important news from the IRS. On October 19, 2023, the IRS announced that individuals can withdraw their ERC claim, […]
Independent Contractor or Employee? New Rules Implemented on March 11, 2024
Independent Contractor or Employee? New Rules Implemented on March 11, 2024 Table of Contents Back to all Blogs The distinction between being classified as an independent contractor or an employee has always been a significant concern in the labor market. However, with the implementation of new rules on March 11, 2024, the landscape is set […]
Demystifying Tax Deadlines: Extensions are Not for Payments
Demystifying Tax Deadlines: Extensions are Not for Payments Table of Contents Back to all Blogs As tax season approaches, the urgency to get your financial house in order becomes palpable for many. Understanding the nuances of tax payments, including deadlines and extensions, can often feel like navigating a labyrinth. This is especially true when trying […]
Mimicking Google: The Full Deduction of Office Meals Explained
Mimicking Google: The Full Deduction of Office Meals Explained Table of Contents Back to all Blogs In today’s fast-paced business world, the ability to fully deduct the cost of office meals, similar to practices at Google and other tech giants, can provide significant financial advantages to companies of all sizes. Understanding how to leverage this […]
Why Your Will Should Be a Trust: A Look into Tax Advantages
Why Your Will Should Be a Trust: A Look into Tax Advantages Table of Contents Back to all Blogs When it comes to planning for the future and ensuring your assets are handled according to your wishes after you’re gone, most people think of writing a will. However, establishing a trust might be a more […]