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2023 Last-Minute Year-End General Business Income Tax Deductions

2023 Last-Minute Year-End General Business Income Tax Deductions There’s nothing better than getting a tax refund from the IRS when tax season comes. Of course, there are many moving parts...

Processing New ERC Claims? What You Must Know About the IRS ERC Mess

The Employee Retention Credit (ERC) was an important tax credit available to specific employers. The program ended at the end of 2021, but employers can still claim it by filing...
Depreciation - What you need to know

Depreciation: From Beginning to Middle to End

If you have assets in business or rentals, depreciation is an essential concept to understand. However, it can be confusing for those who aren’t tax experts because of all the...
Corporate Advances

Corporate Advances to the Owner: Loans, Dividends, or Salary?

Understanding the finances of owning a business is critical to your success, as well as your avoidance of serious issues with the IRS. Such is the case with corporate advances....
Kiddie Tax

What Is the Kiddie Tax and How Can You Prevent It?

You might assume that if you have a child, they don’t need to file an income tax return. This isn’t entirely accurate. Even if the person is a minor, the...
Does your house cleaner factor into your home office deduction

Does Your House Cleaner Factor into Your Home Office Deduction?

Does Your House Cleaner Factor into Your Home Office Deduction? If you’re reading this right now, you likely have an office in your home and you know it qualifies for...
What To Know About 105-HRA Plans For Small Businesses

What You Need to Know About 105-HRA Plans for Small and Solo-Owned Businesses

In the past, we’ve talked a lot about common questions related to health insurance. One of the things we’ve covered in detail is the 105-HRA plan. This article is going...
Taxes and NFTs - Important Things To Understand

Taxes and NFTs: Important Things to Understand

NFTs (non-fungible tokens) are digital assets that people buy, sell, and trade. Lots of people have lost money on NFTs, while some lucky individuals have made decent money from them....
Small Business S-Corp Mistakes To Avoid

A Family Member S Corporation Health Insurance Mistake You Need to Avoid

If you own an S corporation, you know you are required to follow certain rules and regulations. However, there can be some confusion over certain aspects. Below, we’ll be discussing...