Payroll is one of the most important aspects of any business, but it’s one that, when running smoothly, business owners don’t tend to think about; however, when there’s a payroll glitch, it jumps to the forefront of an owner’s mind. Here are several payroll mistakes that can cost you a bundle and how to avoid […]
8 Ways to Get Ready for Tax Season and Avoid a Back Tax Problem
The holidays are here. Not to be a grinch but right around the corner is a less fondly anticipated time of year. Before you know it, you will be taking down the Christmas tree, pulling down the holiday lights and getting ready for the tax season to come. Tax season is decidedly less fun than […]
Operation Hidden Treasure: Cryptocurrency And Your Taxes
Cryptocurrency has become an incredibly popular way to invest, but the tax side of this virtual coin can be difficult to navigate. The IRS has gone back and forth over the years on it’s stance on cryptocurrency, making it confusing even for the most diligent investors. In March of 2021, the IRS announced Operation Hidden […]
How To Prevent Tax Losses from Washing Away
You sold one of your stock investments at a profit, so now you’ll have to report a capital gain on this year’s income tax return. Since another stock you own has been losing ground lately, you’re thinking of selling it to claim a capital loss on your return to offset your gain. However, because you […]
Are You Tracking Absolutely All of Your Tax-Related Business Expenses?
Not sure what expenses to track or what you can deduct for your new business? If you’re self-employed, understanding what’s deductible and recording all of your business expenses should be priorities. When you work for yourself, accurate accounting is critical. The IRS pays special attention to tax returns prepared by sole proprietors. Not only does […]
Tips for Finding a Qualified Tax Resolution Firm
Given how high the stakes are, it is surprising how little thought many people give to their taxes. All too often, individuals simply walk into a neighborhood storefront, hand over their most personal information and trust the person on the other side of the desk to do the right thing and prepare their taxes properly. […]