Sold or Thinking of Selling Your Home?

by Admin | Jul 28, 2022 | Business Taxes, Individual Taxes, Tax Planning

If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. To help you prepare for reporting the sale you may have already made or make you aware of what issues you may face if you are in the...

August 2022 Individual Due Dates

by Admin | Jul 26, 2022 | Business Taxes, Individual Taxes, Tax Planning

August 10 – Report Tips to EmployerIf you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than August 10. Your employer is required to withhold FICA...

You May Receive an IRS Form 1099-K This Year

by Admin | Jul 26, 2022 | Business Taxes, Individual Taxes, Tax Planning

Effective for 2022 and later years, Congress reduced the threshold for the Form 1099-K filing requirement from $20,000 to a mere $600. So, you might ask, what does that have to do with me? This change can impact taxpayers in several ways, some unexpected, so you may...

Small Businesses Can Benefit from the Work Opportunity Tax Credit

by Admin | Jul 19, 2022 | Business Taxes, Entrepreneurial

The Work Opportunity Tax Credit (WOTC) is a general business credit that is jointly administered by the Internal Revenue Service (IRS) and the Department of Labor (DOL). The WOTC is available for wages paid to certain individuals who begin work on or before December...

Taxpayer Bill of Rights

by Admin | Jul 14, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning, Tax Scams

All taxpayers have a set of fundamental rights they should be aware of when dealing with the IRS. Explore your rights and our obligations to protect them. The Right to Be InformedThe Right to Quality ServiceThe Right to Pay No More than the Correct Amount of TaxThe...

How to Protect Yourself When Selecting Investors For Your Startup

by Admin | Jul 12, 2022 | Business Taxes, Entrepreneurial, Tax Planning

Any seasoned entrepreneur will tell you that coming up with an idea for a startup is ultimately the easy part of this process. Figuring out how you’re going to get the funds necessary to make that vision a reality? That part is a bit trickier. In fact, selecting...