by Admin | Jun 2, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning
Summer is almost here, and your children may be looking for a summer job. The standard deduction for single individuals increased from $12,550 in 2021 to $12,950 in 2022, meaning your child can now make up to $12,950 from working without paying any income tax on their...
by Admin | May 24, 2022 | Business Taxes, Individual Taxes, Tax Planning
There’s an old saying that reminds us “if you fail to plan, you plan to fail.” Whoever coined that phrase was talking about the world of small business accounting whether they realized it or not. Financial and tax literacy aren’t just an...
by Admin | May 17, 2022 | Business Taxes, COVID-19, Entrepreneurial, Individual Taxes, Marketing, Tax Planning
To say that there is a lot going on in the world right now is truly a bit of an understatement. Starting a few years ago with the onset of the still ongoing COVID-19 pandemic, the role of the accounting professionals in the context of a small business began to change....
by Admin | May 12, 2022 | Entrepreneurial, Individual Taxes, Tax Planning
With the current substantial appreciation in home values and demand for housing exceeding the available inventory, along with low home mortgage interest rates, more and more homeowners are converting their existing homes into rentals when they buy a new home. Other...
by Admin | May 10, 2022 | Entrepreneurial, Individual Taxes, Tax Planning
The real estate market is red hot, and plenty of folks nearing retirement and holding investment property see now as an excellent time to offload their real estate assets and reap the profits. If you’re one of them, then – tempting as it may be –...
by Admin | May 3, 2022 | Individual Taxes, Tax Planning
Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them. This period is termed the statute of...
