When you run a small business, you have two costs: fixed costs and variable costs.Fixed costs don't change based on how much product you make and sell, but variable costs do.A...
Posted by Taxes Made EZ Inc on 01/27/2022
While tax season 2022 might be a few months away, the new year will be here before you know it. The fourth quarter is the time to do proactive tax planning to lower the 2021 tax bill....
The legality of marijuana in many American states is questionable. However, medical marijuana can easily be obtained via a doctor’s prescription and is legal in 34 states. Also,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/24/2021
Not-for-profit organizations tend to make almost twice as many accounting errors on their balance sheets as similarly sized, for-profit companies; this is what emerges from a study...
Posted by Taxes Made EZ Inc on 08/24/2021
Franchise tax applies to taxes paid by certain companies that wish to do business in certain states. Also called a privileged tax, it gives the company the right to be established...
Posted by Pat Raskob on 08/24/2021
When preparing for your income tax, the general rule is that you write off your daily business purchases, such as office supplies or utility vehicle mileage, as expenses, and purchases...
Posted by Rosovich & Associates, Inc. on 08/15/2021
Taxes are one of the only certainties in life, and cryptocurrencies are no exception.Yes, your Bitcoin is taxable. The IRS treats ownership of cryptocurrencies as "property"...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 07/06/2021
No one loves the idea of giving Uncle Sam the hard-earned money. However, it is horrible to leave a tax deduction that could bring down your tax bill due to ignorance. As a result,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/30/2021
If you are moving to a foreign land to settle, start a new job, or even set up a business, the US Expat taxes might qualify you for some tax exclusion. One, however, needs to apply...