An S corporation, or sometimes referred to as S subchapter or S Corps, is a type of incorporated legal business entity. An S corporation has a similar business structure to a limited...
Posted by Pat Raskob on 07/17/2021
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
Some people are lucky in their relationship with Uncle Sam as all they do is file their taxes and expect a refund or send in their balance for every tax year. Sadly, it is not so straightforward...
Understanding Itemized Deductions We define itemized deductions as a series of expenses with which one can reduce taxable income on a tax return. It includes medical bills, interest...
Some errors on your tax return can cost you a large refund or end up with a larger tax debt with penalties and interest. There could be an audit in the worst cases, but you can defend...
Owning or managing property has many benefits that people overlook, such as the benefits of vacation rentals and tax deductions. While there are several expenses and rules to consider...
All workers and employers in the service industries where tips occur should abide by the relevant tax rules. One needs to pay income tax, Medicare tax, and Social security taxes on...
Many landlords pay more tax on their properties than they should. This is because they are ignorant of the several tax advantages and benefits of becoming a landlord. More than any...
A cannabis business can typically expect a series of scrutiny from the IRS that will want to penalize them if they are not compliant. Here are tips that can help your marijuana business...