When a business generates losses instead of profits, it can be a financially devastating experience. However, these losses can be used to offset taxable income in the future, thereby...
Posted by Taxes Made EZ Inc on 04/27/2023
Taxes are an essential part of our economy and help fund various government services and programs. However, navigating the world of taxes can be confusing and overwhelming for many...
Posted by Pat Raskob on 04/09/2023
As a freelancer or self-employed individual, taking advantage of every tax deduction available to you is important. Deductions help lower your taxable income and save you money on...
Posted by Taxes Made EZ Inc on 03/14/2023
The Federal Insurance Contributions Act (FICA) tax is a federal payroll tax imposed on employees and employers to fund Social Security and Medicare programs. FICA tax is a critical...
Posted by Pat Raskob on 03/14/2023
The Trader Tax Status (TTS) is for taxpayers who make a living selling and buying securities. The scheme has numerous benefits for day traders, such as remitting business expenses,...
Posted by Dennis Jao on 03/14/2023
The United States tax system is tax strict meaning citizens are to voluntarily complete their tax forms when it is time for the taxes. Taxpayers must submit their tax returns on time...
Posted by Tiffany Gaskin on 03/14/2023
Marijuana is legal in the United States for recreational or medical use except in four states. The country has awarded more than 35,329 licenses for adult or medical use, and the industry...
Posted by Dennis Jao on 03/01/2023
The law mandates every business owner to report taxes of non-employees and others on form 1099. Some common errors on the form must be corrected or reported to the Internal Revenue...
Posted by KLSM CPA Firm PLLC on 02/07/2023
You may be eligible for the qualified business income deduction if you are a small business owner.The Qualified Business Income (QBI) deduction provides small business owners with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/09/2023
