Tag Archives for " tax planning tips "
Audits of the Rich will Gain Greater IRS Scrutiny
Audits of the rich cratered at the start of the pandemic. That's about to change.Armed with an extra $80 billion in funding for the next decade, the Internal Revenue Service is using the bulk of its war
Read MoreTikTok is Spreading Tax Myths
TikTok is spreading tax mythsTikTok is spreading financial misinformation, according to a new report, including five troubling tax myths affecting self-employed workers.According to Paul Koullick, CEO
Read MoreManaging the ERC Misinformation Epidemic
I'm sure you've heard the radio ads telling business owners: "If you were impacted by COVID, you could be entitled to up to $26,000 per employee in refunds from the IRS. Call today! Don't delay!" The breathless
Read MoreAdjust Your 2023 Withholding Now or Get a Surprise Later
The Internal Revenue Service (IRS) has issued an alert to taxpayers, encouraging them to adjust their 2023 withholding so as to either avoid effectively giving the government an interest-free loan of their
Read MoreSome New Year’s Resolutions for Tax and Accounting Professionals
Well, it’s officially 2023, and lots of people seem to be buzzing with renewed energy for self-improvement. If you've already begun that endeavor, maybe you’ve already started working on your own resolutions
Read MoreTax Prep Checklist: What to Gather Before Filing
Whether you file your taxes yourself or hire a professional accountant, the first step in your tax prep is gathering all the information you’ll need to complete your tax forms.While not exhaustive for
Read More7 Personal Financial Resolutions for the New Year
And (Most Importantly) Real Tips on How to Keep Them!Another holiday season has come and gone and we find ourselves ringing in 2023 – time to turn over a new leaf, right? If you’re thinking about sharpening
Read MoreWhat the Wealthy Can Fear from a New IRS Law on $600 Payments
A new IRS law that requires cash apps and online marketplaces including Venmo and eBay to send tax documents to millions of Americans is ensnaring a surprising demographic: the wealthy.Under the rule,
Read MoreWhat Is a 1099-K? Who Gets One and How It Works
Simply put, a 1099-K form is a record that a third-party payment network transferred at least $600 to you during the year.Did you get paid more than $600 in 2022 for goods or services through a third-party
Read MoreNow is the Time for Year-End Tax Planning
With only a little while left in 2022…It’s time to review your year-end tax plans.Knowing the federal tax breaks to take advantage of and the pitfalls to avoid can save you money. Let’s start
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