The IRS Just Shut Down Employee Retention Credit! Are You at Risk? employee retention credit irs

The IRS just made an unprecedented announcement. They’re moving fast, to protect the American taxpayer from scams, from these so called ERC or employee retention tax credit promoters.

If you didn’t know, this was the $26,000 tax credit for small businesses who kept employees on...

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Can Choosing the Wrong Business Type Ruin Your Business Plans? business formation business tips tax tips

So, you’re starting a business, and you’re probably overwhelmed by the choices from LLC, sole proprietorship, corporation, or partnership.

I’m here as a CPA to explain to you, and break down the pros and cons of each of these business types, and who they’re best for.

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Did the IRS just lose $2 Trillion of American Taxpayer Money? employee retention credit tax credits tax evasion tax tips

The IRS has been issuing warning after warning, on how ERC fraud is a huge problem. This is potentially a $2 trillion dollar fraud, according to Accounting Today!

Think of it this way… If the IRS has been defrauded by $2 trillion dollars, that’s our American tax money that’s...

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5 Money Mistakes Small Businesses Make and How to Avoid Them business tips small business

Today, we're diving into something very important for all you business owners out there - the top 5 money mistakes small businesses make, and of course, how to avoid them.

So, the first money mistake that small businesses make is...

#1 – Not Having a Budget

Imagine going on a road trip...

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Can Anthony Farrer of The Timepiece Gentleman Go to Jail for Not Paying Taxes? anthony farrer irs tax evasion the timepiece gentleman

People are wondering about the ramifications of taxes with everything that’s going on with Anthony Farrer of the Timepiece Gentleman.

I don’t know if he is or he isn’t filing his tax returns and paying his taxes, but he probably isn’t. The question is...

Can Anthony...

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How to Spot a Fake IRS Letter irs tax tips taxes

Fake IRS letters are going around again. I want to arm you with the information you need so that you never get scammed by a fake IRS letter.

I’ll provide a few examples, and after reading this blog post, you’ll have the information you need to never get tricked by an IRS scam letter....

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How to Call the IRS by Phone in 2023 how to call irs irs tax tips

Here's an updated video on the best way to call the IRS by telephone. I’ll give you two options to quickly navigate the IRS automated telephone maze. And this should allow you to quickly speak to a live person at the IRS in the shortest possible time.

Calling the IRS can be...

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What You Need to Know About The New 1099 K Problem 1099-k irs tax tips

The new 1099-K rules are here to stay and will affect many people, like you and me, and not just those with a small business.

The problem is, this year, you’ll probably receive a new IRS form 1099K tax form, that must be reported on your tax return. In previous years you probably never...

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Why Doesn't the IRS Just Send You a Bill for Your Taxes? individuals irs taxes

A user on Reddit asks a very good question...

Why doesn't the IRS just send you a bill stating how much you owe?

Now that’s a great question.

Why doesn’t the IRS just send you a bill for what you owe? After all, they have all of your tax documents showing the income you earned...

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Side Hustle Taxes: 9 Things You Should Know side hustle taxes small business

A lot of people wonder about how to pay taxes as a result of doing side hustle work, or what some call "gig economy work." It might seem hard to understand at first, but don't worry. Today, we're going to talk about it in a way that's super easy to understand.

In this blog post, I’m going...

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Accidental Landlord: Don't Rent Out Your Home Until You Watch This! tax tips taxes

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Today, we're discussing why you might not want to become an 'accidental landlord', and that is when you decide to rent out a property you own, that you originally intended to sell - typically after you bought another, new home. While this can sound like a great opportunity for extra...

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Five Important Business Lessons from Anthony Farrer of The Timepiece Gentleman luxury watches small business the timepiece gentleman

I’m back again with another blog post, hoping to share five business lessons that we can learn from the challenges faced by Anthony Farrer of The Timepiece Gentleman.

Love him or hate him, running a business is tough. If you’ve been there, you know what I’m talking about. And...

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