Today, we've got some exciting news that could make tax season a little less stressful for many Americans. The IRS is planning to test a free online tax system in 13 states this upcoming tax season. It’s called the Direct File program. Let's dive into the details!
What is the Direct File...
Hey there, small business owner! Do you dread tax season as much as I do? Even as a CPA, I've faced tax situations that made my head hurt.
Today I'm revealing the Top 3 Tax Questions every small business owner absolutely needs to know.
Just for reading my blog post, I have a...
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...
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.
...
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...
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...
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...
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....
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...
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...
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...
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...
