A Little-Known Way to Pay Family and Save on Taxes
Many business owners overlook a powerful strategy that allows them to pay family members, reduce taxes, and avoid payroll taxes altogether. You likely know the traditional approach: hire your child and put them on payroll. That strategy works well for younger children in a sole proprietorship. But once your child turns 18—or if you operate […]
BEWARE! Scammers Are Impersonating Banks and Financial Institutions…
…and running tons of other cons, frauds, and swindles too! Scammers are sly. They’re constantly adapting their criminal methods to the ever-changing digital landscape to bilk you out of your hard-earned money. In fact, their methods change faster than the technology we use to stop them. You may answer your phone or receive a text […]
Important Notice: Protecting Your Private Information
To Our Valued Clients, I’m writing to make you aware of ongoing scams targeting individuals by attempting to gain access to personally identifiable information such as Social Security numbers, PINs, bank details, and other personal data. While data targeting is a constant threat, tax season always drives an increase in this activity, and it appears […]
Understanding Income Tax Brackets
Were you aware that tax rates can vary depending as much on how you earn your money as how much money you earn? Because of this, not every dollar you earn is taxed at the same rate. The United States, through the IRS, uses a progressive tax system to calculate and collect tax revenue. Under this […]
Things To Know If You Have a “Side Hustle” Income
If you work full or part time, but have a side hustle, even if it only generates a small amount of revenue, you may want to take a few moments to read this article. The IRS has been cracking down on folks with a side hustle income and if you fall into that category, it […]
It’s The End Of The Year. Here’s A Few Tax Tips You Should Be Aware Of
Form 1099-DA Is Here — How It Will Impact Your Crypto Taxes After four years of work, the IRS has finalized its cryptocurrency regulations, and crypto tax reporting now begins. Starting with the 2025 tax year, custodial crypto platforms must report taxable crypto transactions directly to the IRS. “Digital asset brokers” must handle this reporting […]
IRS Shutdown Guidance
Re: What does a government shutdown mean for you and your tax filing obligations? We would like to take a moment to bring your attention to the current government shutdown. Since the timing of when the shutdown will end is uncertain, this may have an impact on our service deliveries to you as […]
July 2025 Newsletter
Urgent: Want an Electric Vehicle? Act by September 2025 If you’re considering purchasing an electric vehicle for your business or personal use, now is the time to pay close attention. On July 4, the president signed the One Big Beautiful Bill Act that terminates the following three major electric vehicle tax credits, effective […]
Business Tax provisions in the One Big Beautiful Bill Act
Bonus depreciation: The bill permanently extends the Sec. 168 additional first-year (bonus) depreciation deduction. The allowance is increased to 100% for property acquired and placed in service on or after Jan. 19, 2025, as well as for specified plants planted or grafted on or after Jan. 19, 2025. Sec. 179 expensing: The bill increases […]
Individual Tax provisions in the One Big Beautiful Bill Act
Tax rates: The bill generally makes the tax rates enacted in 2017 in the TCJA permanent. The bill adds an additional year of inflation adjustment for determining the dollar amounts at which any rate bracket higher than 12% ends and at which any rate bracket higher than 22% begins. Standard deduction: The bill makes the TCJA’s increased […]