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Use the Tax Code to Make Business Losses Less Painful
Whether you're operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing...
2024 Tax Rates
The IRS has announced over 60 revised annual tax provisions for 2024 due to inflation. This includes increased tax rates for various income levels,...
One-Time Thing: IRA to HSA transfer
Did you know that you can transfer funds directly from your IRA to a Health Savings Account (HSA) without taxes or penalties? Under current law,...
Is Disability Income Taxable?
If you may be eligible for disability income should you become disabled, it’s important to know whether that income will be taxable. As is often the...
Withdrawing ERC Claims
Recently, the IRS halted processing of claims for the Employee Retention Credit (ERC), due to a high volume of fraudulent claims. The moratorium is...
How To Be Ready To Secure a Business Bad Debt Deduction on Your 2023 Tax Return
Is your business having trouble collecting payments from clients or vendors? You might be able to claim a bad debt deduction on your tax return. But...
Don’t Get Carried Away by a Windfall
Receiving a sudden and sizable influx of cash may seem like a dream come true. It can be, but many people get carried away and end up in worse...
The Ins and Outs of the Home Office Deduction
The pandemic changed the landscape of work for a lot of people, including the numerous business owners who...
Moving Out of State? Learn All the Tax Implications First
With so many people working remotely these days, thinking about moving to another state has become common —...