Making more money does not always have to mean paying more taxes, but you do need a plan, and more than just a prediction. Whether you are an individual or a business owner, don’t wait till yearend like most folks, when it is generally too late to do much, focus on what you can do...
Is the ERC now in the rearview mirror? Not really, it remains as hot as ever in the tax-refund marketplace, and the truth is the IRS is gearing up its enforcement actions. Don’t think you are impacted? Think again! Unscrupulous tax representation firms are searching the internet for prospective clients and offering to split the...
Everyone who files a Form 1040, 1040-SR or 1040-NR will have to check one box, answering either yes or no to the digital asset question: "At any time during 2022, did you: receive (as a reward, award or payment for property or services); or sell, exchange, gift or otherwise dispose of a digital asset (or...
The IRS has audited only 1% of all individual returns recently, so most taxpayers can sleep at night. But if you file a Schedule C to report profit or loss from a business, your odds of drawing additional IRS scrutiny increase. Schedule C is a “gold mine” of tax deductions for the self-employed. IRS agents...
If your New Year's resolutions included buying an electric vehicle this year, take heart. A revamped 2023 EV tax credit is a notable part of the Inflation Reduction Act, and the new law’s clean energy focus. Here are some of the changes, some are good, some not so good. Some good news: For EVs placed...
