2025 IRS 1099 Filing Rules for Business Owners
Each tax season, one question always comes up from business owners: “Do I need to file a 1099 for this vendor?” Even seasoned entrepreneurs find the rules confusing. If you’ve ever been […]
Out-of-Pocket Health Insurance Tax Deduction Misconception
Think your out-of-pocket health expenses are fully tax-deductible? Not so fast! Myth: Every dollar I spend on health insurance reduces my taxes.Reality: You only get a deduction if you itemize and your […]
IRS to Send Automatic Payments to Eligible Taxpayers Who Missed Recovery Rebate Credit
Hey, taxpayers! Big news from the IRS! If you missed claiming the Recovery Rebate Credit on your 2021 tax return, you could be getting money sent your way; automatically! Here’s what you […]
What Happens if Trump Takes Away the IRS?
Nobody enjoys paying taxes, and let’s face it; most people aren’t exactly fond of the IRS either. But we’ve always heard that the only certainties in life are death and taxes. So, […]
CFO of Paragon Accountants, Erica Martinez, releases a children’s book: “What Are Taxes?”
Bordista Press’ New Children’s Book “What Are Taxes?” Makes Financial Literacy Fun for Elementary Students In a world where money matters in everything we do, a new children’s book is helping kids […]
What Happens When You Change Tax Brackets in California?
Ever wondered what it really means to move into a higher tax bracket in California? Let’s break it down—because understanding how the state’s tax system works can help you make smarter financial […]
The IRS and How They’re Using AI: A New Era of Tax Enforcement
The IRS is stepping into the future—and AI is leading the charge. But as artificial intelligence becomes a bigger part of tax enforcement, the big question is: Is this a win for […]
How to report self employed income when you have multiple side gigs
If you’re juggling multiple side gigs—whether it’s freelancing, rideshare driving, or selling products online—accurately reporting your self-employed income is essential. Let’s break it down step by step so you’re prepared come tax […]
How To Set Your Business Up for Success During a Recession
With rising uncertainty in the U.S. economy, now is the time to revisit a topic many business owners haven’t thought about in a while—recession readiness. During boom periods, especially with stimulus funds […]
Business Filing Deadline Reminder – March 17th, 2025
Today is the Business Tax Filing Deadline for S-Corps and Partnerships! If you haven’t filed yet, make sure to file an extension today. Late Filing Penalty • $245 per owner per month. […]
Avoiding IRS Underestimated Estimated Tax Penalties
When it comes to taxes, there’s nothing worse than being caught off guard by a penalty. One of the most common—and costly—issues taxpayers face is underestimated estimated tax penalties. In 2023, these […]
IRS Announces the Start of Tax Season
The IRS has officially announced the start date for the 2025 tax season! Mark your calendars and get ready because you can begin filing your tax returns starting January 27, 2025. This […]