Can You Deduct Worthless Crypto On Your Tax Return?
Did your crypto investment run off to the Bahamas with the owner of FTX? One of the top questions asked this tax season was whether people could offset the loss of cryptocurrency. […]
When Does Capital Gains Tax Apply?
Capital gains taxes are a critical aspect of tax law that every taxpayer must understand. A capital gain occurs when an individual or corporation sells an asset for more than they initially […]
Business Owner Tax Benefit: The Augusta Rule
As a business owner, it’s crucial to keep track of your expenses and minimize your tax liability. One way to achieve this is through the Augusta Rule tax strategy. We have all […]
The Most And Least Tax Friendly States
Have you ever wondered what states are the most and least tax friendly? Head to the Big Apple, New York if you’re looking for the highest taxes. For those looking for a […]
$1 Spent in Your Business Isn’t $1 Saved on Taxes
Just because something is a business expense, doesn’t mean it’s free money. The goal in every business should be to keep your money, not spend it. Spending money to save it on […]
Five Tax Deductions For Pet Owners
As a pet owner, you may be surprised to learn that some of your expenses related to your furry friend may be tax deductible. While the IRS does not allow pet expenses […]
How to Pay Yourself as a Business Owner – Owner Distribution, Guaranteed Payments or Salary?
Wondering how you should pay yourself? Well, with IRS requirements, sometimes it can be confusing on how to actually give yourself your hard earned money. We have everything you need to know […]
Do You Need To Pay Taxes on Free Stuff You Get As An Influencer?
Everyone loves free stuff, but no one loves an unexpected tax bill. If you’re an influencer and you get gifts from companies, we have all you need to know on the differences […]
New IRS Tax Extension For California Storm Victims
After the recent storms in California, the Federal Emergency Management Agency declared that individuals and businesses that were affected by the storms now qualify for an extension on various tax returns. The […]
Who Can You Claim as a Dependent on Your Taxes?
One of the biggest questions people have when it comes to doing their taxes is, “who can I write off as a dependent and how do I do it?” WHO QUALIFIES AS […]
When Is It Time To Call A Tax Professional To File Your Taxes?
With tax season in session, you may be wondering whether or not to hire someone to do your taxes or whether to do them on your own. While it may seem hectic […]
When Are Investment Expenses Tax Deductible?
Did you know you can write off some of your investments, giving you a double benefit financially? The IRS allows tax deductions for investment-related expenses if those expenses are related to producing […]