Share: According to the IRS, Statistics of Income Division, Publication 1304, January 2024 in the 2021 tax year, 33.73% of returns filed were Married Filing Jointly / Qualifying surviving spouse, 2.43% Married Filing Separately, 13.21% Head of Household and 50.63% Single. In the complex world of tax regulations, couples who elect “Married Filing Jointly” as… Read More
Share: As April 15th approaches, it’s essential to recognize the importance of filing an income tax return, even if you fall below the income threshold set annually by the IRS. While you may not be legally obligated to file due to income limitations, doing so can yield numerous benefits. There are six reasons why filing… Read More
Your Guide to Year-End Preparation and Business Success ADVERTISING DISCLOSURE: Some of the links on this blog post and/or newsletter contain affiliate links. This means when you click the link and make a purchase, I may earn a commission at no extra cost to you. Thanks. Share: Ergedine Pericles December 18, 2023 Introduction As the new… Read More
ADVERTISING DISCLOSURE: Some of the links on this blog post and/or newsletter contain affiliate links. This means when you click the link and make a purchase, I may earn a commission at no extra cost to you. Thanks. Share: The days are flying by, and before you know it, January will roll around, marking the… Read More
ADVERTISING DISCLOSURE: Some of the links on this blog post and/or newsletter contain affiliate links. This means when you click the link and make a purchase, I may earn a commission at no extra cost to you. Thanks. Share: Receiving an IRS audit letter can be a nerve-wracking experience for any business owner. An IRS… Read More
No one wants to be on the bad side of the IRS, yet that is where millions of taxpayers find themselves each and every year. As enforcement efforts ramp up at the IRS, the number of letters and communications landing in mailboxes is continuing to increase and one of them could land in your mailbox.… Read More
Few things are as frightening as opening the mailbox and finding a letter from the IRS, especially when you know you owe them money. The much feared tax agency does not contact taxpayers just to say hello; and receiving communication from them is not likely to be good news. When your heart stops pounding and… Read More
If you took on a side hustle last year to make ends meet and earn some extra cash, you may have found an unexpected surprise when you filed your taxes. If you did not prepare carefully, you probably ended up with a big tax bill for your troubles, possibly with penalties and interest added on.… Read More
Proper tax planning is a year-round proposition. You cannot afford to wait until April to start planning your taxes and assessing your tax liability. Knowing which factors can raise your taxes is one of the best ways to keep more money in your pocket. These five factors can unexpectedly raise your taxes owed at the… Read More
Being an adult has its perks, from being able to rent a car and book a hotel room to the chance to earn a living and rent an apartment. But life as an adult also comes with some challenges, including the burden of filing and paying taxes. If this year is the first time you… Read More