Your Best Source Of Tax Information on the Net!

For business tax planning articles, our tax resources provides valuable insights into how you can reduce your tax liability now, and in the future.

Taxes
December 5, 2022

10 Tips for End-of-Year Tax Planning

How much tax you have to pay in April could depend a lot on how you handle your money between now and the end of the year. This is especially true if you have investments outside of a retirement account, if you itemize your deductions, or if you are saving for retirement. Time is running out, though. After we ring in the new year, most of the advice we've compiled below won't be able to reduce your tax burden. So it’s time to get to work!

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Finance
November 29, 2022

2022 Year-End Financial Checklist

It's no secret that 2022 has been a rough year, but the door to success is far from closed. As we near the end of the year, what are some steps investors can take to maximize their returns? (Hint: It's not checking your bank balance more often!) Read on to learn more.

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Business Tax Planning
November 21, 2022

2022 Tax-Planning Strategies To Cut Your Business Taxes

As your small business expands, so can its tax bill. State, federal, and self-employment taxes can add up quickly. Profitable businesses need tax planning. Learn how to decrease your small company taxes this year.

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Taxes
November 19, 2022

12 Tax Write-Offs for Your Next Return

It's possible that you qualify for a tax credit or deduction from the list of twelve below! Prepare yourself now for the upcoming 2023 tax year by reading more below.

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Taxes
November 18, 2022

Top 8 Year-End Tax Strategies

Take advantage of the remaining time in 2022 to maximize your tax refund! Whether you've had a good year, are recovering from recent losses, or are just getting started, you may be able to save a ton of money on your taxes by taking the right steps before the end of the year.

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Taxes
November 9, 2022

10 Tax Tips for Vacation Rentals on Airbnb, HomeAway, and VRBO

Airbnb and other vacation rental companies are becoming more popular, causing homeowners to face new tax issues. If you use Airbnb, HomeAway, VRBO, FlipKey, or other short-term rental services, you can reduce or eliminate your income taxes by following these tips.

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IRS
November 6, 2022

How an IRS Audit Works and How to Avoid One

The word "audit" comes from the Latin word "to hear." It's a "hearing" of your business finances by the IRS. Once you understand how audits work, they're less frightening. We'll cover that first, then discuss how to avoid being audited and make the process easier if it does happen.

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Crypto Tax
November 5, 2022

What are the Risks of Crypto Tax Loss Harvesting?

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IRS
October 28, 2022

IRS Announces Higher Tax Brackets and Standard Deductions for 2023

The IRS has made a lot of changes to individual tax brackets, deductions, and credits for 2023 to account for inflation. ‍Inflation is currently at its highest level in four decades, so it's not surprising that it's led to some major price increases. Some taxpayers may benefit from the changes next year. Continue reading to learn more.

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Taxes
October 27, 2022

How Can a Health Savings Account Help You Save for Retirement?

Don't take this tool for granted! A Health Savings Account (HSA) is a way to save money for medical costs that is often forgotten. Find out how HSAs can help you save money on taxes as you plan for retirement.

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Taxes
September 8, 2022

Student Loans and Taxes: Some Basics to Know

There are still a few things you need to be aware of about student loans and taxes, even though the federal student loan suspension has been extended and student loan cancellation for some borrowers has been announced. Continue reading to learn more...

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IRS
September 7, 2022

The IRS Gets $80 Billion to Find “Tax Cheats”

If you haven't been paying attention, the IRS will be hiring 87,000 auditors. If you haven't been filing your taxes for cryptocurrencies or if you run a small business, get ready for things to get tough. Let's talk about what this new law entails.

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Taxes
August 25, 2022

401k vs. ROTH 401k: Which One is Better?

401K and Roth 401K differ greatly. Both are employer-sponsored retirement funds, but they are taxed differently.. Continue reading to learn more...

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Taxes
August 25, 2022

Tax Credit vs. Deduction: What is the Difference?

Tax credits and deductions both work to lower your tax liability, but they do so in different ways!‍ How? Let’s break it down for you!

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Taxes
August 25, 2022

9 Ways To Bask In Summer Tax Savings

Summer 2022 is coming to an end, and taxes may be the last thing on your mind. However, giving tax breaks a little bit of thought now could save you a lot of money when tax season comes around again! ‍Read on for summer tax tips that could help you save money on your taxes. This will help you plan for your taxes.

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Crypto Tax
August 25, 2022

New Crypto Tax Bill

New Crypto Tax Bill‍! U.S. Senators are pushing for a bill that would make small cryptocurrency transactions tax-free. Read on to learn more.

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Taxes
July 27, 2022

7 Benefits to Filing Your Taxes Early

Year after year, many people wait until the last minute to file their tax returns! It's the same overwhelming feeling every year. Luckily, you don't have to follow the crowd. In addition to decreasing stress, paying your taxes early has other benefits (other than merely speeding up the processing of your tax refund). Here are 7 AWESOME benefits to filing your taxes EARLY!

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Taxes
July 27, 2022

15 Tax Deductions for the Self Employed

As you know, being your own boss can give you more freedom and choices about when and where you work. But it can come with a tax bill that is harder to understand and costs more. Here are some tax breaks that EVERY self-employed person MUST KNOW about.

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Taxes
July 26, 2022

Reasons Why Passive Income Is Better Than Active Income

Although most folks have heard of passive and active income, many don't understand how they differ or how to generate passive income! Most believe that the secret to accumulating wealth and achieving financial freedom is to understand how to generate passive income. Read more on this!

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Crypto Tax
June 24, 2022

Bummed by Crypto Losses? Here Are Some Tax Tips!

Bitcoin and other digital asset investors have been crushed recently by the longest losing streak since 2011. However, even if you suffered losses on your crypto investments this year, there's still some good news!‍The IRS allows investors to claim cryptocurrency loss deductions, reducing your tax bill or potentially resulting in a tax refund.

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Taxes
June 22, 2022

Are Summer Camp Expenses Tax Deductible?

While the kids are having fun this summer, you can get some work done while minimizing your tax liability!

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Taxes
June 22, 2022

Tax Planning For The Three Stages of Your Financial Life

In this blog post, we'll show you how to lower your tax burden in any season of life and what steps to take in each of the three stages of your financial life: wealth accumulation, preservation, and distribution.

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Taxes
January 4, 2022

Asset Location: This Strategy Reduces Investment Taxes

Investments all have a variety of tax implications. If you manage yours right, you could save tons on taxes!

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Business Tax Planning
January 4, 2022

Best Covid Tax Strategies? Home Office Deduction for Business Owners

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Crypto Tax
December 10, 2021

Can the IRS Track my Crypto Transactions?

Many investors think that they can pull a fast one on the IRS by just not reporting their crypto gains because they believe crypto is "untraceable" by the IRS. That's not the case, unfortunately.

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Taxes
December 10, 2021

How Not To Pay Taxes on Crypto

There are MANY rumors floating on the internet that you don't have to pay taxes on your Crypto. While misleading, there are in fact ways to not pay taxes... At least as of right now.

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Crypto Tax
December 10, 2021

Do I Have to Pay Taxes On My Cryptocurrency?

The answer to this is definitely, yes! There was a period of time when the word "currency" was very confusing. People were hoping that these coins would get treated like actual currencies; you don't pay any taxes when you exchange dollars for dollars. But that is not the case when it comes to crypto. Here's how it's taxed...

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Crypto Tax
December 10, 2021

Is Buying Stuff With Crypto a Taxable Event?

The future is here. We want to buy goods and services all over the globe at the click of a button. Crypto can empower this to happen, but how can the tax codes get in the way?

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Crypto Tax
December 10, 2021

What is decentralized finance (DeFi), and how is it taxed?

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Crypto Tax
December 10, 2021

5 Crypto Tax Events

In the Crypto space there are many transactions that sneak past people. They don't know they are actually taxable. This article goes over 5 common Crypto tax events that you may bump across.

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Business Tax Planning
December 10, 2021

5 Tax Savings Strategies for Business Owners

Are you a business owner looking to cut your tax bill? Then, you're in the right place. Here are five different tax deductions you can take advantage of to reduce your tax burden!

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Taxes
December 10, 2021

The Roth IRA Conversion and how it can save you big on taxes

Have a traditional 401k or IRA that you want to try squeeze some more tax benefits out of? Well, a Roth Conversion may be a good option for you!

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Taxes
December 10, 2021

This Investment Account Can Save Millennials Loads of Money (Maybe even MILLIONS)

This account if used properly with aggressive savings can save millennials a boatload of cash on taxes!

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Taxes
December 10, 2021

Understanding Taxes for Beginners

Not sure how the tax system in the US works? Check out our beginners guide below!

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