Taxes

The holiday season is quickly approaching, and it’s time to start making plans for the most lovely time of the year!    However, the holiday season frequently brings with it an increase in spending, making it critical to manage your funds properly. In this installment of our blog series, we will look at efficient ways […]

Managing finances has never been more important than it is in today’s fast-paced world.  It can be difficult to maintain financial stability due to the demands of daily living and unforeseen costs.    To assist you in regaining control of your finances and achieving long-term security and independence, we are embarking on a transforming journey

In the fast-paced world of business, every moment counts, and every penny matters. To stay competitive and achieve your financial goals, you need to have a clear understanding of your company’s financial health. This is where professional bookkeeping services come into play.     Professional bookkeeping services offer a wide range of benefits, from saving

  In the world of business, every decision counts, especially when it comes to finances. Hiring a bookkeeper isn’t just an expense, it’s an investment in the success of your business.   They bring expertise, precision, and strategic thinking to your financial operations, helping you make informed decisions and chart a path toward growth and

If you’re a business owner operating as an S-Corporation, you’re probably already aware of the numerous tax benefits this structure offers. However, with these benefits come certain responsibilities and rules, one of which is the requirement to pay yourself a “reasonable” salary, known as reasonable compensation. In this blog, we’ll dive into the world of

The individual coverage health reimbursement arrangement (ICHRA) allows businesses of all sizes, from large corporations to small businesses like yours, to reimburse employees for their personally purchased health insurance expenses. The ICHRA is particularly beneficial for businesses with fewer than 50 employees because they are not obligated to provide health benefits under the Affordable Care

We would like to remind everyone… This is the time of year to consider getting an IP PIN.  Make sure to tuck that IP PIN email or letter in a safe place!  You will need it when you file your 2023 tax returns.   Have you ever submitted an online tax return to the IRS

If you own your own business and operate as a proprietorship or partnership (wherein your spouse is not a partner), one of the smartest tax moves you can make is hiring your spouse to work as your employee.   But the tax savings may be a mirage if you don’t pay your spouse the right

It’s 2023, but you still have the chance to qualify for the employee retention credit (ERC) for the 2020 and 2021 calendar years. This credit can potentially help you recover a significant amount of money.   The ERC is a refundable tax credit against certain employment taxes. To claim this credit, it is necessary to

Do you owe self-employment tax on Airbnb rental income? That’s a good question. In Chief Counsel Advice (CCA) 202151005, the IRS opined on this issue. But before we get to what the IRS said, understand that the CCA’s conclusions cannot be cited as precedent or authority by others, such as you or your tax professional. Even