IRS Announces End of Unannounced Taxpayer Visits (Mostly)
Monthly Archives: September 2023
IRS Announces End of Unannounced Taxpayer Visits (Mostly)
You wake up in the middle of the night. Heart racing, drenched in sweat, and breathing heavily. Thankfully, it was just a nightmare when the IRS showed up at your doorstep unannounced. Recently, however, this was the reality for some … Continue reading
How to Identify and Avoid Cash Flow Pitfalls
Looking at expenses for one’s business is essential to reduce cash flow issues. For example, it would show if there’s too much money leaving the business or what type of scenario the business might face if there’s an unexpected and … Continue reading
Widow/er Social Security Benefits
A widow or widower is eligible for a survivor’s benefit from Social Security even if they never worked – as long as the deceased spouse qualified for benefits based on his or her own income record. Also, note that surviving … Continue reading
2021 Vs 2022 Vs 2023 Federal Income Tax Brackets
The US tax system is progressive, meaning that the more you earn the more you pay. For the years 2021-2023 there are seven different brackets for each year (2020 was the same structure as well). Which bracket you are in … Continue reading
How to Write an Awesome Accounting Bio
Even though numbers are probably the biggest thing in an accountant’s wheelhouse, getting people in the door with the right words in your bio can make all the difference in the world. Here are a few tips to make sure … Continue reading
How Businesses Can Leverage Data and Personalization for Targeted Campaigns and Growth
Marketing efforts today depend on collecting, analyzing, and leveraging data to make informed decisions. Therefore, business owners need to understand how to harness the power of data and personalization to create targeted campaigns that drive growth. Importance of Data and … Continue reading
IRS Ruling: Crypto Currency Staking Rewards Are Taxable When Received
The IRS recently issued an important ruling on the taxability of cryptocurrency staking rewards, determining that staking rewards are essentially “income” and, therefore, taxable upon receipt and not deferrable until sale or swapping. Below, we will look at the ruling … Continue reading
Monitoring Trade Agreements with Taiwan, Promoting Plain-Language Rules, and Expanding Recruiting and Training for Law Enforcement
United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act (HR 4004) – This bipartisan bill was introduced on June 12 by Rep. Jason Smith (R-MO). The purpose of this bill is to convey approval by Congress of the June … Continue reading
Evaluating Net Operating Loss Considerations
When it comes to determining if a business is eligible to claim a net operating loss (NOL), it depends on the financial situation. If a business’ taxable income is less than its allowable deductions in a set tax period, usually … Continue reading
