In a season when inflation is eating away at incomes, there may be some relief in the new guidelines issued by the U.S. Internal Revenue Service (IRS) for 2023 filings. […]
Category: Tax Tips
Top-7 Tips for Smooth Corporate Accounting
Businesses of all sizes need reliable accounting and bookkeeping systems to track their finances, including corporations. Whether it’s a Wall Street PubCo or a small C-Corp, every corporate business’s accounting […]
The Best Depreciation Schedules for Your Business Goals
When you purchase a fixed asset, you can’t always take the total expense of the purchase at once. Instead, you’ll need to calculate the allowed depreciation (and the rules change […]
NFT Taxes: Everything You Need to Know
Are you new to the world of NFTs? If so, you may wonder about the tax implications of owning and using these digital assets. This blog post will overview how […]
Taxes on I Bonds and Other Treasury Bonds: Explained by Pros
Inflation has been in the news lately, and it’s hard to ignore it at the grocery store or gas station. But one silver lining that comes with high inflation is […]
Cash vs Accrual Accounting: Which is Best for Your Business?
What’s cash vs accrual accounting? The cash basis of accounting is simple – you record your revenue as your deposit it in the bank and expenses when you make a […]
Roth IRA for Kids: Rules and Contributions
Most people realize that a ROTH IRA is a good investment that allows retirement funds to grow tax-free. You can withdraw these funds tax-free in retirement. But what most people […]
UTMA Account Rules: Taxes on Investment Accounts for Minors
Starting an investment account for a child can give them a head-start in life, but when choosing the right account type, you need to consider your goals and the child’s […]
EV Tax Credit 2022 Updates
Indeed, electric vehicles (EVs) are becoming quite popular with those who can afford them, that is. Not only are they quiet, but they emit no carbon dioxide as they run. […]
What is Excise Tax?
varItMak Most people are well aware of income tax and sales tax, but are less aware of excise taxes. So what is excise tax? What are Excise Taxes? An excise […]