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Ready for the Deadline? What You Need to Know About 1099s
The new year is here, and with it comes an important deadline for business owners: January 31, 2025. If you’ve paid independent contractors, service providers, or freelancers $600 or more in 2024, you may need to file a 1099 form for them…. -
End of the Year Reminders for Business Owners
The end of the year is fast approaching! It’s time to wrap up those final tasks that can make a big difference in reducing stress and preparing your business for tax season. Here’s a handy checklist to help you complete… -
Understanding Tax Liabilities on Investments for Your Grandchildren – You Ask, We Answer Series
Investing for your grandchildren’s future is one of the most generous and thoughtful gifts you can give. Whether it’s a college fund, a nest egg for their first home, or just a financial cushion for whatever life throws their way,… -
Income Shifting: Save money in taxes WITHOUT working harder!
Want to save money in taxes WITHOUT working harder? One way is to shift income from a higher bracket taxpayer to a lower one or even a zero rate-bracket. Typically splitting the income between family members will save thousands in… -
How to Choose the Best Entity Type for Your Business
One of the first big decisions you’ll face when starting your business is choosing the right entity type. Each option has its own pros and cons, and the right choice depends on your goals, the size of your business, and… -
Common Myths About Audits
Navigating an IRS audit can be a daunting prospect, but understanding the reality behind common myths can help demystify the process and reduce anxiety. Here are some prevalent myths and the truth behind them: Myth 1: Only Wealthy Individuals Get… -
How to Solve Tax Season Stress in One Hour a Month
Tax season can be a significant source of stress for many small business owners. The sheer volume of paperwork, the pressure to meet deadlines, and the fear of making costly mistakes can make it a daunting period. However, by dedicating… -
Starting a Side Business? Here’s What You Need to Know
In today’s gig economy, starting a side business is a popular way to supplement income and explore entrepreneurial interests. Whether you’re freelancing, selling handmade crafts, or offering consulting services, a side business can be both rewarding and profitable. However, it… -
Show Me the Money! Where’s My Tax Refund?
Tax season can be a stressful time for many, but the anticipation of receiving a tax refund can also bring a sense of relief and excitement. For those expecting a refund, knowing where to check its status and understanding the… -
Estimated Tax Payments Guide
In the realm of personal and business finance, understanding and effectively managing estimated tax payments is crucial. This article aims to provide a clear and comprehensive overview of what estimated tax payments are, who needs to make them, and how… -
Common Tax Filing Mistakes for Small Business Owners
Small business owners face numerous challenges, and managing taxes is often one of the most daunting. Tax mistakes can lead to financial penalties, audits, and unnecessary stress. Understanding and avoiding common tax filing errors can save small business owners both… -
Tax Season Do’s and Don’ts for Small Business Owners
As tax season approaches, it’s crucial for small business owners to navigate the complexities of tax filings accurately and efficiently. This article aims to guide you through some essential do’s and don’ts to help ensure a smooth tax season. Do:…