The IRS has announced its 2024 inflation adjustments on November 9, 2023. Although the U.S. income tax rates will remain the same during the next two tax years, due to a change in the tax brackets (the buckets of income that are taxed at progressively higher rates),...
What methods can you implement when you file your business tax return as an employer, owner, and operator of a small business? Efficiently filing your taxes can maximize deductions and credits, shelter revenue, and contribute to employee benefit plans. The following...
According to certified financial planners, when Generation X and Millennials learn about income taxes, including any deductions and credits that may apply, it saves them thousands of dollars each year. If you are a Gen X or Millennial, whether you are embarking on...
Did you know over 19 million taxpayers submitted valid tax extensions for the 2022 tax season? According to the IRS, millions of Americans annually file federal income tax extensions. A tax extension is considered valid if filed before the original tax...
Most business owners don’t enjoy bookkeeping or accounting. Yet they carry on because they have a do-it-yourself (DIY) attitude and think hiring an accountant is a luxury. After all, why not work a little later and do the books yourself? However, here are some...
As certified public accountants, we know all too well the pain and pressure of tax season. Every year, businesses scramble to gather their financial information, search for deductions, and ensure everything is in order for the IRS. But did you know that starting your...
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