Many Homeowners Associations get confused when filing their annual taxes. Inexperienced board members need help understanding which tax reports to file, how to complete Form 1120 and if their HOA income is tax-exempt. Incorrect tax filings result in unexpected fines,...
Most people starting a small business default to filing a sole proprietorship. Why not, it is generally quite easy to do. But, other entity structures may work better to accomplish your financial goals as you grow a business. Before deciding, learn the pros and cons...
Taxes and death are the only two guarantees of life. While you cannot avoid death, you can reduce or avoid some tax liability. If you want to reduce your taxable income, credits, deductions and investment strategies are available for individuals, solopreneurs and...
When you own a small business, tax deductions can lighten your tax burden and save you money. They make the cost of doing business more affordable. The more you understand deductions, the more you use them to lower your total tax liability. In other words, you keep...
Cryptocurrency isn’t new. For years now, we’ve seen more and more clients needing help determining their tax liability on the sale and exchange of crypto. Like stocks, bonds, gold and silver, the IRS considers crypto property and treats it as such....
Working for yourself has its perks. Unlike a standard employee workplace structure, you set the rules, decide your work hours and determine which jobs to take. Some aspects make individual work difficult unless you know where to turn. Unlike working for an employer,...
