Tax Strategy Navigating Tax Planning and Audit-Proofing: Insights from Gary Sinopoli’s Tax Court Case In the realm of finance and tax planning, the adage "It's not how much you…Joshua ThompsonFebruary 2, 2024
Tax Strategy Demystifying the Backdoor Roth IRA: A Guide to Proper Paperwork For many individuals seeking to maximize their retirement savings, the Backdoor Roth IRA has emerged…Joshua ThompsonFebruary 2, 2024
Business Tax Items Understanding Beneficial Ownership Reporting: What Business Owners Need to Know In recent years, the landscape of corporate transparency and accountability has undergone significant changes, with…Joshua ThompsonFebruary 2, 2024
Personal Tax Items Electric Vehicle Hack and Changes to Electric Vehicle Tax Credits in 2024 In 2024, significant changes are underway regarding the Electric Vehicle Tax Credits. For many prospective…Joshua ThompsonFebruary 2, 2024
Business Tax Items Employee Retention Credit Warnings The Employee Retention Credit (ERC) is a tax credit introduced by the United States government…Joshua ThompsonJuly 5, 2023
IRS Updates Fun Tax Facts & Reminders Tax season may be the most exciting time of the year, but here are some…Joshua ThompsonJuly 5, 2023
Business Tax Items Grouping Passive Activities In the United States, when you are a real estate professional, you can make an…Joshua ThompsonJuly 5, 2023
Business Tax Items All About S Corporations In the United States, there are several types of corporations that individuals and businesses can…Joshua ThompsonJuly 5, 2023
Personal Tax Items 529 Plans and The New Tax Law The creation of the 529 plans aimed to address the increasing costs of education and…Joshua ThompsonJune 2, 2023
Business Tax Items How Can the Changes in 1099-K Reporting Requirements Affect Your Tax Return? A 1099-K is a tax form used to report income received through payment settlement entities,…Joshua ThompsonJune 2, 2023
Personal Tax Items Home Energy Tax Credit Updates 2023 Home energy tax credits are incentives provided by governments to encourage homeowners to make energy-efficient…Joshua ThompsonJune 2, 2023
Tax Laws What Do You Need to Know About the IRS on Taxing NFTs at a Higher Rate The IRS is seeking public input on its proposal to apply the same tax treatment…Joshua ThompsonJune 2, 2023
Tax Credits IRS Clarification of SUV MSRP for Electric Vehicle Tax Credit In order to promote the use of more eco-friendly options, the IRS implemented better policies…Joshua ThompsonMarch 7, 2023
Personal Tax Items Medical Expense Tax Deduction Medical expenses are tax deductible. The IRS allows you to deduct certain unreimbursed medical and…Joshua ThompsonMarch 7, 2023
Personal Tax Items Did Congress Make a Mistake on the 401k Catch-Up Contributions? Believe it or not, Congress does make mistakes. They were rushed to pass the massive…Joshua ThompsonMarch 7, 2023
Business Tax Items Recalculating You W-4? When? Why? As most already know, the W-4 Form or Employee’s Withholding Certificate needs to be filled…Joshua ThompsonMarch 7, 2023
Tax Laws Expected Tax Changes On Hold in 2023 Doing your taxes this year will feel a lot more like it did before the…Joshua ThompsonMarch 7, 2023
Crypto Deduction on Cryptocurrency Donations In this modern day and age, several charitable institutions accept cryptocurrency donations. This makes it…Joshua ThompsonMarch 7, 2023
Business Tax Items Business Tax Changes for 2023 Adjustments in business tax laws and regulations are made each year which makes it hard…Joshua ThompsonFebruary 2, 2023
Tax Credits Changes to Vehicle Energy Credit The policies on the electric vehicle tax have been modified to promote the use of…Joshua ThompsonFebruary 2, 2023