Your wedding day is one of the most exciting and memorable days of your life. It makes all the hectic planning leading up to the big day well worth it. But as you walk down the aisle to say “I do,” you probably aren’t thinking about your income taxes. Yet,…
Leaders must figure out how to continue paying the nation’s bills after Kevin McCarthy’s speakership bid empowered the far right to dominate a narrowly divided House. – Forbes – Taxes Read More
The complexities of the UK’s VAT and Customs Duty rules can be difficult for overseas businesses to navigate. – Forbes – Taxes Read More
Hard-core conservative Republican demands over the federal debt ceiling could cause a financial and economic crisis later this year. – Forbes – Taxes Read More
Carrie Brandon Elliot reviews the inversion-related definitions in reg. sections 1.7874-3, -11, and -12, including the definitions of substantial business activities in a particular country and inversion gain. – Forbes – Taxes Read More
As the year ended, the news and my social media feeds were dreading the implementation of this change for fear it would create an additional tax form to deal with for many and could unintentionally cause personal transactions to count as business transactions. – Forbes – Taxes Read More
All Forms 1099 are reported to the IRS based on your Social Security number. If there are errors on a Form 1099, tell the payer immediately. If you can’t get it corrected, you should report and explain it on your return. Failing to report a 1099 nearly guarantees you and…
At the end of 2022 many digital trading platforms were promoting the message that loss harvesting now would reap tax savings in a few months. Taxpayers who believed that could be in for a nasty surprise. – Forbes – Taxes Read More
Today’s Social Security column addresses questions about not having retroactive payments applied at 70, when spousal benefits can be paid to someone receiving their retirement benefit and what happens to disability benefits at full retirement age (FRA). – Forbes – Taxes Read More
People often talk about the tax breaks that come with getting married — but that doesn’t mean unmarried people are out of luck when it comes to getting the most back on their taxes. In fact, there are several reasons why a single filing status may come in handy during…
Owning a small business is daunting, even for people with loads of management experience. Taking some time in January to mark the following four items off of your “to do” list will reap rewards when it’s time to file your tax return. – Forbes – Taxes Read More
Right now tax professionals are encouraging their small business clients to close their books and start thinking about their tax returns. Clients are often surprised at how much their business made and how much tax they owe. But some tax optimization strategies can be used after the tax year ends.…