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Self-employment taxes are what I see as the most common cause of those surprise tax bills at the end of the year so I wanted to break them down a bit here. If you own an unincorporated business, you likely pay at least three different federal taxes. In addition to federal income taxes, you must […]

The IRS noticed that average gas prices across the United States exceeded $5.00 a gallon and took action. Small businesses that qualify to use and do use the standard mileage rate can deduct 62.5 cents per business mile from July 1 through December 31, 2022. That’s up 4 cents a mile. This brings up a […]

Do you own a corporation, limited liability company (LLC), limited partnership, limited liability partnership, limited liability limited partnership, or business trust?  Or are you planning to form one of these entities? If so, be alert. There’s a new federal filing requirement coming. Back in 2021, Congress passed a new law called the Corporate Transparency Act […]

Have you invested a little or a lot in cryptocurrency? It’s becoming a much more common way to not only build your investment portfolio, but also to buy and sell products and services electronically. If you have or plan to trade in crypto there are some things you should know about the tax reporting requirements. […]

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