“Extending the 2017 Tax Cuts and Jobs Act is the single most important economic issue of the day. If we do not renew an extension, then we will be facing an economic calamity, and as always, with financial instability, that falls on the middle and working class”, Treasury Secretary Scott Bessent.
As the summer season ends, the real estate market often sees a surge in activity, with many homeowners deciding it’s the perfect time to sell. For those looking to move,… Read More »Navigating Home Sales and Tax Implications in 2024
Crafting a well-composed IRS forgiveness letter can yield a multitude of benefits, ranging from financial relief to fostering a positive relationship with the IRS. Let’s delve into the advantages of this often-overlooked practice:
April 15 holds significant weight as the deadline for filing federal income tax returns. This date remains a steadfast marker on the calendar, although it may shift slightly in certain circumstances. Taxpayers are required to file their returns by this date, reporting their income, deductions, and credits for the previous tax year.
As a reputable CPA firm dedicated to guiding entrepreneurs through the intricacies of financial management, we understand that the timing of starting a business can significantly impact its trajectory. One… Read More »The Strategic Advantage of Launching Your Business at the Dawn of a New Fiscal Year
Limited Liability Companies (LLCs) have become one of the most popular forms of business entities in the United States due to their flexible structure and liability protection for members. However,… Read More »Why LLCs Are Required to Register in Every State They Conduct Business
Starting a business is an exciting endeavor that involves many crucial decisions. One of the most important choices you’ll make is how to structure your business. Many entrepreneurs opt for… Read More »Unlocking the Benefits of Forming an LLC: Why It’s a Game-Changer for Your Business
An S Corporation is a type of business structure that combines the benefits of a corporation and a partnership. S Corporations have become popular among small business owners due to the tax and liability advantages they offer. In this blog, we will explore the pros and cons of forming an S Corporation.
In August 2022, congress added new tax provisions to the Inflation Reduction Act, that are designed to address health care, fight climate change, and reduce the country’s deficit. These new… Read More »The Inflation Reduction Act
When all the partners don’t agree on what to do with the proceeds from the sale of real property, executing a “drop and swap” allows real estate investors to “drop”… Read More »Defer Taxes with a Drop and Swap on Your 1031 Property