Tips Every Self-Employed Individual Should Know About Self-Employment Tax

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Article Highlights: What is Self-Employment Tax? Net Earnings Subject to Self-Employment Tax Comparison: Employee vs. Self-Employment Prepayment and Estimation Exemptions from Self-Employment Tax Issues and Challenges Self-employment…

Summer Jobs for Your Children

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Article Highlights Higher Standard Deduction IRA Options Typical Summer Jobs for Young Adults Self-Employed Parent Employing Your Child Tax Benefits Summer jobs for kids offer more than just extra cash—they provide…

Tax Bill Clears the House: What It Means for Americans and What’s Next

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On May 22, the U.S. House of Representatives passed a sweeping tax package, advancing a bill that could significantly reshape the federal tax landscape heading into the 2025 filing season. Dubbed by supporters as “The One Big Beautiful Bill,”…

Important June 2025 Due Dates

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June 2025 Individual Due Dates June 2 - Final Due Date for IRA Trustees to Issue Form 5498 Final due date for IRA trustees to issue Form 5498, providing IRA owners with the fair market value (FMV) of their IRA accounts as of December 31, 2024.…

You Are Not an ATM

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Let’s get one thing straight: your business is not a bottomless pit for personal spending. Too often, SMB owners treat their bank accounts like ATMs—dispensing cash on impulse until there’s nothing left for growth, innovation, or even…

Understanding Filing Requirements and Non-Compliance Penalties for Exempt Organizations 

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Article Highlights: Annual Filing Requirements Understanding Which Form to File Due Dates and Extensions Online Filing Options Consequences of Late Filing or Non-Filing Monetary Penalties for Filing Non-Compliance Other…

Taxpayers Living Abroad, June 16, 2025, Is an Important Filing Deadline

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Article Highlights:  Americans Living and Working Abroad Extension Requests Report of Foreign Bank and Financial Accounts (FBAR) Statement of Foreign Financial Assets Estimated Tax Payments Estimated Tax Safe Harbors June…

How the Social Security Fairness Act and Lump-Sum Election Can Maximize Your Benefits

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Article Highlights: The Impact of the Social Security Fairness Act Social Security Lump-Sum Election Taxation Options for Lump-Sum Payments Taxation in the Year of Receipt Lump-Sum Election Method How Each Method Works …

Fore! When Golfers Miss the Fairway on Taxes

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As Rory McIlroy celebrates his historic 2025 Masters victory, joining an elite group of golfers – including Tiger Woods and Jack Nicklaus – who've completed the career Grand Slam, the spotlight on professional golf has never been brighter.…

When Consumers Pull Back: What Small Businesses Need to Know Right Now

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It starts small. Fewer cars on the dealership lot. Half-empty restaurants on a Friday night. A "maybe next year" when customers talk about their next big vacation. It’s not your imagination. Consumer behavior is shifting — and small…