Understanding the Types of IRS Audits: Why Professional Help is Essential

Dealing with the IRS can be a daunting experience, especially when you receive an audit notice. Understanding the different types of IRS audits and what each entails can help you navigate the process more effectively. However, it's crucial to…

Top 5 Accounting Mistakes Small Business Owners Make and How to Avoid Them

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Proper accounting is the backbone of any successful small business. It ensures that your financial records are accurate, helps you make informed decisions, and keeps you compliant with tax regulations. However, many small business owners,…

Can States Save Seniors? Fighting the Rising Costs of Property Taxes

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Property taxes are a significant financial burden for many Americans, particularly senior citizens. Rising property taxes have begun to jeopardize the financial stability of older adults living on fixed incomes. In response, some states are…

Reclaim Your Life: Essential Steps to Overcome Identity Theft and Secure Your Future

Article Highlights: Tax-related Identity Theft Immediate Steps for Taxpayers Report the Incident to the IRS Contact Other Agencies Secure Your Personal Information Stay Vigilant How the IRS Protects Taxpayers Special…

Money Doesn't Stink: The 12 Strangest Taxes in History

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Throughout history, taxes have been a fundamental aspect of governance, often reflecting the economic and social priorities of the times. While many taxes are straightforward, aimed at income, property, or sales, some historical taxes have been…

Important July 2024 Tax Due Dates

July 2024 Individual Due Dates July 1 - Time for a Mid-Year Tax Check Up Time to review your 2024 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 -…

A Secret to Lower Taxes: Special Deduction for Self-Employed Health Insurance

Article Highlights: Who Qualifies for the Self-Employed Health Insurance Deduction? Self-Employed Individuals Partners in Partnerships S Corporation Shareholders Where is the Deduction Claimed? The Tax Benefit What…

How an Accounting Pro Can Help You Create and Stick to a Budget

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Maintaining a clear and effective budget is crucial for success. Yet, many businesses are overwhelmed by day-to-day operations, often making financial decisions without a solid forecast. This can lead to unexpected financial troubles and missed…

Living Below Your Means: A Key to Entrepreneurial Success

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Starting a business is a thrilling adventure, filled with dreams of innovation, independence, and financial success. However, the reality of entrepreneurship often involves long hours, relentless challenges, and financial uncertainty. As tax…

A Retiree's Guide to Reducing Taxes on Social Security Benefits

 Article Highlights: Funding Taxation Thresholds and Conditions Railroad Retirement Married Taxpayers Filing Separate Survivor Benefits Strategies to Minimize Taxation Income Planning Tax-Deferred Savings Tax-Efficient…