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…

Unlock Savings: How the Child and Dependent Care Credit Can Ease Your Childcare Costs

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Article Highlights: Qualifying Expenses Whose Care Qualifies Filing Requirements for Married Taxpayers Maximum Amount of Expenses Eligible Imputed Income for Disabled or Full-Time Student Spouse Credit Percentages Based…

Uncertain About the Reporting Deadlines for BOI?

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Article Highlights: Corporate Transparency Act Beneficial Ownership Information Events Leaving Beneficial Ownership Information Reporting in Doubt History of Events Current Status Back in 2021 Congress passed the Corporate…

How Living in a Community Property State Impacts Married Couples’ Taxes

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Article Highlights:  Community Property Laws Community Property States Domicile and Its Importance Treatment of Community Property Community vs. Separate Property When Community Property Ends Special Rule for Spouses…

Navigating the Complex Tax Maze for Student-Athletes

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Article Highlights: Scholarships Grants and Financial Aid Income from NIL (Name, Image, and Likeness) NCAA Eligibility and Tax Considerations Part-Time Jobs Student’s Standard Deduction Education Credit Student Loan…

You May Receive a Form 1099-K This Year: What It Means for Your Taxes  

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Article Highlights: Historical Context of Form 1099-K The Evolution of Reporting Thresholds Current Reporting Threshold for 2024 Implications for Recipients of Form 1099-K Impact on Tax Reporting Individuals Selling Personal…

Tax Season Is Coming: Here’s a Laugh Before the Madness Begins

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As tax season approaches, the annual rush to gather documents, crunch numbers, and meet deadlines can be overwhelming. Amid the seriousness of tax preparation, it's refreshing to remember that the world of taxes is also filled with quirky, humorous,…

Start Off on the Right Foot for the 2025 Tax Year

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 Article Highlights:  W-4 Updates W-9 Collection Estimated Tax Payments Charitable Contributions Required Minimum Distributions Gifting Retirement Plan Contributions Beneficiaries Reasonable Compensation Business-Vehicle…

How to Handle IRS Letters During Filing Season: What You Need to Know for 2025

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The dreaded moment arrives: you check your mail, and there it is—a letter from the IRS. Your heart sinks. What could it be? A mistake? A penalty? A request for missing information? If this sounds familiar, you’re not alone. During filing…

Snails in Skyscrapers and David Beckham: The Strangest Tax Avoidance Schemes in History

Tax avoidance is a tale as old as, well, taxes themselves, with individuals and companies constantly seeking creative (and often strange) ways to reduce their liabilities. While most of us rely on accountants to help find wholly legal deductions,…