The difference between tax credits and tax deductions is something that can often be misunderstood. Their purposes have a similar end result, and both can play a significant role when you file taxes (namely, to save you money as a taxpayer), which makes knowing their differences crucial. Here are the fundamental differences between tax credits […]
As a small business owner, you should never overlook your accounting needs. Learning the financial accounting basics is essential, regardless of industry or entity type. There are accounting basics and terms which are helpful to know as your small business develops and can help you understand the most critical financial concepts. Here are the financial […]
What does it mean to have a 509(a) status in the United States? What provision does the law offer, and which government agency grants this distinction and oversees them? Organizations that are classified as 501(c)(3) tax exemption status are further classified by the government as one of five types under section 509(a) of the Internal […]
Petty cash can cause difficulties with small business expense tracking. This article blog discusses common issues from manual handling to fraud, offering to manage expenses. Keep reading as we introduce a game-changing solution to streamline your financial operations, improve control, and reduce the risk of fraud. Don’t let small expenses become bigger problems. Here are […]
When a loved one or relative passes away, they may leave behind an inherited IRA. As the beneficiary, you may be the recipient of either an inherited Roth IRA or an inherited traditional IRA. Different timelines can affect beneficiaries. Beneficiaries also have rules for handling an inherited Roth IRA or an inherited traditional IRA. Here […]
There are several key tax strategies for investment property owners that can help save money on taxes. You can use tax strategies to defer tax payments or reduce the amount you owe. However, there are different rules for different strategies you must remember. Here are tax strategies for investment property owners. 4 Tax Strategies for […]
If you want to make your products accessible and get them in front of as broad an audience as possible, Amazon is the biggest online marketplace around, and there are some important things to learn about taxes for Amazon sellers. There are some unique processes and rules around selling on Amazon, however, and it’s important […]
Truck drivers are some of the most resilient workers in the country. Long-haul trips, maintaining compliance with the FMCSA, and dealing with poor weather conditions and other drivers are all things truck drivers must deal with regularly. To top it off, truck drivers who are also owner-operators have additional tax requirements to consider. Here is […]
This is the age of the side hustle. Not only do a growing number of full-time workers have a side hustle, but there are many others who have been able to completely replace their full-time income with side hustles. Side hustles offer a ton of benefits for workers. On top of bringing in additional income, […]
The end of the year is rapidly approaching. And while you might be eager to kiss 2021 goodbye, you might not like how fast it’s coming to a close. There are a lot of critical year-end tasks (like maximizing charitable giving!) and considerations for people and businesses. The end of the year is a busy […]
