Electric vehicles (EVs) have become increasingly popular in today’s society. According to Kelley Blue Book estimates, the EV share of the vehicle market in the U.S. was 7.6% in 2023,
With Labor Day behind us, it’s time to take proactive year-end tax planning steps that may help reduce your small business’ taxes for this year and next. The strategy of
A key decision for any business is choosing the right business entity type. The entity you pick can affect your tax bill, your personal liability, and other issues. For many
There are ways to collect tax-free income and gains, believe it or not. Here are some of the best opportunities to earn tax-free income without current federal income tax implications:
If you’re classified as “high income,” it could mean you owe two additional taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and
Partnerships and multi-member LLCs are often used for business and investment activities because they offer tax advantages, specifically with pass-through taxation. However, they also must follow some special and sometimes
Amidst the pandemic, many employees began working remotely and have continued to do so today. Remote work has many advantages for employers and employees, and as a result, it’s here
When it comes to deciding the method of accounting to use for tax purposes, your organization may have a choice between the cash or accrual method. The cash method often
The complexities of tax law can be difficult and made even more so when faced with an unexpected tax bill due to the errors of a spouse or ex-spouse. The
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of
