Author: taxsecretsblog

August 12 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than August 12. Your employer

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 implementing reforms and rebate programs to alleviate this burden, while

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, who juggle multiple responsibilities, often commit common accounting mistakes that

In today's competitive business landscape, providing an exceptional customer experience (CX) is no longer a luxury—it's a necessity. Companies that prioritize CX not only foster customer loyalty but also see significant improvements in their financial performance. This article explores how investing in customer experience can

As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a comfortable and secure future. This article outlines essential tax and financial planning strategies tailored to the unique needs of individuals nearing retirement. By understanding and implementing these strategies, you can

Recent data and insights from Bank of America CEO Brian Moynihan indicate a noticeable slowdown in consumer spending, which inevitably has significant implications for small- and medium-sized businesses (SMBs). Americans’ spending growth has decelerated from nearly 10% in May 2023 to about 3.5% this year. Business

New research indicates that children living in Seattle experienced a significant decrease in body mass index (BMI) following the implementation of the city's soda tax. This tax, aimed at reducing the consumption of sugary beverages, has not only had positive health effects but also carries

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 - Report Tips to Employer If you are an employee who

The saga of Michael Jackson's estate and its prolonged battle with the IRS serves as a cautionary tale for anyone dealing with estate planning and tax issues. The King of Pop's estate was embroiled in a dispute over a staggering $700 million in taxes and penalties,

The recent unsealing of court documents by the Department of Justice (DOJ) has exposed a sophisticated cybercrime operation orchestrated by North Korean IT workers. The situation has had massive financial implications. These individuals utilized stolen or borrowed identities to infiltrate U.S. companies’ networks, defrauding them and