Author: taxsecretsblog

According to one recent study, there are currently more than 32 million small businesses operating in the United States. For the sake of discussion, know that this term refers to those organizations with fewer than 500 employees. To put that number into perspective, those small

Article Highlights: Asset limitations when receiving Medicaid or federal Supplemental Security Income Annual Contribution Limits $100,000 Account Limit Qualified Expenses ABLE Account Beneficiary Compensation Saver’s Credit Sec 529 Plan Rollovers Congress created Achieving Better Life Experience (ABLE) accounts in 2014. Prior to the creation of

There are a lot of seasoned investors out there who have made a lot of money on things like the stock market over the years. They've done their research, they've made choices that they believe in, and they have been rewarded handsomely because of it.

Article Highlights: Inflation Reduction Act Research Credit Payroll Tax Option Research Credit Qualified Research Qualified Small Business The Inflation Reduction Act that President Biden signed into law back in August, has a lesser-known provision that could benefit many small business startups, allowing them to potentially

Article Highlights: Contractor Developer Credit Retroactive Extension to 2022 Increased Credit 2023 through 2032 Prevailing Wage Requirements Qualifications Qualifying Residential Projects Non-Refundable Credit Basis Adjustment As part of the Inflation Reduction Act, passed in August 2022, modifying Internal Revenue Code Sec. 45L, contractors will benefit

Article Highlights: Federal Disaster Declaration. Filing Dates Extended. Option as When to Declare the Disaster Loss. Records Located Within Disaster Area. Other Disaster Areas. The Federal government provides special tax law provisions to help taxpayers and businesses recover financially from the impact of a disaster,

October 2022 Individual Due Dates October 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report them to your employer on IRS Form 4070 no later

Article Highlights: Itemized Versus Standard Deductions Medical Expenses Taxes Charitable Contributions If your tax deductions normally fall short of itemizing your deductions or even if you are able to itemize, but only marginally, you may benefit from using the “bunching” strategy. The tax code allows

The U.S. Justice Department has announced the indictment and arrest of Ehrenfriede Kauapirura, a Brooklyn, New York dietician. She is charged with multiple counts of filing false tax returns, obstructing the Internal Revenue Service, and willful failure to file a tax return.  Charges Include Fraudulent

Perhaps you’re a business owner who is ready to downsize, or a long-time employee ready to set off on your own and leverage your knowledge and experience to start your own small business. If you have a particular area of expertise then you’re probably in