Author: taxsecretsblog

Are you eyeing 2025 as the year you finally trade your daily commute for days spent traveling, relaxing, or chasing long-postponed dreams? You’re not alone. Many soon-to-be retirees are mapping out a fresh chapter—but hold up. Before you sail into the sunset, there are a

Article Highlights: Custodial Parent Joint Custody Issues Conflicts Between Family Court and the Tax Code Tiebreaker Rules Impact on Dependent Care Credit Child Tax Credit Impact on Earned Income Tax Credit (EITC) Education Credits Form 8332: Impact and Revocation Claiming Medical Expenses Head of Household

As humanity expands its reach beyond Earth, questions about governance, ownership, and taxation in outer space have moved from science fiction to urgent reality. Boston University School of Law alumnus Kevin Brown has previously proposed a groundbreaking solution: a "moon tax." This concept seeks to

As the new year dawns, small business owners often find themselves juggling a myriad of tasks. Among these, the issuance of 1099 forms can easily slip through the cracks, especially when payments for services rendered in December are made in January. This oversight can lead

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 Items       Self-employed Individuals       Crowdfunding    

For 2025, several significant tax changes are on the horizon that could impact individuals, businesses, and tax professionals alike. From the expiration of key provisions in the Tax Cuts and Jobs Act (TCJA) to inflation adjustments and potential legislative developments, staying informed is crucial for

By now, you’ve probably heard the rumblings—or maybe caught a glimpse of job titles like “Fractional Sales Manager” or “Fractional Marketing Director” popping up on LinkedIn. But what does “fractional” actually mean? In plain terms, fractional hiring is like bringing in a seasoned expert—minus the pressure

If you’re like most small business owners, you’ve probably said it a thousand times: “This year, I’m going to finally increase my revenue!” That’s a solid ambition—who doesn’t want bigger numbers on their statements? But what if we told you there’s something even more critical than

As an independent accountant or tax professional, budgeting and forecasting aren’t just tasks you do for your clients’ small businesses—they’re critical tools for growing your own practice. With the QuickBooks Online Budgeting feature, you can set financial targets, track expenses, and ensure your business stays on

Remember when Bench closed its doors on December 27—practically overnight—and everyone collectively gasped at their screens? If you’re a small or medium-sized business owner who used the platform, you probably felt that wave of panic: Wait, who’s got my books? How do I trust these online