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What Makes a Business Sustainable?

When we are talking about building a sustainable business, we are talking about one that is built to last.  Often, entrepreneurs get caught up in the headlines about businesses with hyper-growth rates. We start thinking of how we can replicate these results.  But what is

Does a Tax Deduction and a Tax Credit Result in the Same Tax Benefit?

Article Highlights: Itemized Deductions Above-the-Line Deductions Below-the Line Deductions Business Deductions Asset-Sale Deductions Refundable Credits Nonrefundable Credits Carryover Credits Business Tax Credits Tax lingo, even without getting into the weeds of the Internal Revenue Code, tax regulations, IRS rulings, etc., can be confusing. Two frequently

Managing Your Finances During an Inflationary Period

It’s hard to ignore the real-life impacts inflation is having. While gas and grocery prices are having the most immediate effect, the price of almost everything is going up. People who are looking for ways to counter the impact and preserve financial stability can start

If You Have a Side Hustle, Be Advised: The IRS is Cracking Down

Article Highlights: Form 1099-K Reporting Threshold Marketplaces Payment Processors (credit and debit cards) Online Service Providers Airbnb and VRBO Delivery and Other Personal Services Business Expenses Record Keeping For several years now, the IRS has required payments made to merchants through various marketplaces, payment processors

Important Enhancements to the Earned Income Tax Credit For 2021

IRS Stops Using Facial Authentication Software for Access to Online Accounts Article Highlights: Prior Article ID.me Treasury Decision IRS Third-Party Authentication A prior blog article posting included an article about the IRS’ plans to use ID.me facial recognition software for taxpayers and others to authenticate