Taxes

Article Highlights: Special Transfer Option Does the Vehicle Qualify for Credit MSRP and Purchase Price Taxpayer Qualifications Modified AGI Applying for the Credit Transfer Change of Mind About the Credit Beginning in 2024, a special election allows a taxpayer purchasing a new clean vehicle or

Article Highlights: Power of Attorney Tax Information Authorization Third Party Designee Oral Disclosure In the complex world of financial and legal matters, there are times when you may need to authorize a third party to represent you when dealing with the IRS. A third-party representation

In an era where financial scams are becoming increasingly sophisticated, protecting your IRS payments demands more awareness than it once did. Check washing fraud, a technique where thieves steal checks from the mail, erase crucial information, and manipulate the payee and amount, has seen a

Article Highlights: Foreign Entities Conducting Business in the U.S. U.S. Address Applying for an EIN By Telephone EIN Online By Fax or Mail Updating EIN Information It is mandatory for foreign entities that are conducting business in the United States to have an Employer Identification

Article Highlights: What is Taxable Income Section 61(a) of the Internal Revenue Code No 1099 Cash Sales Reselling Sports and Concert Tickets Crowdfunding On-line Garage Sales The answer to the question “what income is taxable?” can have some surprising outcomes, and this article explores some

The seismic shift toward remote work has become a game-changer, with profound implications for personal finances. According to Stanford University economist Nicholas Bloom, remote work is not only altering the way we work but also reshaping our financial dynamics. Let's delve into the compelling incentives

Article Highlights: Self-Employment Tax Exemptions From Self-Employment Tax Occasional Income Computing the Self-Employment Tax Farm and Non-Farm Optional Methods Foreign Earned Income Self-employment (SE) tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. It is like

As you approach retirement age, the thought of returning to work might be on your mind. Whether you're considering part-time roles or fully immersing yourself back into the workforce, this article is designed to provide insights into the financial aspects of such a decision. We

Some politicians’ dreams of imposing a wealth tax on the richest Americans face a critical juncture as the United States Supreme Court prepares to weigh in on a seemingly minor tax dispute involving a $14,729 tax liability. The case, known as Moore v. United States,

Facebook: Starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300. Article Highlights: Reason for Form 8300 E-File