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In recent news, Intuit, the company behind TurboTax, faced backlash from the National Association of Tax Professionals (NATP) over a recent ad campaign. The ad, promoting TurboTax’s full-service option, appeared
The IRS recently announced a significant shift for cryptocurrency reporting, impacting those who rely on digital assets. Until now, taxpayers could use “universal wallet” accounting, treating all crypto holdings as
In the wake of a natural disaster, one of the most challenging tasks for business owners and individuals is reconstructing financial and tax records. These records are crucial for documenting
When disaster strikes, the financial burden on businesses can be overwhelming. Thankfully, the IRS provides tax relief to businesses and individuals affected by federally declared disasters. This relief can help
As we approach the end of 2024, the IRS has released its annual inflation adjustments for tax year 2025, which will significantly impact individual taxpayers and business owners alike. These
State and local tax (SALT) regulations are evolving rapidly, and 2025 promises to bring even more changes that will challenge businesses and their advisors. For business owners, staying ahead of
If you’re a business owner looking to make a smart investment before year-end, don’t overlook the tax benefits of purchasing a business vehicle. By acting before December 31st, you could
As we approach the end of the year, many business owners are preparing to distribute bonuses to employees. Bonuses are a great way to reward hard work and keep employees
As the Trump administration prepares to take office, business owners should be prepared for potential shifts in tax policy, especially regarding provisions from the 2017 Tax Cuts and Jobs Act
As the year comes to a close, it’s the perfect time for business owners to revisit their vehicle-related tax strategies. Whether you’re using a vehicle primarily for business or even
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