As a business owner, safeguarding client information isn’t just good practice—it’s a legal requirement. The IRS has recently introduced a Written Information Security Plan (WISP) tailored to help tax professionals
Tax season is a pivotal time for business owners. It’s not just about filing returns; it’s about doing so with accuracy and efficiency while minimizing stress. Yet, many accounting processes
The IRS has once again updated its reporting requirements for Form 1099-K, extending transition relief for business owners and individuals who use third-party settlement organizations (TPSOs) like PayPal, Venmo, Etsy,
The IRS has recently rolled out several updates that are critical for business owners to understand, especially with regard to the Employee Retention Credit (ERC), the Corporate Alternative Minimum Tax
The IRS’s recent proposal to shorten the third-party notice requirement from 45 days to just 10 days is raising concerns about taxpayer rights and the potential erosion of due process.
As Donald Trump returns to the political spotlight, business owners are watching closely for potential tax changes that could impact their bottom line. While specific policy changes remain uncertain, the
In times of disaster, fraudsters often use people’s generosity to their advantage, setting up fake charities and using deceptive practices to steal money from well-meaning individuals and businesses. As a
Start-ups often face numerous hurdles, and unfortunately, many new businesses overlook critical tax obligations. Cash flow issues, often stemming from tax missteps, contribute to the failure of 82% of start-ups.
Starting January 1, 2025, the IRS is implementing new interest rates for tax overpayments and underpayments. These quarterly adjustments, based on the federal short-term rate, are critical for business owners
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