As the 2024 election approaches, Vice President Kamala Harris, the Democratic nominee for president, has outlined her tax policy agenda, which largely builds on President Biden’s earlier proposals. Understanding these
Schedule C filers, the backbone of many small businesses and sole proprietors, face a daunting reality: they are statistically 3-10 times more likely to be audited by the IRS compared
In times of economic hardship, navigating tax obligations can make financial stress so much worse. Sometimes it may be due to being out of work, unexpected medical expenses, or other
Providing financial support to aging parents or in-laws while managing child care needs can be taxing. Learn how converting support payments to child care payments can qualify you for a
The IRS is facing a significant challenge in combating bad tax advice circulating on TikTok, a platform it cannot access due to federal restrictions. National Taxpayer Advocate Erin Collins highlighted
Closing your sole proprietorship or single-member LLC? Understanding the tax implications is crucial. Selling your business assets triggers various tax considerations, including special rules for real estate, different tax treatment
Did you know the IRS can charge you up to a 25% penalty for filing your tax return late? Many people don’t realize that you can avoid this hefty penalty
Navigating the intricacies of tax deductions for business meals can be challenging, especially with the IRS’s Sutter rule potentially reducing or denying your claims. In “Navigating the Tax Maze: How
IntroductionIn the dynamic world of business, effective tax planning stands as a cornerstone of financial success. At IRSProb.com, we pride ourselves on unlocking tax-saving opportunities for our clients, ensuring their
Thinking of Converting a 529 Plan to a Roth?The journey of saving, particularly with an eye towards long-term goals such as education, demands a careful balancing act between present needs
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