The federal government has issued over $1 billion in upfront tax credits to buyers of new and used electric vehicles (EVs) as part of the Inflation Reduction Act. This initiative,
The IRS recently released its annual “Dirty Dozen” list of prevalent tax scams that business owners need to watch out for, ranging from phishing attempts and employee retention credit fraud
As a business owner, it’s crucial to maintain accurate financial records and comply with tax laws. A recent case serves as a stark reminder of the severe consequences of tax
Deciding who should own the business car—yourself or your corporation—is a crucial decision for single-owner S corporations. This choice impacts insurance rates, tax deductions, and administrative complexity. Individual ownership may
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