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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
In a recent case that underscores the serious implications of payroll tax fraud, Linda Davis, the owner of Majestic Seals & Stripes, Inc., was sentenced to four years in federal
As a business owner, managing taxes can be complex, but it’s crucial to stay compliant. Recent cases, like the guilty plea of a telecommunications company and its CEO for defrauding
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
As we approach the end of the year, it’s time for business owners to take a hard look at their finances and implement strategic tax planning to maximize savings. Understanding
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