In recent years, the plight of Americans unjustly detained abroad has garnered significant attention, not just for the human rights implications but also for the unexpected financial repercussions upon their
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 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
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
When it comes to retirement planning, married couples have a unique advantage that can significantly boost their savings: the Spousal IRA. This often-overlooked tax break allows a working spouse to
Dealing with IRS penalties can be overwhelming, with over 148 different types potentially adding significant costs to your tax bill. However, many of these penalties can be