The landscape of electric vehicle (EV) tax credits has evolved significantly in 2024, offering more immediate savings and stricter compliance requirements for both consumers and
If you own a timeshare, understanding how to maximize tax deductions can be challenging, especially when you rent it out. The tax implications of owning
In times of market volatility, investors often look for strategies to mitigate losses and maximize their financial position. One powerful tax strategy that can be
As a business owner, you may have heard about or even claimed the Employee Retention Credit (ERC), a pandemic-era tax relief measure designed to help
In the world of business, maintaining compliance with tax laws is as crucial as delivering quality services to clients. Yet, many business owners, overwhelmed by
As we step into 2024, understanding the intricacies of Social Security and Medicare is crucial for business owners, not just for personal planning but also
Running a business in the hospitality industry, such as a restaurant or bar, often means dealing with employees who receive tips. As a business owner,
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,
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 dependent care credit, easing your tax burden and benefiting your family in our latest blog post.
Salvatore Groppo’s guilty plea for involvement in an unlawful sports gambling operation did not shield him from substantial IRS tax liabilities. Despite fulfilling his probation terms, Groppo faced over $100,000 in excise tax and penalties, which he unsuccessfully tried to settle. His appeal to expunge his felony conviction, aimed at negating the IRS’s tax assessment, was denied by the 9th Circuit Court. The court emphasized that the plea deal did not bind other authorities, reaffirming that tax liabilities remain despite a plea agreement.
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