Underpayment Penalties and How to Avoid Them Underpayment penalties can be a significant concern for taxpayers, both individuals and corporations. These penalties are imposed when taxpayers fail to pay enough tax throughout the year, either through withholding or...
Choosing the Right Filing Status for Your Taxes: A Comprehensive Guide When it comes to filing your taxes, one of the most crucial decisions you’ll make is selecting the appropriate filing status. Your filing status affects your filing requirements, standard...
When you’re the owner of a corporation or S-corporation, it can feel natural to pay for business-related expenses out of your own pocket from time to time. After all, you are the business, right? Well, not exactly — and the IRS makes that distinction very clear....
Storm Damage and Taxes: A Texas Filers’ Guide As Texans, we know all too well the impact that severe weather can have on our lives and communities. This year, we’ve faced two significant challenges: Hurricane Beryl and the May derecho that swept...
Reasons to Consider a Traditional IRA Today When planning for retirement, choosing the right Individual Retirement Account (IRA) can significantly impact your financial future. The two most popular types of IRAs are the Roth IRA and the Traditional IRA. Each has its...
