The IRS is Watching Cryptocurrency Closely

The IRS is Watching Cryptocurrency Closely

Understanding the IRS’s Approach to Cryptocurrency The IRS wants to know of any bitcoins or other cryptocurrencies you have. It will appear at the top of the first page of your Form 1040, below your address and name. The IRS wants to monitor crypto purchases and...
Avoid Common Mistakes as a New Business Startup

Avoid Common Mistakes as a New Business Startup

Case Study: Avoid common mistakes as a new business startup   Starting a new business can be an exciting and challenging experience. There are many things to consider when launching a new venture and making mistakes can be costly. There will be a lot we will be...
Independent Contractors Vs. Employees

Independent Contractors Vs. Employees

Click Here for a Full List of W2 vs 1099 Descriptions What is the difference in Independent Contractors VS Employees  If you have found yourself asking why your boss has paid you as a 1099 independent contractor instead of a w-2 employee, look no further. There are...
Inflation Reduction Act of 2022

Inflation Reduction Act of 2022

What is the Inflation Reduction Act of 2022 The goal of the Inflation Reduction Act (IRA) of 2022 is to “make a historic down payment on deficit reduction to fight inflation, invest in domestic energy production and manufacturing, and reduce carbon emissions by...
Cut Your Self Employment Tax With an S-Corporation

Cut Your Self Employment Tax With an S-Corporation

The Smart Way to Cut Self Employment Tax: S-Corporation Have you had enough of paying large amounts of self-employment tax?  For 2022, lawmakers levy the self-employment tax at the painfully high rate of 15.3 percent on the first $147,000 of net self-employment...
10 Proven Strategies to Lower Your Schedule C Taxes

10 Proven Strategies to Lower Your Schedule C Taxes

  Tax Strategies to Reduce Your Taxes as a Schedule C Taxpayer: Maximize Deductions and Save Big Tax strategies to lower your schedule c taxes – As a small business owner, you know that tax season can be stressful. But with some planning, you can reduce...