Most new as of 2024 businesses are required to file within 90 days of registering the company Most new businesses starting January 1st, 2025 are required to file within 30 days of registering the company Other businesses have until the end of
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Regarding the proposal to tax unrealized capital gains— A recent thread discussing this within a FB group I follow had a comment that the tax on property is akin to the proposal of taxing unrealized capital gains and I pointed out the
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Updated September 2024 The rise of short-term rental platforms, including Airbnb and Vrbo has changed and revolutionized the real estate market, giving rise and opportunity to a potentially lucrative sector (along with many pitfalls): short-term rentals. For many investors, the appeal of
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Common Business Owner Mistakes – I commented recently on a few social posts seeking guidance on tax treatment and entity questions in general. I thought it may be helpful to make a post of some of the biggest mistakes I see business
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California Governor Gavin Newsom on recently signed a bill into law requiring employers to provide notice to employees that they can consult and seek the advice of an attorney for guidance about their rights under the state’s workers compensation law. Under A.B.
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Tax Resolution is finding mutually agreeable resolutions to past tax debts Offers in Compromise is settling a tax debt for less than you owe Installment Agreements are paying either some or all of your tax debt over time. Back-door Offer in Compromise
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IRS tax transcripts are important documents that provide detailed information about a taxpayer’s tax return and account. IRS tax transcripts allow a taxpayer, as well as a tax attorney representing a taxpayer to know what information the IRS has, as well as
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Is the person or people working for you a subcontractor or employee? The IRS uses a 20-point criteria test to determine a worker’s status Each state has its own test that generally follows the IRS test, albeit often varies greatly due to
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You may be able to save considerable amount of cash in the form of tax savings by hiring your kids Your children may learn valuable business skills that they will keep for their lifetime The federal government, via tax preferential treatment encourages
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If your small business is or perhaps more importantly will be netting you over $50,000 this tax year and you’re operating your LLC as a disregarded entity, you may be paying too much in taxes. One potential strategy on reducing your tax
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