Taxes
1099s Explained: Types
July 12, 2023 Now that we know the basics of IRS Form 1099, we can take a closer look at...
Sales tax holidays and taxability of clothing/back to school (part 1)
Returning to class probably doesn’t make too many students think of the word “holiday,” but tax jurisdictions have other ideas....
What are Deferred Tax Liabilities?
July 10, 2023 Last week we broke down deferred tax assets and how they can help reduce tax liability. Today,...
What Are Deferred Tax Assets?
July 6, 2023 When looking into the net worth of a business or individual, one of the first couple of...
How Are Gambling Winnings Taxed?
July 5, 2023 Most people dabble in gambling at some point in life. It might look like a day at...
How to Keep Good Tax Records
June 29, 2023 Tax time can be a stressful period for individuals and businesses alike. However, maintaining accurate and organized...
When Does the IRS Pursue Criminal Charges?
June 28, 2023 Tax evasion and tax fraud are federal crimes that involve the willful attempt to either evade the...
Can I Have a Passport If I Owe Back Taxes?
June 27, 2023 A passport is an essential travel document that allows individuals to explore new horizons, visit foreign lands,...
Sales Tax Software vs. Service Providers: Making the Right Choice for Your Business
Staying on top of your sales tax obligations is crucial to maintaining compliance and avoiding costly penalties. However, navigating the...
What is Currently Not Collectible Status?
June 26, 2023 When taxpayers find themselves unable to pay their tax liabilities due to dire financial circumstances, the IRS...
Happy fifth birthday, Wayfair, as your rules keep changing
It’s been five years since the U.S. Supreme Court’s Wayfair decisiongave tax jurisdictions the power to require out-of-state companies collect...
Am I Responsible for My Spouse’s Back Taxes?
June 22, 2023 Marriage is viewed as a union of two individuals, joining both their lives and responsibilities. As financial...
