Most of my clients are taxpayers who own small businesses themselves or file jointly with a spouse who owns a small business. Some of these small businesses are organized as C or S Corporations, and the owners pay federal and state taxes throughout the year through their W-2 wages (based on their set salaries and… [Read More].
Effective January 1, 2024, the tax credit for electric vehicles (EVs) will be available at the car dealership—at the time of purchase. This is very exciting news for those who are considering purchasing an EV. The current process of claiming an EV credit (for a vehicle placed in service during tax years 2023 and before)… [Read More].
Due to the available tax incentives for clean vehicles, small business owners have frequently contacted me in recent months with questions regarding whether their business can or should purchase a vehicle. Given the average cost of today’s vehicles, this is a significant capital investment for most small business owners. So, for this month’s blog, I… [Read More].
Given that many of you are now in the process of engaging for 2022 tax preparation, for this month’s blog I thought it was important to prepare clients for what to potentially expect for 2022, as compared to 2021. There were many tax benefits that were in place for tax year 2021 (due to the… [Read More].
After the demise of the legislation known as “Build Back Better” and several congressional false starts on smaller packages, the 50-50 Senate has recently passed a much smaller package known as the “Inflation Reduction Act”. Now that the hard part is over (passing a bill in the Senate), the legislation has a much smoother path… [Read More].
If you invest in stocks, bonds, mutual funds, ETFs, cryptocurrency, real estate, or other assets that produce income and gains, then you definitely know how tough it can be to achieve a successful result. This is especially true in 2022—many analysts have described the recent downtown in the crypto markets as a “crypto crash” and… [Read More].
The beginning of a new year brings much hope and opportunity. While most people probably don’t think about taxes when making New Year’s resolutions, it may be worth considering. Taxes are one of the largest expenses that we all have, and many of us aren’t even aware of how much we’re paying. Here are five… [Read More].
Year-end can be one of the most stressful times of year for small business owners. Most people experience some amount of stress during the holiday season, but for small business owners, there are additional bookkeeping, accounting, and tax planning concerns. Much of this stress is caused by the fact that options decrease when the year… [Read More].
Small business owners may not know that fall is a pivotal season in which several tax considerations need to be made. Here are some questions that small business owners should consider now that we are beyond Labor Day and the end of the year is approaching. Did You File Your Taxes? While the typical income… [Read More].
Cryptocurrency has become an increasingly popular topic in recent years, and as a small business CPA and Attorney, it is becoming more prevalent within the tax situations I handle for my clients. Crypto investing has also become more mainstream, and even risk-averse clients are beginning to take notice and invest small sums in Bitcoin and… [Read More].