When purchasing equipment, business owners are generally expected to spread the tax deduction over the life of the asset – called “depreciation.” Typically you cannot write off the entire purchase

Going into 2023, President Biden enacted a new law called the SECURE Act 2.0 that    makes changes to retirement savings accounts and employee benefit plans. This law goes into

As we approach the end of 2022, it is the perfect time to get organized for the upcoming tax season by being informed of significant tax law changes in addition

What is a scholarship and a grant? A scholarship is any amount paid to a student attending an educational institution for the purpose of study. A grant is similar to

For some people, it is unknown that prizes, awards, and gambling winnings are required to be recorded on your tax return. If the winnings are a small amount they are

What is the EV (Electric Vehicle) tax credit? The EV tax credit works similarly to other tax credits and can be applied when you file your tax return in the

What is the American Opportunity Tax Credit? The American Opportunity Tax Credit (AOTC) is a federal tax credit for qualified education expenses paid for a student for the first four

There are new accounting rules in effect for leases which are required for years ending December 31, 2022 and later. If you have leases for facilities, vehicles and/or equipment, you

Choosing the right legal structure for your business is a crucial decision that will influence the nature of your taxes, personal liability, registration requirements, and operations. Below we will cover

By: Cassandra Bartole What are estimated tax payments? Estimated tax payments are those made to pay tax on income that is not subject to withholding, including earnings from interest, dividends,