Recent Articles
The Inflation Reduction Act increases the R&D Tax Credit for Startups by doubling it.
CPAs who work with startups that perform research should be prepared to discuss this tax benefit with their clients, as the legislation could change. The Inflation Reduction Act of 2022 was passed by Congress, and it included a provision to...
Tax Tips For Your Crypto
For tax preparers attempting to take into account all the variables, crypto volatility can be a pain. However, cryptocurrency owners can make their accountants’ lives easier by adopting a few best practices. Maintain meticulous records of all your transactions. You...
Will You Have to Pay Taxes on the Canceled Debt If Your Student Loans Were Forgiven?
The White House just offered sweeping student loan forgiveness for millions of borrowers. Here’s what that implies when it comes to taxes. President Biden unveiled various student loan relief initiatives, including federal loan forgiveness ranging from $10,000 to $20,000 per...
How to Find a Tax Advisor: 5 Tips
Although death and taxes are unavoidable, there is plenty you can do about it! Finding a great tax counsel is one of the most critical things an entrepreneur can do to safeguard their wealth because the right advisor can save...
The Impact of the Inflation Reduction Act on Cryptocurrency Regulation
The IRS will receive an allocation of about $80 billion over the next ten years as part of the Act. Many in the crypto sector expect 2022 to be the year of total regulatory and legislative certainty for crypto assets...
S Corporation
“S corporation” stands for “Subchapter S corporation”, or sometimes “Small Business Corporation.” It’s a special tax status granted by the IRS (Internal Revenue Service) that lets corporations pass their corporate income, credits, and deductions through to their shareholders. S corporation...