In a significant move towards enhancing corporate transparency, the U.S. government has introduced the Beneficial Ownership Information Reporting (“BOIR”) requirement. This new regulation aims to prevent illicit activities such as money laundering and tax evasion by providing clearer insights into the ownership structures of companies. Whether you’re a business owner, investor, or simply interested in […]
As we look ahead to the 2025 tax year, the IRS has unveiled new tax brackets that could impact your financial planning. Understanding these changes is crucial for individuals and businesses alike, as they can influence everything from your take-home pay to your investment strategies. In this post, we’ll provide a breakdown of what you […]
When to Worry if Your Tax Refund is Delayed While many tax filers experienced significant delays in receiving their 2020 tax refund due to pandemic-related issues, the IRS has assured the American public that things should be back to normal for 2021 returns. That begs the question, what is normal, and when should I worry […]
Stocks are a fantastic way to make passive income but can play a massive part in your end-of-year tax bill. As you buy and sell investments, you may be wondering how are stocks taxed? Profits on stocks are assessed a capital gains tax. If you sell a stock after holding it for less than […]
6 Things to do After Filing a Tax Extension The deadline for filing your income taxes has come and gone. Like millions of Americans, you took advantage of the ability to extend the tax deadline to October 17th, 2022. What now? While you now have some extra time to file your taxes, there are still […]
8 Common Tax Credits With tax season upon us, Americans are looking for ways to reduce their overall tax burden and save as much money as possible. While many people focus on claiming as many deductions as possible, tax credits can also go a long way in reducing your overall tax burden. 8 common tax […]
How are Tax Credits and Tax Deductions Different? Tax credits and tax deductions are two great ways to help save money when it comes time to file your taxes. However, the two tax-saving mechanisms work affect your yearly tax bill very differently. So, what is the difference between a tax cred and a tax deduction? […]
Many Americans choose to leave the US to work or live abroad. It’s an exciting experience that can lead to a lot of opportunities. Through all of the excitement and emotion of moving to a new country, many Americans fail to consider how moving abroad will impact their taxes. That’s where we come in! If […]
Every year towards the end of the year you hear about wealthy individuals making extremely generous contributions to charitable foundations. While these donations certainly help the foundations receiving the money, they also benefit the individual donating the funds. You are able to claim charitable donations as a tax deduction when filing your taxes. However, it […]
Cryptocurrency has gained a huge amount of traction over the past couple of years. Due to the volatility of these cryptocurrencies investors are constantly trying to buy low and sell high. However, they rarely pause to think how all these sales and purchases will affect them come tax time. Despite cryptocurrency lacking government oversight, it […]
