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 […]
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 […]
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 […]
If you have recently started a side-gig or even branched out on your own to become self-employed you may be wondering, how does the IRS tax the money I’m earning? If you work for a company you typically receive a W-2 and the company will automatically deduct payments from your paycheck for tax. However, if […]
The obvious reason why you should strive to avoid the failure to file penalty is because it costs you money, and nobody wants to pay for something that could have been avoided! The failure to file penalty is charged if you file after the due date (usually April 15th for individuals), owe taxes and don’t […]
Many find it difficult to submit their taxes to the IRS while the due date fast approching. Fortunately, you can get the assistance of tax preparers to get your taxes filed on time. You can even work with tax preparers to submit your taxes past the April deadline with an IRS tax extension. Whichever way […]
