by Tiffany Mellow | Dec 2, 2024 | Business Accounting, Business Taxes, Crypto Tax Regulations
From 2018 to 2025, the Tax Cuts and Jobs Act is offering a 20 percent deduction on pass-through business income, with specific eligibility criteria. This deduction impacts the choice of entity. For instance, should you operate as a sole proprietorship or an S...
by Tiffany Mellow | Nov 9, 2024 | Personal Accounting, Personal Taxes
As we navigate the complexities of financial planning, one opportunity stands out for young adults: individual retirement accounts (IRAs). Traditional and Roth IRAs: A Brief Overview Both traditional and Roth IRAs offer unique benefits, so the choice between them...
by Tiffany Mellow | Sep 20, 2024 | Crypto Tax Regulations, Personal Accounting, Personal Taxes
If you invest or trade in Bitcoin, non-fungible tokens (NFTs), Stablecoins, or other digital assets, prepare for sweeping new tax reporting requirements. Congress wants the IRS to crack down on taxpayers who buy and sell crypto but don’t report or pay tax on their...
by Tiffany Mellow | Aug 2, 2024 | Business Accounting, Business Taxes, Non-Profit Accounting, Non-Profit Taxes, Personal Accounting, Personal Tax Deductions, Personal Taxes, W-2's, Your Questions Answered - Business Accounting, Your Questions Answered - Personal Accounting
For 2024 it is difficult to track of what’s new and changed from last year, and there are lots of tax law changes and updates for 2024 that you need to know. To help, we put together a list of the most important tax law changes for 2024. Pay attention to these...
by Tiffany Mellow | Jul 17, 2024 | Business Accounting, Business Taxes, Non-Profit Accounting, Non-Profit Taxes
An Identity Protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number or Individual Taxpayer Identification Number. The IP PIN is known only to you and the IRS. It helps us verify your...
