As we wade into the 2022 tax season, you don’t want to delay looking for the right tax professional for you and your situation. You also don’t want to select the first preparer you find without doing the necessary research. Preparing for tax season is crucial, especially if you have a tricky tax situation. There…
Category: Taxes
Marginal vs Effective Tax Rate: A Comparative Guide
Did you know that the US tax system is a progressive system? This means that the taxes you need to pay is based on your annual income. Marginal and effective tax rates will determine which tax bracket you are in. This article will discuss differences, examples, and tax planning strategies to ensure you have the best…
Section 179 vs. Bonus Depreciation: 7 Things You Should Know
Assets and equipment: what has your company purchased in the past year? Major asset purchases can transform your company operations, but they have another benefit, too: they can lower your taxes. Recording the depreciation expense of an asset using Section 179 or bonus depreciation can make a huge difference in the taxes you pay. Curious…
BMW X6 Tax Write Off 2021-2022 (Ultimate Tax Deduction)
BMW X6 Luxury SUV was BMW’s first Midsize SUV that focuses on people who love the handling of sports car but want a SUV. Some buy X6 for their passion of driving and many buy it to simply save money on their taxes by using the SUV for business purpose. In this article we will…
BMW X7 Tax Write Off 2021-2022 (Ultimate Tax Deduction)
BMW X7 Luxury SUV was BMW’s first Midsize SUV. People who love BMW X7 are die hard fans and wouldn’t replace their X7 with any other vehicle except an updated X7 or another BMW. Some buy this vehicle for their passion and many buy it to simply save money on their taxes. In this article…
BMW X5 Tax Write Off 2021-2022 (Ultimate Tax Deduction Guide)
BMW X5 Luxury SUV was BMW’s first Midsize SUV. People who love BMW X5 are die hard fans and wouldn’t replace their X5 with any other vehicle except an updated X5 or another BMW SUV. Some buy this vehicle for their passion and many buy it to simply save money on their taxes. In this…
The Federal Electric Car Credit: What You Need to Know
Driving an electric car could save you thousands of dollars. Thanks to the federal electric car credit, buying an electric car will finally pay off. You’ve been caring for the environment. Now, it’s time to get rewarded. If you haven’t taken advantage of the electric car tax credit yet, keep reading. We’re going to share everything you…
Credit Cards: Cash Back Vs Points
Did you know that 31% of credit cardholders didn’t redeem any of their rewards in 2020? This means that, even in the face of difficult economic times, many Americans are leaving money on the table. Today we will be comparing “Credit Cards: Cash Back Vs Points” and see which one is a better option. Using credit cards…
11 Common Legal Tax and Business Issues facing Small Businesses
The majority of businesses do not last past a decade. After the first five years, only about 50 percent of businesses still survive. One of the major factors affecting small businesses is staying legally compliant. From selecting the right company structure to understanding local laws, legal compliance will prevent tax issues, problems with information privacy, and an…
Tax Compliance Requirements Influencers Should Know in 2022
Ten years ago, social media was not as prominent as it is today. Influencers nowadays can make money on social media on all currently available platforms. Although there is a huge opportunity to make a lot of money online, there are still tax implications that many influencers must abide by. Learn Tax Compliance Requirements Influencers…