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…
Do SBA Loans Affect Personal Credit Score? (Answer May Surprise You)
If you’re one of the 627,000 new businesses that open each year in the United States, you may have considered taking out a loan. Taking out a loan can give your business the resources it needs to grow to the next level. But do business loans affect your personal credit score? The short answer to this question…
S Corp Dissolution: 12 Steps to the Complete Process
There are currently more than 32.5 million businesses operating over the United States. Each of these offers unique services and products to its customers, as well as employment opportunities for the local community. However, with more new business applications being submitted in America than ever before, your competition is fierce. Because of this, only 50% of new businesses will survive…
California State Income Tax: A Guide for 2022
California is a beautiful place to live, but living in the Golden state comes with a complicated income tax system. In fact, California’s tax system varies significantly from the federal tax system in many different ways. For example, this state has its own deductions and credits that you may benefit from, especially with the new…
How to Keep Meeting Minutes for a C Corp? (Ultimate Guide)
There are tons of different types of business structures out there. There are C Corps, S Corps, LLCs, LLPs and sole proprietorships, to name a few. However, an C Corp is one of the most popular forms of business, with roughly 1.7 Million C Corps in the United States. These businesses offer tons of different benefits…
Cryptocurrency Tax Guide: How Do Taxes Work With Crypto?
Before you start investing in crypto, you need to understand the tax implications associated with it. Cryptocurrency tax laws aren’t fully established as of yet, and regulations regarding this brand new asset class are changing all of the time. One thing is certain, though. You will need to pay taxes on cryptocurrency investments when you…
Are Tax Return Preparation Fees Tax Deductible?
1 in 3 Americans procrastinate when it comes to doing their taxes. The most common reason for procrastination is that filing taxes is too time-consuming and complicated. But with tax day less than two months away, it’s best to begin your tax return preparation now. Tax laws and regulations change from year to year, so starting now will…
Tax Amendment: What Is an Amended Tax Return?
Taxpayers in the U.S. pay an average of $15,322 each year to the IRS. Doing taxes can be a tricky endeavor indeed, particularly if your financial situation is more complicated than simply having a W-2 job. It’s essential to pay the right amount in taxes in order to escape severe consequences. However, no one wants to pay…
An In-Depth Guide to Itemized Deductions
Most of you have seen questions on your tax forms or preparation software that asks whether you want to take the standard deduction or if you want to itemize. From there, you likely asked yourself what standard and itemized deductions are. We are here to answer that question and help you figure out when to…
Is a Student Loan Tax Deductible?
Did you know that the total amount of student debt in the U.S. is $1.73 trillion? The national average for student loan debt is $28,950. Many Americans choose to invest in their education in order to have more opportunities in the future. However, higher education has been getting more and more expensive over the years. In…