Thinking of starting a business? One of the most important first steps for new entrepreneurs and future business owners is to ensure the right business structure is chosen. That’s not all though, there’re a few other tips and best...
Many people have hobbies – things they enjoy doing in their spare time – and some even make a little extra money from them. However, there’s a difference between a hobby and a business, especially how each is treated...
Even though the tax filing deadline for tax year 2025 passed a couple weeks ago, it’s not too early to start planning for next filing season. Planning now can help taxpayers avoid surprises next year. One action that can...
Before filing a federal tax return, taxpayers should make sure they have the necessary and correct documents. Here’s what taxpayers should do if they haven’t received their Form W-2 or Form 1099 yet. Taxpayer options for missing documents Contact...
I wanted to bring to your attention recent IRS guidance (Notice 2025-69) regarding new federal income tax deductions for “qualified tips” and “qualified overtime compensation” for the 2025 tax year. These deductions were introduced by the One, Big, Beautiful...
Taxpayers who requested an extension to file have until Oct. 15, 2025, to do so, and some may choose to hire a tax return preparer. Those who do need to understand how to choose a tax preparer wisely and...