There are many consequences we can face if we fail to file our taxes or pay our due balance. These consequences can come in the form of interests and fines, for example. However, another consequence that can come as a result of serious tax debt is the revocation or denial of our passport. Even when…
Every tax season, fraudsters and scammers work their way into taking advantage of unsuspecting taxpayers who are worried about staying compliant with the IRS. That’s why the Internal Revenue Service is always sharing safety tips and information that we can use to protect ourselves from scams. Nonetheless, fraudsters keep finding ways to trick us into…
Self-employment taxes tend to be one of the biggest challenges for freelancers, startups, and anybody working from home or on a business of their own and are usually subject to higher Social Security and Medicare taxes. However, one great way to deal with these taxes and make them more manageable is by setting your business…
One of the most important responsibilities no business owner can ignore is complying with the corresponding tax duties we are required. In order to make sure our company remains compliant with IRS laws and regulations, we need to hire a business tax advisor that helps us with these duties. However, many business owners tend to…
Preparing for our retirement is one of the best, smartest financial decisions we must take care of. Giving an early start will only bring benefits in the long run. Which is why we should always consider one of the many strategies of tax planning for retirement. Knowing how each work will help us be more…
This year is coming to an end, and taking advantage of the time we have before tax season begins is one of the smartest decisions we can take. One of the most common questions we get is regarding the tax brackets, since many taxpayers may be confused about which one applies to them. Now, understanding…
The busiest weekend of the year is almost here, and we have a couple of weeks to start preparing. As thousands of people get ready to start taking advantage of all the specials, we should consider the crowds. Between the long lines, the running-out-of-stock items, and the struggle of finding a parking spot, suffering from…
For many workers, tips are an important part of their income, as many companies and businesses rely on them in order to cover the wages for their staff. If we count on tips as part of our income, we need to report them to the IRS, as we need to cover our corresponding taxes for…
Fire season in California usually happens between October and April, and the last couple of years have been particularly destructive. In order to make sure that we are protecting our homes and our families, there are several aspects we need to consider regarding fire damage and home insurance. The first aspect we need to know…
As business owners, traveling outside our city to meet with existing and potential clients is an important part of our company’s success, as it allows us to expand the reach of our brand and build strong relationships with our partners. However, this can represent a significant portion of our budget, as we need to cover…