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Hobby Income vs. Business Income: What’s the Tax Difference

According to the IRS, hobby income differs from business income for tax purposes. You can offset expenses and losses through…

Dec, 29 | John B.
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Checklist to Choose a Tax Preparer for the Upcoming Filing Season

Tax season is approaching, and many taxpayers are looking for a professional tax preparer to get through a smooth tax…

Dec, 22 | John B.
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What Is the Social Security Tax?

Social Security Tax is for employers and employees to finance the Social Security Program in the United States. The Social…

Dec, 15 | John B.
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What Is Your Filing Status? This Determines Your Tax Liability

Knowing your filing status is crucial because it determines requirements, credits, deductions, and many more. More than one filing status…

Dec, 08 | John B.
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Interest Rates Increase for the First Quarter of 2023

The current inflation rate has been at an all-time high for the past 40 years. To avoid many negative consequences,…

Dec, 01 | John B.
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Be Aware of Tax Issues Caused by Making a Family Loan

Family loans can help and support family members, but it is crucial to be careful about potential tax implications. Informal…

Nov, 24 | John B.
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Checklist for Closing Your Business

It usually takes months to close a business appropriately. Business owners must follow a plan that protects their assets, reputations,…

Nov, 17 | John B.
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Home Office Deduction

Eligible taxpayers can deduct some home expenses when filing their taxes. To get this deduction, the taxpayers usually must use…

Nov, 10 | John B.
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6 Tax Planning Tips for End of Year

Planning your taxes before it is time to file will bring you a number of benefits. It will give you…

Nov, 03 | John B.

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