It seems that you can find a study about just about anything these days. I was readying about a study that was done at the University of Michigan, using data from the U.S. Treasury Department to determine if it matters whose name is listed first on a tax return.
One of the more interesting questions I get now and then is "I heard that I can hire my kid and save on my taxes. Is that true?" The answer to that is yes - IF you follow the IRS rules. I think their is a better reason to hire your children, though. It is the best education they can learn to prepare them for life after they move out of your house - from either an employee's point of view or a business owner's point of view or both.
Here’s what you need to know.
An IRS chief counsel recently issued advice (CCA-2025-11015) that describes five situations in which taxpayers were victimized by scammers.
As the tax deadline looms, the scramble to gather receipts, calculate expenses, and fill out forms can be incredibly stressful. But what if you could simplify this process, save money, and even get expert help—all at the last minute? Enter QuickBooks, the ultimate solution for your tax preparation needs.
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Despite the news about all those new IRS agents, the truth is that the IRS has audited significantly less than 1% of all individual returns in recent years. Hiowever, if you file a Schedule C to report profit or loss from a business, your odds of drawing additional scrutiny goes up significantly.
Property tax rates are on the rise nationwide, creating challenges for many homeowners, including retirees. Data shows that last year’s property tax bills increased up to 30% in some places.
If you own a home, you can't avoid property taxes altogether without risking penalties. However, some strategies and programs, an lower your property tax bills and help your budget.
According to the Financial Crimes Enforcement Network (FinCEN), small businesses do not need to file beneficial ownership reports despite a recent U.S. Supreme Court ruling lifting a lower court injunction blocking the reporting requirement, according to a federal agency.
There has been a lot of political talk lately about no longer taxing Social Security payments. (Like they promised when it was created back in the Roosevelt administration.)
Last week, a dozen GOP lawmakers introduced the Fair Tax Act of 2025. The bill proposes to abolish the IRS and repeal all personal and corporate income taxes, the death tax, gift tax, and payroll tax.
In a pivotal development for businesses nationwide, the 5th Circuit Court of Appeals has stayed the Texas District Court’s preliminary injunction, which had temporarily paused the enforcement of the Corporate Transparency Act (CTA). This decision reinstates the January 1, 2025, filing deadline for companies to comply with the CTA’s Beneficial Ownership Information (BOI) reporting mandate.
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction temporarily halting the enforcement of certain reporting requirements under the Corporate Transparency Act (CTA).