Choosing the Right Tax Filing Status: A Guide

Choosing the Right Tax Filing Status: A Guide

When it comes time to file your taxes, your filing status is a crucial choice that affects whether you need to file a return, your standard deduction, and the amount of tax you owe. Your filing status also determines eligibility for certain deductions and credits....

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Form 8300 – What Is It and Who Needs to File?

Form 8300 – What Is It and Who Needs to File?

Taxpayers involved with cash intensive industries, like cannabis, need to be aware of additional filing requirements with the Internal Revenue Service (“IRS”) and the Financial Crimes Enforcement Network (“FinCEN”) when receiving cash.  Those who fail to comply face...

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The IRS Tax Withholding Estimator

The IRS Tax Withholding Estimator

Federal income tax withholding is key to avoiding unexpected tax bills at year's end. Your employer plays a significant role in this by deducting taxes based on your earnings and the information you provide on Form W-4. Understanding this process and using tools like...

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Why You Need an IRS Online Account

Why You Need an IRS Online Account

Taxpayers involved with cash intensive industries, like cannabis, need to be aware of additional filing requirements with the Internal Revenue Service (“IRS”) and the Financial Crimes Enforcement Network (“FinCEN”) when receiving cash.  Those who fail to comply face...

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IRS Business Tax Account

IRS Business Tax Account

Setting up an Internal Revenue Service (IRS) Business Tax Account is a helpful way to view tax information.  It can save you time and frustration from having to wait on the phone with the IRS. Depending on the type of business you participate in, you will have access...

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New Property Taxes for Short Term Rentals in California

Self-Employed Retirement Plans

Traditional or Roth IRA An individual retirement account (IRA) is one of the simplest options with lower contribution limits. The main difference between a Traditional and a Roth IRA is how and when you get a tax break. With a Traditional IRA, you may be able to...

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