Supply Chain Hiccups & Your Tax Bill
How about that supply chain? With continued hiccups, businesses that are otherwise rebounding quite well are finding themselves in surprising binds. If you’re among them, you’ve likely had to pivot more than usual to get your products and services to your customers. Some of those pivots have hidden costs, and others come with unexpected tax […]
It’s Time to Start Preparing Your Taxes!
Yes, it’s already time to prepare for tax season! It’s always best not to wait until the last minute to get organized. Even the IRS is gearing up earlier than usual—announcing a Jan. 24 start to tax filing season. The IRS anticipates extended delays and even worse than usual “customer service” this tax season. Plus, […]
IRS Lessons from Charlie Sheen, Prince, and Chris Tucker
Prince’s estate just cleared a big hurdle, Charlie Sheen recently sued the IRS in a last-ditch effort to keep his earnings, and Chris Tucker got hit with a new blow from the IRS after an already 20-year tussle. Let’s look at some of these famous tax battles and how they may hold lessons for the […]
Your Retirement in 2022
Retiring soon? You’re not alone. Principal Financial Group reports that 11% of workers plan to retire or leave the workforce in 2022. But don’t let last year’s planning throw this year’s retirement off[1]kilter. There are several changes in both Social Security benefits and IRS rules for retirement plans worth noting: Full retirement age has increased. […]
Avoiding Payroll Tax Surprises
Business owners in the construction industry need to adjust their workforce continually, which can lead to complicated payrolls. The IRS and the state of Texas have a vested interest in you getting payroll right, though, because employment taxes are a huge source of revenue for them…. Click To View