How Small Business Owners Reduce Taxable Income
Reducing taxable income not only helps you retain more of your hard-earned money, but it’s also one of the best ways to find savings that can be reinvested in your business. This month, we wanted to step back to overview the most basic ways small business owners can reduce taxable income. First, it’s critical to […]
Spot These Tax Scam Signs Before It’s Too Late
Scammers are working overtime to separate honest taxpayers from their hard-earned money. These fraudsters are getting more sophisticated, moving beyond the obvious email phishing attempts to elaborate schemes that can fool even financially savvy individuals. Learn to recognize these common warning signs that could save you from becoming the next victim: Getting a bigger refund […]
‘Bitcoin Jesus’ Faces Tax Fraud Reckoning
Early investors of Bitcoin have fascinating tales to tell. None are more intriguing than Roger Ver’s, whose early success and evangelism of crypto investing earned him the nickname ‘Bitcoin Jesus’ and a giant IRS investigation into tax fraud. What lessons does his tale hold for other taxpayers? Ver jumped into Bitcoin in 2011, when the […]
Tax Considerations of Qualified Settlement Funds
Qualified Settlement Funds (QSFs), which can be an LLC or a Trust, are the unsung heroes of many legal settlements, offering significant potential tax advantages for both plaintiff parties and defendants. QSFs have an interesting history rooted in tax legislation and the need for more efficient handling of complex legal settlements. Over time, the use […]