When it comes to refinancing your rental property, there are a lot of factors to consider, not just for securing a better interest rate or loan terms, but also when it comes to tax implications. For real estate investors and property owners, understanding how refinancing can impact your taxes is
How to Apply for an FEIN
If you’re starting a small business or making changes to an existing one, you’ve likely heard about the Federal Employer Identification Number (FEIN). But what is it, and how do you apply for one? This guide breaks down everything small business owners need to know about FEINs and how to get one
Do S Corporations and LLCs Need to Handle 1099s?
If you run a small business, managing 1099 forms can be confusing. Do you need to issue them to contractors? Should your business expect to receive any? And how do rules differ for S corporations and LLCs? This guide will clarify the key requirements and help ensure your business stays compliant
Tax Deductions for Contributions to a Traditional IRA
Contributing to a Traditional Individual Retirement Account (IRA) not only helps you save for retirement but can also reduce your taxable income, providing immediate tax benefits. However, the availability and size of the tax deduction depend on factors such as your income, filing status, and
Understanding the Standard Deduction for 2024
The Standard Deduction is a cornerstone of the U.S. tax system, designed to simplify the process of filing taxes and ensure that every taxpayer has a baseline amount of income that is not subject to federal income tax. For 2024, the Standard Deduction has increased once again to account for
What is the Taxpayer Advocate Service (TAS)?
The Taxpayer Advocate Service (TAS) is an independent organization within the Internal Revenue Service (IRS) that assists taxpayers who are experiencing difficulties with the IRS that they cannot resolve through normal channels. It acts as a voice for taxpayers, ensuring their rights are protected
How to Get Ahold of a Live Person at the IRS
For many taxpayers, navigating the complexities of the Internal Revenue Service (IRS) can feel like an uphill battle. Whether you’re worried about your upcoming taxes, following up on a return you’ve already filed, or trying to make sense of a letter you received, speaking to a live person can
Comparing the Costs and Benefits of Different Medical Accountants
In the highly regulated and financially complex world of healthcare, choosing the right medical accountant is as critical as selecting the right medical equipment. Medical accountants specialize in managing the unique financial needs of healthcare providers, from regulatory compliance to tax