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
Pros and Cons of Internet Sales Tax
I know what you're thinking, "how can there be a 'pro' to a tax?" But that's exactly why the nuances of the internet sales tax might surprise you. Since it’s a state-level tax (not a federal one), there are regional differences and even potential tax trade-offs in other areas. Let’s explore some of
Can a Country Club be Deducted as a Business Expense?
When filing taxes, understanding which expenses are eligible for deduction is crucial. While country club memberships are generally not deductible, certain elements within a membership might qualify. General Deductibility Rules: Specific Deductible Expenses & Considerations: If you
Accountant Jokes (National Accountant Appreciation Day)
Yesterday was National Accountant Appreciation Day. In honor of that, we've decided to have a laugh at the expense of accountants. So here's a pretty great collection of worthy accountant jokes. You may have heard them before or maybe not. In any event, be sure to kick back and have a laugh:
Property Taxes: the Burden of Home Ownership in Seattle
For homeowners in Seattle, the costs don't stop after the staggering price of actually purchasing a house. In addition to shelling out hundreds of thousands for a roof over their heads, Seattle residents also face some of the highest property tax burdens of any major U.S. city. Just how high are
Demystifying IRS Audits for Small Businesses
Ah, tax season. A time of both frantic paperwork and, for some, a gnawing anxiety about the dreaded IRS audit. By this point, you've had your taxes filed, crossed your t's and dotted your i's, but the fear of an audit lingers. You want to know: when can I finally breathe easy? Can I book that summer