Maximizing Gift Deductions for Employees While Staying IRS Compliant

The IRS allows businesses to deduct up to $25 per employee per year for gifts. While this may seem like a small amount, there are legal ways to ........

Roles of a Tax Preparer: More Than Just Data Entry

When people think of a tax preparer, they often picture someone plugging numbers into a software program. But in reality, a tax preparer's role goes far beyond data entry. They serve as trusted financial.......

IRS Form 8898: What It Is and Why It Matters

If you're moving to or from a U.S. territory like Puerto Rico or Guam, you might need to file IRS Form 8898. But what exactly is it, and why should you care? Let's break it down in simple terms.....

Why is a tax organizer so important?

A Tax Organizer is a valuable tool for both tax professionals and taxpayers, making the tax filing process more efficient, accurate, and stress-free.

Amend the Return or Supersede the Return? Let’s Clear It Up!

A very common question that is often raised when making changes in a tax return is “when to file an amended return and when to....

What is Disregarded Entity?

Disregarded entities are those business entities which are separated from its owners but everything of the disregarded entity flows through the owner for the US tax purposes. So.....

Form W-8 BEN: Important to know about this for non-US residents who generate income from USA.

Generally US government taxes non-residents for income sourced out of USA at 30%. But if.....

What if you can't pay your taxes?

If you can’t pay your taxes, don’t panic - The IRS offers payment alternatives if taxpayers can’t pay what they owe in full. But remember one thing, to qualify for that plans, first of all you must have filed your tax return on time.