If you earn income as a freelancer, independent contractor, or from a side gig, you'll likely do so as a sole proprietor or single-member LLC and report your income on...
The IRS issued Revenue Ruling 2023-02, which clarifies the treatment of assets in irrevocable grantor trusts for tax purposes. This ruling aims to curb potential abuse of the stepped-up basis...
Once you get above a certain age, you start hearing about a magical thing called a credit score. You hear that everybody has one and that you need to do...
✅ Key Takeaways: Identity Verification Process with the IRSIRS identity verification letters are triggered by suspicious return patterns or inconsistencies in filing.Common triggers include changes in address, refund amounts, dependents,...
Authored by: W. Dale Westenskow, CPA, Haynie & Company Partner Is It Time For A Roth Conversion? It looks like the wealthy are on track for a tax increase under President Joe...
The SALT deduction has been a longstanding benefit for taxpayers who pay state and local taxes. However, recent limitations to the SALT deduction have left taxpayers in high-tax states looking...
Adding your kids to your bank account or home deed can create a host of legal, financial, and tax issues that can leave you and your loved ones vulnerable to...
If you are an employer or benefits administrator, it is important to stay up-to-date on the latest benefit plan limits and thresholds to ensure that your plans are in compliance...