The Independent Contractor Guide: 1099 Taxes Explained
Did you know that whether you’re an employee or an independent contractor, you pay for Medicare and Social Security through taxes? As an employee, you pay for it before you get your check. As an independent contractor, you pay for it after you receive all your revenue. This makes 1099 taxes more overwhelming than W-2 […]
Tax Return Extension Basics: How to Avoid Overpaying the IRS
You might owe taxes, but you’re not ready to file yet. So you file a tax return extension with the IRS. Now you have time to relax and pay later… right? Wrong. Don’t fall for that trap. The internet is full of people telling you that a tax extension gives you extra time to […]
Finding the Top Audit Firms for Your Business
Have you tried to get a loan for your business and the bank had the nerve to question the validity of your financial statements? Are you in need of an external audit for your business? All because someone had the nerve to question the validity of your financial statements. Don’t take it personally. It’s a […]
HSA Audit Warning Signs and How to Stop Them
Opening a letter from the internal revenue service is an instant headache. Usually, it’s a Notice CP2000, the standard automated letter the IRS sends when their computers think you forgot to report your hsa distributions on your tax return. These unexpected notices can be extremely stressfull, especially if you assumed your tax professional handled everything […]
Financial Advisor vs Accountant: Who Should You Hire?
If you have ever asked yourself whether you need a financial advisor vs accountant, you are not alone. Many small business owners and families think a certified public accountant and a financial advisor are the exact same thing. While their knowledge might overlap, they actually handle completely different sides of your money. Think of it […]
LLC vs S Corp vs C Corp: Choosing the Right Structure
Starting a new business brings an exciting wave of decisions, especially when it comes to choosing between different business structures. If you are like most small business owners, you have probably found yourself staring down a classic LLC vs S Corp vs C Corp: Choosing the Right Strategy for Your New Business Starting a new […]
How to Use 2026 Tax Brackets to Lower Your Taxable Income
Don’t let the fear of ahigher tax bracket stop you from making more money. There’s a huge myth out there that crossing a new threshold means the federal government suddenly taxes your entire income at a much higher rate. Thankfully, that’s just not true. The U.S. uses a progressive tax system, which means your money […]
Tax Refund Advance: Advantages & Disadvantages
You file your taxes, and suddenly you’re stuck in the ultimate waiting game with the IRS. That’s why you see so many flashy ads for a tax refund advance online the second tax season rolls around. Essentially, a tax refund advance, a tax refund anticipation loan, is just a shortcut to your own money. It […]
Original Issue Discount (OID): Everything You Need to Know
Have you ever bought a bond for less than its face value? It feels like getting a great deal. You pay a discounted price now. Then, the company pays you the full amount later. In the world of corporate finance, this is known as an Original Issue Discount (OID). But before you celebrate that higher […]