ENTREPRENEURS CAN LEARN FROM THE OVERNIGHT SUCCESS STORY OF WORDLE
Few things have captured the attention of so many people in recent memory like the word-based game Wordle. It's one part crossword, one part Sudoku — players have to guess the word of the day through equal parts strategy and luck. Based on their guesses,...
SOLD OR THINKING OF SELLING YOUR HOME?
Article Highlights: Home Sale Exclusion 2 out of 5 Rule Business Use of the Home Gain or Loss from a Sale Previous Use as a Rental Form 1099-S IRS Matching Records If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to...
YOUR SMALL BUSINESSES CAN BENEFIT FROM THE WORK OPPORTUNITY TAX CREDIT
FIND OUT HOW: Article Highlights: What is the Work Opportunity Tax Credit? Maximum Credit Who Can Claim the Credit? Qualified Employees Pre-screening and Certification Tax-exempt Employers The Work Opportunity Tax Credit (WOTC) is a general business credit that is jointly administered by the Internal Revenue Service (IRS) and the Department of Labor (DOL)....
STUDENT LOAN DEBT – PAYING AND AVOIDING IT, PLUS TAX BENEFITS
Article Highlights: Tax Advantaged Repayment of Student Loans Employer Provided Educational Assistance Qualified Tuition Programs The Deductibility of Student Loan Interest Student Loans Forgiven in 2021 through 2025 Avoiding Student Loan Debt Section 529 Plans Coverdell Education Savings Account Education Tax Credits The American Opportunity Credit The Lifetime Learning Credit Despite recent rounds of forgiveness for thousands...
How the World’s Wealthiest and Most Successful Entrepreneurs Use Their Free Time
By Dillon Kivo January 24, 2022 Opinions expressed by Entrepreneur contributors are their own. Virtually anyone who has reached considerable success in life will readily admit that his or her habits play a big part in that. So if one wants to become like all the...
HOW WILL THE IRS MID-YEAR OPTIONAL VEHICLE MILEAGE RATE INCREASE AFFECT YOU
Article Highlights: Mid-year Increase Items Included in the Optional Mileage Rate What Can Be Deducted in Addition to the Optional Mileage Rate Switching Methods With gas prices soaring it has been expected the IRS would increase the mileage rate that business owners can deduct for vehicle use instead of keeping...
JUNE 15 IS AN IMPORTANT FILING DEADLINE
Article Highlights: Americans Living and Working Abroad Extension Requests Report of Foreign Bank and Financial Accounts (FBAR) Statement of Foreign Financial Assets Estimated Tax Payments Estimated Safe Harbors June 15 is the due date both for Americans living and working outside the U.S. to file their 2021 federal income tax returns and...
BEST PRACTICES FOR MANAGING YOUR BUSINESS THROUGH AN ECONOMIC DOWNTURN
The United States economy is nothing if not cyclical - which can be a good thing or a bad thing depending on when, exactly, you're trying to operate a business. According to one recent study, roughly 57% of small business owners say that they fear the...
Settling Tax Debt With an IRS Offer in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles a taxpayer's tax liabilities for less than the full amount owed. That's the good news. The bad news is that not everyone can use this option to...
You May Be Able to Donate Your Unused Employee Vacation, Sick, or Personal Leave to Ukrainian Relief
Article Highlights: · Forgoing Vacation, Sick, or Personal Leave in Exchange for Ukrainian Relief · Program Duration · Employee and Employer Tax Implications · IRS Notice 2022-28 There is a little-known disaster provision of the tax code that, where if an employer has adopted a leave-based donation program, the employees...