If you have noticed tax preparation fees going up, you are not alone. According to the National Association of Tax Professionals' most recent bi-annual Tax Professional Fee Survey, prices for new clients increased by an average of 25%, while fees for existing clients rose by 22.7% between 2021 and 2023.

When planning major equipment purchases, business owners often face a crucial tax planning decision: whether to make the purchase this year or the next. This decision primarily revolves around several key factors, with the most significant being the tax rate differential between the two years. When tax rates are equivalent or similar, the decision becomes […]

Receiving a cash settlement from a medical malpractice case can be a huge relief after what is usually a long and protracted process. But before you spend it, make sure you’re aware of any tax impacts it may have. The good news is that most of the payment will most likely not be taxable. A […]

An important aspect of tax compliance for business owners is the requirement to file a 1099 for certain payments made during the normal course of business.  If you are a business owner, below is a summary of what you need to know. What is a 1099? A 1099 is an IRS form that tells the IRS who […]