In the world of employee compensation, stock options and stock units are powerful tools used by companies to attract and retain talent. Understanding the nuances between Incentive Stock Options (ISOs), Non-Qualified Stock Options (NSOs), and Restricted Stock Units (RSUs) is essential for employees and employers alike. Each type of stock compensation has its own [...]
Taxes are inevitable, but sometimes, paying them all at once isn't. Whether you're facing unexpected financial hurdles or simply need more time to settle your tax debt, the IRS offers payment plans to help ease the burden. In this guide, we'll walk you through the process of setting up a payment plan with the [...]
Summer is here, and you may be ready to hit the pool, enjoy a BBQ, or just relax in the sunshine. As you enjoy the warmer and longer days, keep in mind that some of your undertakings may impact your 2023 taxes. If you participate in any of the below summertime activities, make sure [...]
Opening a small business can be incredibly gratifying. You can pursue your own passion. You can set your own hours and be your own boss. You can enjoy the confidence and independence that comes with being an entrepreneur. However, managing the finances and tax burden of a small business can be challenging, especially if [...]
Tax documents are likely hitting your mailboxes and inboxes, and as you receive W-2s, 1099s, and other documents, you may be tucking them away for your tax preparer. Even if you do your own taxes, many programs allow you to upload your documents, and the program will review and input information for you, without [...]
The weather is getting warmer. The days are getting longer, and the seasons shifting can only mean one thing: tax season is here again. Shifting from pandemic-specific tax rules that applied in 2021 into a post-Inflation Reduction Act world may be causing some confusion for taxpayers. What credits still apply? Which don’t? How will [...]
When a spouse, friend, or relative passes away, tax considerations are the last thing on our minds. Many of us are focused on the grief of loss and immediate funeral or memorial considerations. It may be helpful to work with a tax professional during this difficult time, such that someone else can manage the intricacies [...]
Your Take-Home Pay May Increase Under New 2023 Tax Rules By: Stacey Nickens With inflation on the rise, the IRS has expanded tax brackets, increased certain credits, and raised the standard deduction for the 2023 tax year. These changes could decrease many Americans' tax burdens by allowing more taxpayers to remain in lower income [...]
Tax Credit Changes Under the Inflation Reduction Act By: Stacey Nickens On August 16, 2022, President Biden signed the Inflation Reduction Act into law, enacting legislation designed to combat climate change, support clean energy, and raise tax revenue. The new legislation increases corporate tax rates, offers additional tax credits or expands existing ones, and [...]
5 Tax Considerations for Self-Employed Individuals By: Stacey Nickens Deciding to become your own boss can be incredibly meaningful and freeing. As a self-employed person, you have much more control over your day-to-day schedule, your business structure, and so much more. At the same time, costs that were previously covered by an employer now [...]
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