What Small Business Owners Need to Know About 1099s
If you work with independent contractors, knowing when, why, and how to issue a 1099 is an integral part of your business. Forgetting or mishandling this crucial step will eventually […]
What to Do If You’re Audited by the IRS
The IRS has sent you a letter- and it’s not great. You’re being audited. For many Americans, the idea of an audit is terrifying. Will you have to pay heavy […]
Maximizing Tax Deductions for Freelancers and Independent Contractors
Being your own boss is incredibly rewarding. You can choose your schedule and work on your own terms. However, the tax implications of being self-employed can seem daunting. A simple […]
How to Manage Your WSOP 2023 Winnings
The 2023 World Series Of Poker (WSOP) attracted a record number of players. The Main Event amassed a whopping $93.3 million prize pool, the largest prize pool in live tournament […]
Employee Retention Credits for Businesses
I wanted to reach out and make sure you have access to this information. The Employee Retention Credits for Businesses Program provides companies with up to $5,000 per employee for […]
Casino Winnings
Every year, lucky gamblers strike gold in Las Vegas. Whether you hit a slots jackpot or win a fortune playing table games, winning big can be electrifying. However, as every […]
The Top 5 Tax Deductions Every Business Owner Should Know About
Business owners can take advantage of a range of deductions to minimize their tax burden. Knowing what these deductions are keeps you informed and reduces your tax liability. Here are […]
Missed the Deadline? Here’s What to Do About Your 2022 Taxes
If you missed the deadline to file your 2022 tax return, you may wonder what will happen next. Is the IRS going to contact you? Will you have to pay […]
WSOP 2023: ITIN Issues Persist for Nonresidents
World Series of Poker (WSOP) 2023 just kicked off at the Paris and Horseshoe casinos. From daring bluffs and impossible folds to record-breaking pots, the WSOP is a time of […]
WSOP 2022 Update: Nonresidents Face ITIN Issues
If you have been to the WSOP this year, you have probably noticed many changes from past years. There are two new venues, larger rooms and new tournament chips. However, […]
IRS Increases Standard Mileage Rates Mid-Year
The IRS announced it will increase the standard mileage rate to 62.5 cents per mile for business activities, a 4 cent increase from the earlier in the year, beginning on […]
Michigan Allows Gambling Loss Deduction for 2021
Prior to 2021, Michigan was one of the few remaining states that did not allow recreational gamblers to deduct gambling losses on the state level (this includes losses related to […]
