Introduction If you’re selling on Amazon through the FBA (Fulfillment by Amazon) program in 2025, you’re running a real business and that means tax obligations. From reporting your income...
(Tax Year 2024 – To Be Filed in 2025) Overview Not everyone working for a business receives the same tax form. The IRS requires employers to issue Form W-2...
Introduction Capital gains tax can significantly reduce your investment returns if not managed strategically. Whether you’re selling stocks, real estate, or crypto assets, understanding how to minimize or defer...
Introduction Many retirees are surprised to learn that Social Security benefits may be taxable. Depending on your total income, up to 85% of your Social Security could be subject...
Introduction Once you reach a certain age, the IRS requires you to begin withdrawing a minimum amount each year from most retirement accounts. These Required Minimum Distributions (RMDs) are...
Introduction Inheriting an IRA can come with unexpected tax consequences—especially after the changes introduced by the SECURE Act and SECURE 2.0. Whether you’ve inherited a Traditional IRA or a...
Introduction If you had high medical expenses in 2025, you might be able to deduct them on your tax return and reduce your taxable income. The IRS allows you...
Introduction The home office deduction allows self-employed individuals to deduct a portion of their home expenses when they use a dedicated workspace for business. According to IRC § 280A,...
Introduction As a self-employed taxpayer, you are responsible for paying self-employment tax and reporting all business income. However, the IRS allows business deductions to help reduce Adjusted Gross Income...
Introduction Financial statements provide crucial insights into a company’s profitability, cash flow, and overall financial health. However, many businesses make common mistakes when preparing financial statements, leading to inaccurate...