The IRS prefers you file your taxes electronically, but the penalties for late filing and errors are harsher than for taxpayers who file on paper! So should you e-file? That’s the question many taxpayers and CPAs are asking, and the answers aren’t quite clear yet. 

Before you tell your kids or grandkids that video games and social media will rot their brains, you might want to find out if they’re making any money from it. Video and streaming services like YouTube and Twitch are enabling young people (20-somethings, teens and even younger) to become millionaires by just playing video games, opening up new toys, applying makeup and doing other “useless” things. If you don’t believe us, ask the kids! 

Tax code changes have led to a wealth of advice for small business owners hoping to take full advantage. But one-size-fits-all advice rarely works. One such piece of advice is directed at qualified small business corporations (QSBC), claiming tax-free gains on shares that are sold (such as when the owner exits the business). A few important stipulations are often overlooked, though

Tax code changes have led to a wealth of advice for small business owners hoping to take full advantage. But one-size-fits-all advice rarely works. One such piece of advice is directed at qualified small business corporations (QSBC), claiming tax-free gains on shares that are sold (such as when the owner exits the business). A few important stipulations are often overlooked, though

The IRS recently issued a warning about a new scam aimed at international taxpayers and non-resident aliens. If you’re an international taxpayer, be on the lookout for fake IRS Form W-8BENs soliciting detailed personal identification and bank account information

As your net worth grows, many financial advisors will tell you it’s time to diversify your portfolio with alternative investments. These assets can include gold, real estate, and even startups. Before jumping in, though, talk to your tax advisor

. The amount you invest and how you invest it can affect your tax bill. Here are some considerations when it comes to popular alternative investments:

At some point, every small business experiences growing pains when it comes to “keeping the books.” It doesn’t take much for payroll and other expenses to get complicated. In fact, one of the first things we do when small businesses hire us is to help the business owners regain control of their books and payroll. Doing so can not only find money you’ve left on the table, but it can help you avoid steep IRS penalties, too.

Is it really the IRS calling? Probably not. An increasing number of taxpayers are becoming savvy when it comes to detecting when an IRS call is legitimate. But then, just as you can count on death and taxes, you can count on criminals changing up the game. This latest scam proves it

Do you reward your philanthropic employees? Maybe you should. A Cone Research study found two-thirds of millennials will only work for organizations with strong corporate social responsibility (CSR) values, including a culture of giving back. There are many ways to incorporate giving into the workplace including traditional gift matching, volunteer work days, pro bono projects, among others. The IRS will even reward you with tax deductions if you follow certain rules. Here are a few

Did you know that Texas recently legalized the sale of medical marijuana? For now, it’s limited to certain low-THC cannabis oils for seizure patients only, but it could be a sign of changing times for the big business of cannabis in the Lone Star State.