by Mary Philipps | Aug 11, 2021 | Bookkeeping, Small Business, Taxes, What is Hot
Ways to Prepare for Higher TaxesPresident Biden is pushing an agenda of raising taxes on corporations and the wealthy to help fund proposed bills for infrastructure and social safety net programs. Under his plans, the corporate tax rate could increase from …Kiplinger...
by Mary Philipps | Jul 27, 2021 | Taxes, What is Hot
Important changes to the Child Tax Credit will help many families get advance payments of the Child Tax Credit starting in the summer of 2021. Half the total credit amount will be paid in advance monthly payments and you will claim the other half when you file your...
by Mary Philipps | Jul 23, 2021 | Small Business, Taxes, What is Hot
How is Cryptocurrency Taxed?Cryptocurrency has headlined many news articles, served as the subject of social media posts, and gained significant traction in mainstream culture. Bitcoin, the first digital currency, has grown exponentially in recent years …Kiplinger...
by Mary Philipps | Jul 13, 2021 | Taxes, What is Hot
Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will claim the other half when you file your...
by Mary Philipps | Mar 18, 2021 | Small Business, Taxes
Have you heard the phrases “marginal tax rate” (or tax bracket) and “effective tax rate” and wondered what the distinction is between them? In order to explain the difference, it is first important to note that in the United States, we do not pay a flat tax – we are...
by Mary Philipps | Feb 25, 2021 | Small Business, Taxes
When you think about a nonprofit, the first thing that often comes to mind is that it is tax-exempt. Most nonprofits are not subject to federal, state, and local income tax. Does that mean nonprofits are completely free of ANY tax liability? The answer to this is...
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