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What is the Modified Adjusted Gross Income (MAGI)?
Income

What is the Modified Adjusted Gross Income (MAGI)?

The Internal Revenue Service (IRS) uses the Modified Adjusted Gross Income (MAGI) as a measure to determine whether a taxpayer qualifies for certain contributions or …

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10 Ways to Help Your Business Survive a Recession
Recession

10 Ways to Help Your Business Survive a Recession

An economic recession is a notable decline in the economy, which lasts for some time and affects the Gross Domestic Product (GDP), industrial production, real …

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Gain The Best Competitive Strategies In Your Business
Buisness

Gain The Best Competitive Strategies In Your Business

Standing out in a crowded market is the goal of every growing business in competitive industries. Yet, a competitive edge doesn’t happen overnight. Developing competitive …

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What is the American Rescue Plan? | What to Know
Tax Credits

What is the American Rescue Plan? | What to Know

The health and economic crisis has negatively affected the well-being of millions of Americans. Most importantly, low-wage workers, certain minority groups, and immigrants are going …

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How to Create and Manage a Gambling Diary
Income

How to Create and Manage a Gambling Diary

It is essential to know how to create and manage a gambling diary. You can encounter many issues with the IRS in the event of …

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Advance Child Tax Credit
Tax Credits

Advance Child Tax Credit | What You Need to Know

On July 15th, 2021, the IRS began sending out the first round of Advance Child Tax Credit (ACTC) payments. These payments were designed as a …

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Which Gifts are Considered Taxable Income?
Uncategorized

Which Gifts are Considered Taxable Income?

It is essential to know which gifts are taxable income, as the IRS can impose steep penalties for misreporting income.

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Payroll Tax | What You Need to Know
Buisness

Payroll Tax | What You Need to Know

A payroll tax is a tax an employer deducts from the paychecks of his or her employees to pay to the IRS on the employee’s …

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Estate Taxes and Trusts | What You Need to Know
Taxes

Estate Taxes and Trusts | What You Need to Know

The concept of trusts and estate taxes can be an uncomfortable and often complicated topic that most would rather avoid. It is, however, sometimes necessary …

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Outsourcing Payroll Can Make You Big Money
Buisness

4 Awesome Reasons Why Outsourcing Payroll Can Make You Big Money

To run a successful business, small business owners are responsible for many things, including the creation of the name of the business, the organizational structure, …

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Importance of a SWOT Analysis for Small Business
Buisness

Importance of a SWOT Analysis for Small Business

A SWOT analysis is an incredibly powerful tool in developing an effective business strategy. It is useful for all types of business!

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What to Do If You Receive Letter from the IRS
Uncategorized

What to Do If You Receive a Letter from the IRS

Each year the IRS (Internal Revenue Service) mails many notices and letters to taxpayers for a variety of reasons. It’s important that you do not …

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7 Things the IRS Doesn't Want You To Know cover

7 THINGS THE IRS DOESN'T WANT YOU TO KNOW

Download our guide to ensure you know everything you need to and are prepared to deal with the IRS.