One of the most important rules for S-Corporations is setting reasonable compensation for S-Corp owners. This requirement determines how much salary you must pay yourself before taking […]
Reasonable Compensation for S-Corp Owners: A CPA’s Guide
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Always Owe at Tax Time? W-2 Earners: Here’s How to Fix Your W-4
Tired of owing taxes every April even though you have a full-time job? If you’re a W-2 wage earner — especially married with more than one job […]
Why S Corporations Aren’t Always a Smart Move
S Corporations are often marketed as a magic tax-saving tool. From viral TikTok videos to well-meaning accountants, it’s easy to get the impression that electing S Corp […]
Military Tax Tips for Service Members in the DMV
Military families in the DMV region (DC, Maryland, Virginia) face unique challenges at tax time — from PCS moves to combat pay exclusions to navigating joint filings […]
The Tax Benefits of Owning a Home
One of the main reasons people purchase a home is the psychological satisfaction in owning a home. Not only can owning a home be rewarding in its [...]
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IRS Penalties: Failure-to-File & Pay | CPA Stafford VA
If you live in Stafford, Fredericksburg, or Northern Virginia, understanding IRS penalties is essential. Whether you file late or cannot pay on time, the IRS can assess […]
Comparison of various form of entities when starting new business
Comparing Business Entity Types: Which Structure is Right for You? Before starting a new business, one of the first and most important decisions you’ll make is choosing [...]
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IRS Opens Address Change Portal for Advance CTC Payments – Did You Know?
IRS Opens Address Change Portal for Advance CTC Payments – Did You Know? The IRS has launched a new address change feature in the Child Tax Credit [...]
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Tracking Tips income – Did You Know?
Tracking Tips Income: What Service Workers Need to Know If you work in restaurants, salons, hospitality, or any job that includes tipping, it’s important to understand how [...]
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What To Expect From IRS Cryptocurrency Audit
What To Expect From an IRS Cryptocurrency Audit — And How to Avoid One Cryptocurrency Audits are becoming a growing priority for the IRS as digital assets [...]
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Economic impact payments: What you need to know
The IRS and Treasury launched Economic Impact Payments (EIPs) in 2020 to provide relief during the pandemic. While these stimulus payments have ended, taxpayers who never received [...]
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