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IRS Warns about a New Scam Related to Clean Energy Tax Credits
The Internal Revenue Service (IRS) issued a warning Wednesday cautioning taxpayers to beware of a new scam involving the purchase of clean energy tax credits. The IRS said it's seeing cases where unscrupulous tax preparers misrepresent the rules for claiming clean...
What is a SIMPLE IRA Account?
SIMPLE stands for Savings Incentive Match Plan for Employees, indicating that both employers and employees contribute to the plan. ➡️ Employees have the option to defer a portion of their salary into their retirement account, and employers can choose to match that...
SEP IRA Accounts: Understanding its Functionality
A SEP IRA, or Simplified Employee Pension Individual Retirement Account, is a type of retirement plan designed to assist business owners and self-employed individuals in saving for retirement. It functions similarly to a traditional IRA, as contributions are...
Considering a New Job? Implement these Financial Strategies
Are you starting a new job? While you may be focused on the work aspects of your new position, it’s important to recognize that this also marks a significant financial transition beyond just a salary change. Mastering this transition and ensuring you don’t leave any...
The Three Essential Components of Successful Saving
It is widely recognized that saving for the future is essential, and it is crucial to start this process as early as possible. Regardless of your age or the distance to retirement, the goal is to ensure a comfortable and enjoyable retirement. We share three essential...
Do You Know the Benefits SBA Loans Have to Offer?
➡️ Small business loans are one of the ways new entrepreneurs can get the financial support they need. The Small Business Administration (SBA) offers resources, including loans, to business owners to help them succeed and grow. If you are starting a new business or...
Why is My Business Credit Score Important?
📝 Lenders, suppliers, insurers and other organizations can use business credit score to help make decisions about working with your business. A business credit score that indicates low risk can help your business obtain better interest rates on credit cards, loans and...
Here are Some Important Changes to the 2025 Tax Code
🔎 Several provisions of the Tax Cuts and Jobs Act (TCJA) of 2017, enacted by former President Donald Trump, are set to expire at the end of 2025, without changes from Congress. The law included lower tax brackets, a higher standard deduction, and a boost to the child...
Hiring Your Kids Can Bring You Tax Benefits
➡️ Small businesses hiring their own kids is a popular topic among social media influencers, but here we answer some questions to avoid misinformation about such posts. Must-Know Issues 🔹Wages can be deducted as a business expense, which can lead to significant...