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No Tax on Tips: What You Should Know
Tipping is a major source of income for many service industry workers, but tips are currently subject to federal income tax. Both Donald Trump and Kamala Harris have recently proposed…
Planning for Retirement: Tax Implications of Different Accounts
Planning for retirement involves much more than just setting aside money each month—it requires understanding the tax implications of the accounts you choose. Whether you’re contributing to a traditional 401(k),…
Social Security Taxes: What You Can Do to Minimize Them
For many Americans, Social Security benefits are a crucial part of retirement income. However, these benefits may be subject to federal taxes depending on your total income. Knowing how and…
Sole Proprietorship, LLC, S-Corp, or C-Corp: Which Is Right for Your Business?
Choosing the right business structure is crucial for both tax efficiency and legal protection. Each type of structure—Sole Proprietorship, Limited Liability Company (LLC), S-Corporation (S-Corp), and C-Corporation (C-Corp)—has its own…
Tax Implications of Cryptocurrency Investments
Cryptocurrency has gained significant popularity over recent years, offering investors a new way to diversify their portfolios. However, many are unaware of the complex tax regulations that govern cryptocurrency transactions…
Tax Planning for Self-Employed Individuals: What You Need to Know
Being self-employed has a lot of perks—freedom, flexibility, and the satisfaction of being your own boss. But it also comes with one major responsibility: handling your own taxes. Unlike employees…