Given that interest rates and inflation are currently at a 40-year high, it is important to make financial resolutions to ensure your finances are in good shape. Here are four healthy financial habits you must start by 2023: Create a spending plan. Consolidate all debt. Improve your financial legacy through estate planning. Prioritize saving. […]
Divorce is one of the most difficult experiences a person can face in their lifetime. Not only is it emotionally and psychologically taxing, but it can also be financially burdensome due to the associated tax implications. As is the case with any significant life event, understanding the associated taxes is essential for navigating the process. […]
Following the release of a report by the U.S. Treasury Inspector General for Tax Administration (TIGTA), the IRS was advised to audit more S Corps & focus on the underreporting of S-Corp owner wages & salaries. Many S Corps are not paying adequate owner compensation, and a number of S Corps are not paying owner salaries […]