President Elect Trump #47, and Former President Trump #45 VICTORIOUS !!! We are so excited over here that all of the political advertisements for the presidential election will now be behind us. There is no doubt that President Trump and his team have a momentous task in front of them. Thus, the time to realistically … Read More
Author: EGTax
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The Corporate Transparency Act of 2021
*Press Release* *For Immediate Release* The corporate Transparency Act of 2021 is mandating starting January 1, 2024 that any existing partnership, LLC, or Corporation has to file a beneficiary Ownership Information Report by December 31, 2024. If you do not comply you/the business owners will get assessed a $500 a day penalty up to $10,000!!! … Read More
Weekly Tax Tip 12/18/23
If your self-employed and haven’t started your books, do it now instead of later! The longer you wait the more money it could cost you in taxes. Listen every Saturday at 3pm on WBEN or www.wben.com for our live tax show
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Weekly Tax Tip Dec 11, 2023
Do you know what a QCD is…That’s when you are age 73 or higher and move money from your IRA directly to charities and not get taxed on that money and it could even reduce the amount of taxable Social Security or the cost of your Medicare Insurance. Listen every Saturday at 3pm on WBEN … Read More
Weekly Tax Tip Dec 4, 2023
If you are retired and have low income, don’t leave tax free income on the table. You could be missing out on tax free money of $1,000 up to $20,000 depending on filing status and age. Plan your distributions from your IRA and 401k accordingly. Listen every Saturday at 3pm on WBEN or www.wben.com for … Read More
Weekly Tax Tip November 27th 2023
Are you investing in Crypto Currency? If you sell or exchange Crypto that is a taxable transaction and needs to be reported on Form 8949/Schedule D. Listen every Saturday at 3pm on WBEN or www.wben.com for our live tax show.
Weekly Tax Tip November 20th 2023
If you use Venmo or any similar cash apps on a regular basis where you received more than $600, you will receive a 1099K this year and it is up to you to allocate it as personal, business, or rental. Start allocating your transactions now. Listen every Saturday at 3pm on WBEN or www.wben.com for … Read More
Weekly Tax Tip November 14th, 2023
We know that Christmas can be very expensive, but did you know you can use some Christmas presents as a deduction? If you have a business tell your spouse you want a new desk, chair, tool, computer, etc… As long as you use it in your business then it is a deduction against your income. … Read More