Month: March 2022

One of the most important decisions you’ll make as a small business owner is choosing your legal business structure. As with most business decisions, there is no one-size-fits-all for selecting the best option. Which classification you choose ultimately depends on your business goals, ownership structure, and more. But how do entrepreneurs determine if a limited
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Twenty and out; stop snapping; agent for change; and other highlights of recent tax cases. Belle Glade, Florida: Tax preparer Fred Pickett Jr. has been sentenced to 97 months in prison for preparing false returns. From 2013 to 2016 he prepared returns for some clients claiming that they owned fictitious businesses that lost tens of
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After the failed approach of the Trump administration’s tariffs and trade war along with the current need to reduce inflation and increase productive capacity, we hoped the administration would reevaluate the tariffs. But under the Biden administration’s new trade policy agenda, most U.S. businesses will continue facing tariffs on billions of dollars’ worth of imported
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If you buy something through our links, we may earn money from our affiliate partners. Learn more. Restauranteurs might spend days, weeks, months, or even a lifetime developing the perfect menus for their dining establishments. It would be a shame if the menu’s design left so much to be desired that patrons were uninterested in
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Mississippi lawmakers entered the 2022 legislative session with the motivation and resources to implement income tax reductions and, despite stark contrasts in approach, concluded by delivering meaningful relief for taxpayers. The Mississippi Tax Freedom Act of 2022 (HB 531) began the session as an effort to totally repeal the individual income tax, a proposal we
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Fatcamera | E+ | Getty Images Sometimes, new retirees who sign up for Medicare may find themselves paying extra monthly charges for premiums. Yet for those whose income drops at retirement, it may be possible to change that. Roughly 7% of Medicare’s 63.3 million beneficiaries with income above a set threshold pay “income-related monthly adjustment
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Nobody likes unpleasant surprises when it comes to taxes. And if you unexpectedly find yourself owing the IRS hundreds or thousands of dollars that you don’t have, it’s normal to feel the panic start to set in. But we can help. If you can’t afford to pay your entire tax bill upfront, you aren’t alone.
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The Internal Revenue Service has been auditing the poorest wage earners more than higher-earning taxpayers, according to an updated report. The report, from Syracuse University’s Transactional Records Access Clearinghouse, or TRAC, follows up on a report released earlier this month that covered IRS statistics through the end of last year (see story). It found that
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In this article ARKK Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during the Milken Institute Global Conference in Beverly Hills, California, on Monday, Oct. 18, 2021. Kyle Grillot | Bloomberg | Getty Images It’s hard to talk about the topic of women in investing without mentioning Cathie Wood. The founder, CEO
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