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Real-World Lessons for Attorneys from IRS Court Cases

Mar 32 min read

Real-World Lessons for Attorneys from IRS Court Cases

To ensure compliance and avoid costly errors, learning from real-world scenarios where legal professionals have stumbled is crucial.

Tax Strategies for Law Firms Earning $250K-$5M+

Tax Geaks

Feb 293 min read

Tax Strategies for Law Firms Earning $250K-$5M+

Whether your firm’s earnings fall within the $250,000 to $1,000,000 range, the $1,000,000 to $2,500,000 bracket, or exceed $5,000,000, there

Navigating the Corporate Transparency Act: A Guide to Beneficial Ownership Reporting

Tax Geaks

Jan 172 min read

Navigating the Corporate Transparency Act: A Guide to Beneficial Ownership Reporting

The Corporate Transparency Act (CTA) has introduced new reporting requirements that significantly impact both domestic and foreign entities

Understanding the CP2000 Notice: What It Means for You

Tax Geaks

Jan 172 min read

Understanding the CP2000 Notice: What It Means for You

If you’ve received a CP2000 notice from the IRS, it’s natural to feel a bit anxious. This notice indicates a discrepancy between the income

Understanding the 1099-NEC and 1099-MISC Filing Requirements for Small Businesses

Tax Geaks

Jan 93 min read

Understanding the 1099-NEC and 1099-MISC Filing Requirements for Small Businesses

As a small business owner, navigating the complexities of tax reporting is crucial to ensure compliance with IRS regulations. Two forms...

Understanding Meal Deductions for Business Owners: A Guide to IRS Rules and Publications

Tax Geaks

Jan 92 min read

Understanding Meal Deductions for Business Owners: A Guide to IRS Rules and Publications

As a business owner, navigating the complexities of tax deductions can be challenging, especially when it comes to understanding what...

Tax Geaks

Jan 92 min read

2024 Standard Mileage Rate Update

We are pleased to inform you of the latest update from the Internal Revenue Service regarding the standard mileage rates for 2024. The...

Important Update: IRS Launches New Business Tax Account Portal

Tax Geaks

Jan 92 min read

Important Update: IRS Launches New Business Tax Account Portal

Internal Revenue Service (IRS) has introduced a new Business Tax Account portal, providing a comprehensive online system for managing your

Important IRS Form 1099-K Reporting Threshold Changes

Tax Geaks

Jan 92 min read

Important IRS Form 1099-K Reporting Threshold Changes

The Internal Revenue Service (IRS) has recently announced a delay in the implementation of the new $600 reporting threshold for third-party

Choosing the Right Legal Entity for Your Side Business

Tax Geaks

Dec 27, 20233 min read

Choosing the Right Legal Entity for Your Side Business

Starting a business while maintaining a full-time job can be an exciting venture. It’s a chance to pursue a passion, explore...

Navigating Business Dissolution: A Guide for LLCs, S Corporations, and Corporations

Tax Geaks

Dec 21, 20233 min read

Navigating Business Dissolution: A Guide for LLCs, S Corporations, and Corporations

Closing a business is a significant decision and involves a detailed process, whether you're winding up an LLC, an S Corporation, or a Corpo

Understanding Estimated Tax Payments: A Comprehensive Guide

Tax Geaks

Dec 21, 20232 min read

Understanding Estimated Tax Payments: A Comprehensive Guide

Navigating the complexities of estimated tax payments can be daunting. Our latest blog delves into the crucial aspects of this topic, especi

Key Update: FinCEN Extends Deadline for Initial Beneficial Ownership Reports

Tax Geaks

Dec 20, 20232 min read

Key Update: FinCEN Extends Deadline for Initial Beneficial Ownership Reports

Introduction: In a significant development for reporting companies, the Financial Crimes Enforcement Network (FinCEN) has announced an...

Navigating Audits: How to Prepare for an IRS Examination

Tax Geaks

Dec 1, 20232 min read

Navigating Audits: How to Prepare for an IRS Examination

Introduction: Receiving a notice of an IRS audit can be a stressful experience for individuals and businesses. However, with proper...

Managing Cash Flow: Tips for Small Business Owners

Tax Geaks

Nov 23, 20232 min read

Managing Cash Flow: Tips for Small Business Owners

Introduction: Cash flow management is a critical aspect of running a successful small business. Proper management of cash flow ensures...

Tax Considerations for Freelancers and Self-Employed Individuals

Tax Geaks

Nov 3, 20232 min read

Tax Considerations for Freelancers and Self-Employed Individuals

Introduction: Freelancers and self-employed individuals face unique tax considerations compared to traditional employees. Understanding...

The Advantages of Hiring a Professional Accountant for Your Business

Tax Geaks

Oct 20, 20232 min read

The Advantages of Hiring a Professional Accountant for Your Business

Introduction: Effective financial management is crucial for the success of any business. While some small business owners may handle...

Tax Implications of Remote Work: What You Need to Know

Tax Geaks

Oct 6, 20232 min read

Tax Implications of Remote Work: What You Need to Know

Introduction: The COVID-19 pandemic has accelerated the shift towards remote work, with many individuals now working from home. While...

Dissolving an LLC and S Corporation: A Step-by-Step Guide

Tax Geaks

Oct 3, 20232 min read

Dissolving an LLC and S Corporation: A Step-by-Step Guide

Navigating the world of business can be intricate, and winding down your venture is no exception. Whether you own an LLC (Limited Liability

Solving the Dilemma: Choosing Between an LLC and an S Corporation

Tax Geaks

Oct 3, 20232 min read

Solving the Dilemma: Choosing Between an LLC and an S Corporation

The world of small business ownership is filled with choices, and one of the most pivotal decisions budding entrepreneurs face is selecting

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