4 Ways to Withdraw Cash From a Corporation
Owners of closely held corporations often want or need to withdraw cash from the business. The simplest way, of course, is to distribute the money as a dividend. However, a …
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Being Prepared for an IRS Audit
The IRS recently announced it intends to hire thousands of new employees as part of a tax-enforcement push. This could mean an uptick in audits sometime soon, likely focused on …
Energize Tax Savings with an EV Credit
Electric vehicles (EVs) are increasing in popularity all the time — and more of them are qualifying for a federal tax credit. In fact, the IRS added several more eligible …
Don’t Rely on an Outdated Estate Planning Strategy
Because of the current estate tax exemption amount ($11.7 million in 2021), many estates no longer need to be concerned with the federal estate tax. Years ago, a much smaller …
Curtailing Tax surprises With Cryptocurrency
As investing in Bitcoin, Dogecoin and other cryptocurrencies becomes increasingly popular, investors need to understand the potential tax ramifications. Unlike traditional currency, the IRS views cryptocurrency as property for federal income tax …