How to Survive an IRS Audit? Preparation!

GET IN TOUCH GET IN TOUCH Just the simple phrase, “IRS audit,” can be enough to trigger anxiety. For individuals and businesses alike, the thought of a relentless examination of your financial records with the threat of potential penalties looming overhead may send shivers down your spine. However, if you’re facing this prospect, the first…

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Accrual vs. Cash Basis Accounting: Your Comprehensive Guide

GET IN TOUCH GET IN TOUCH Are you struggling to determine the best way to track your business or personal financial transactions? Do you find yourself puzzled by the nuances of accrual and cash basis accounting? Whether you’re an individual taxpayer or a business owner, selecting the right approach is crucial. Good accounting is a…

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How Does the Electric Vehicle Tax Credit Work in 2023?

GET IN TOUCH GET IN TOUCH Are you considering purchasing an electric vehicle in 2023? You’re not alone; the market for electric cars has expanded rapidly in recent years and is expected to continue growing dramatically over the coming decade as consumer demand surges. At the same time, while electric vehicles can be cheaper to…

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You Missed the Tax-Filing Deadline…Now What?

GET IN TOUCH GET IN TOUCH Tax Day has come and gone this year, and that hopefully means you filed your federal returns or requested an extension before midnight on April 18th. If you missed the deadline and did not request an extension, the time to take action is now. First, don’t panic. Missing the…

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Tax Implications of Sports Gambling? Bet on It!

GET IN TOUCH GET IN TOUCH In the over four years since a 2018 Supreme Court ruling cleared the way for the legalization of sports gambling, over thirty states and Washington, D.C. have done just that — with much more likely to follow in the short term. With legal sports gambling at an all-time high,…

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