Want to Open a ROTH IRA for Your Kids?

Opening a Roth IRA for them might just be the unfair advantage you need! In this blog post, I'll walk you through the savvy process of setting up a Roth IRA for your child.

YES, it's possible, and YES, I'll tell you exactly how to get it done!

But before ...

Today, I have a good story for you. It’s about a young professional named, Karen, who thought she had taxes all figured out  until tax season rolled around. Her mistakes were a bit costly, but they're also incredibly common.

Karen was doing well, living her best life. She had just landed her fir...

So, you’re starting a business, and you’re probably overwhelmed by the choices from LLC, sole proprietorship, corporation, or partnership.

I’m here as a CPA to explain to you, and break down the pros and cons of each of these business types, and who they’re best for.

I’ll also share my #1 perso...

The IRS has been issuing warning after warning, on how ERC fraud is a huge problem. This is potentially a $2 trillion dollar fraud, according to Accounting Today!

Think of it this way… If the IRS has been defrauded by $2 trillion dollars, that’s our American tax money that’s just been stolen.

T...

Fake IRS letters are going around again. I want to arm you with the information you need so that you never get scammed by a fake IRS letter.

I’ll provide a few examples, and after reading this blog post, you’ll have the information you need to never get tricked by an IRS scam letter.

Spotting a...

Here's an updated video on the best way to call the IRS by telephone. I’ll give you two options to quickly navigate the IRS automated telephone maze. And this should allow you to quickly speak to a live person at the IRS in the shortest possible time.

Calling the IRS can be intimidating and very...

The new 1099-K rules are here to stay and will affect many people, like you and me, and not just those with a small business.

The problem is, this year, you’ll probably receive a new IRS form 1099K tax form, that must be reported on your tax return. In previous years you probably never even knew...

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Today, we're discussing why you might not want to become an 'accidental landlord', and that is when you decide to rent out a property you own, that you originally intended to sell - typically after you bought another, new home. While this can sound like a great opportunity for extra income, ther...

A huge mistake that comes up in business is something that doesn’t actually seem like it’s a big deal at all. And that is, paying employees or independent contractors in cash. 

Here’s why. The all powerful Internal Revenue Service, can can disallow the deduction entirely. Meaning if you paid con...

So you’ve got a side hustle. And you might be wondering if you really need a tax ID number, also referred to as an EIN. In this blog post, I’ll discuss whether or not you should get an EIN or employer identification number for your side hustle business.

An EIN is a nine digit number assigned ...

As a tax professional for many years, my advice is to always file your tax returns. I know that seems obvious. But sometimes life happens and we find ourselves falling behind with lots of important stuff especially filing your taxes.

In this blog post, I’ll share a story about a friend of mine, ...

Tax laws are complicated, but the most common tax return errors are surprisingly - simple things that I want to help you avoid.

In this blog post, I’ll cover the top 10 common tax filing mistakes according to the IRS. That can cost YOU, the taxpayer, valuable time and precious money.

Stay until...