The IRS has released its federal tax brackets for calendar year 2024. There are still seven tax brackets. The lowest rate is 10% and the highest is 37%. These new tax brackets are in effect…

What is market-based sourcing? This is the concept of attributing revenue to the location where the customer receives the benefit. Let’s talk about this from the perspective of a service provider, like an attorney.  In…

Over the decades that I have been doing taxes, I have received client tax documents in just about every way imaginable. Long ago, everything was on paper. Many people still prefer working with physical paper documents. …

Do you live in Pennsylvania but work in New Jersey? If so, this is a video for you. Here in South Jersey, it is common for clients to work in a different state from where…

Work from home and want to know what expenses you can deduct? If you’ve embraced the convenience of working from home, it’s important to explore the potential tax benefits associated with your remote setup. Understanding…

Announced earlier in 2023, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) is enforcing compliance with The Corporate Transparency Act (CTA) by requiring business entity owners to file Beneficial Ownership Information (BOI) reports beginning January…

If you use a credit card for business transactions, you’re probably recording it wrong. Using a credit card for the bulk of your business purchases these days has become the norm. It’s really convenient, you…

What is an amended tax return and when do I need one? If you file a tax return and you find out later that it was wrong for some reason, you can file an amended…