Fair Tax Act: What You Should Know

The FairTax Act proposal would create a national sales tax, replace the 100 year old income tax system and shutter the IRS. Fair Tax Act Article Summary What is the “Fair Tax”? History of a “Fair Tax” in the U.S. Fair Tax Act data - proposed base and rates (29.8%) Abolishment … [Read more...]

IRS Schedules K-2 and K-3: Updated Filing Instructions for 2022

Summary: Draft instructions for Schedules K-2 and K-3 recently released In December of 2022, the IRS released new draft Schedules K-2 and K-3 with instructions for Forms 1065, 1120-S and 8865. Once finalized by the Office of Budget Management (OMB), the revision will become applicable for a … [Read more...]

Avoid Credit Score Mistakes With Help From a CPA

Do you know what your credit score is? Do you know what other people see when they check your credit score? If you’re not sure, it’s probably a good idea to personally check your own score. Everyone is eligible to one free credit report each year from each of the three major credit reporting … [Read more...]

Make the Most Out of Your Tax Refund

A tax refund is not a bonus, but people often treat it that way. In reality, your tax refund is a reimbursement from the government for withholding too much of your income. The average federal tax refund this year will exceed $3,000. Before making a reservation at the nicest restaurant in town, … [Read more...]

Donating to a Non-Profit Organization: How to avoid getting scammed

Considering donating to a non-profit organization?  Don’t let fraudsters take advantage of your desire to help, through dirty tactics such as emotional appeals. Exercising a little caution will protect you against scammers who are trying to cheat you. Here are some guidelines to keep in mind when … [Read more...]