by Caleb Jenkins | Sep 25, 2026 | Uncategorized
Quick Answer: Some of the biggest tax mistakes new business owners make include using personal credit cards for business expenses, guessing on startup cost write-offs, and failing to keep track of receipts for deduction proof.Key Takeaways:Opening a...
by Caleb Jenkins | Sep 11, 2026 | Uncategorized
Quick Answer: Pass-through entities (LLCs, S corps, sole proprietorships) pay a single tax layer, typically 15% to 23.8% on goodwill and up to 37% on inventory and equipment. C corporations face double taxation near 40% on asset sales, unless structured as...
by Caleb Jenkins | Aug 26, 2026 | Uncategorized
Quick Answer: You have to pay income tax on any net profit earned through PayPal, Venmo, or Cash App, regardless of whether the platform issues you an official Form 1099-K. However, the IRS only taxes true financial gain, meaning personal bill splits, gift...
by Caleb Jenkins | Aug 10, 2026 | Uncategorized
6 Tax Filing Scams to AvoidToday’s tax scams look professional, sound convincing, and are built to get your Social Security number, filing credentials, or signature on a bad return.A big refund promise is one of the clearest warning signs of a scam.You are responsible...
by Caleb Jenkins | Aug 1, 2026 | Uncategorized
How Does the SALT Deduction Work For High Earners? Quick Answer: In 2026, the State and Local Tax (SALT) deduction allows you to write off up to $40,400 on Schedule A, but a Modified Adjusted Gross Income (MAGI) over $505,000 triggers a 30% phaseout that...
