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... 
by Caleb Jenkins | Jul 23, 2026 | Uncategorized
Quick Answer: The Lifetime Learning Credit (LLC) is a non-refundable federal tax credit worth up to $2,000 per tax return. It’s calculated as 20% of the first $10,000 in qualifying higher education tuition and fees, with no limit on the number of tax years... 
by Caleb Jenkins | Nov 11, 2025 | Uncategorized
Key TakeawaysThe Child Tax Credit (CTC) is now worth up to $2,200 per child for 2025 taxes (filed in 2026). Up to $1,700 of the credit is refundable if you don’t owe any taxes. Because of the OBBBA, you (or at least one spouse if filing jointly) must... 