What Does “Materially Participate” Mean? The IRS Rules Explained
If you own an interest in a business, a partnership, or a rental property, the IRS draws a sharp line between active and passive involvement. Which side of that line you fall on determines whether you can use losses from that activity to offset your other income,...- All
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What’s Changing in Tax Strategy Right Now And What to Do About It
What’s Changing in Tax Strategy Right Now And What to Do About It Based on a recent episode of Beyond the Bottom Line with Miguel Alexander Centeno If you’ve been waiting for tax law to stop shifting before making moves, the wait is over. For the first...Amortization vs Depreciation: What’s The Difference?
Every business owns assets. Some you can touch: equipment, vehicles, furniture. Some you can’t: patents, trademarks, software licenses. Both types affect your taxes, but they’re handled differently depending on which category...Tax Updates You Need To Know [2025]
With the New Year behind us, businesses are beginning to plan for the 2025 tax season. This year, we will see fewer major changes than in previous years, but there are still a few noteworthy items to consider. Here’s what you need to know. Increase In The...Management Accounting for Growing Startups
Accounting processes involve obtaining and organizing many different pieces of information. The types of documents that are part of accounting include everything from financial statements to balance sheets. To make sure this data is actionable, it needs to be...Book your session now!
Save Big with the Child Tax Credit in 2024
Many potential changes to the Child Tax Credit (CTC) could help provide additional support for families in the United States. A new bill passed by the House of Representatives may increase the tax credit for families in subsequent years so lower-income families can...Blog Archives
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