Understanding the New Tax Laws: What You Need to Know for the Upcoming Year

Each year sees changes to the tax code. Those changes usually affect nearly everyone. In 2023, tax changes in the Inflation Reduction Act came into effect, including an increase in per-barrel oil taxes and changes to the standard deduction and Alternative Minimum Tax Rate. Keeping up with the tax changes ensures you file your taxes […]

What are Estimated Taxes?

Anytime you earn or receive income, that income is taxed through either withholding by your employer or through estimated tax payments. Depending on how much is withheld from your paycheck, your employment status, and what kind of income you receive, you may be required to pay estimated taxes. Knowing what kind of tax you need […]

How Your Business Structure Affects Income Taxes

Just like people, businesses are taxed based on their income. However, the kind of taxes that are owed by a business and the way in which they file their taxes depends on the type of business structure they are considered. Knowing what kind of business structure your company is will help you to understand how […]