Artificial intelligence (AI) is being used by scammers to improve their deception techniques. Tax scams are becoming more difficult to identify, ranging from cunning phishing emails to voice or video deepfakes. Parr and Ibarra explain in their blog “AI and the Rise of Tax Scams: Are You at Risk?” how criminals are now employing AI […]

Your hard-earned earnings may be eroded by capital gains taxes, but there are tried-and-true methods to lessen the impact. The article “How To Minimize Capital Gains Tax on Investments” by Parr & Ibarra lists a number of doable actions that every investor should be aware of. Since holding investments for more than a year can

Deciding between hiring full-time employees or engaging 1099 contractors can have big tax consequences that impact both your payroll and bottom line. When you bring on W-2 employees, you’re responsible for withholding income taxes, paying Social Security, Medicare, unemployment, and often providing benefits. Contractors, by contrast, manage their own taxes and most associated expenses. The

When planning for retirement, it’s tempting to focus on increasing your savings while disregarding the requirements for withdrawing funds. Required Minimum Distributions (RMDs) are required withdrawals from tax-deferred accounts such as traditional IRAs and 401(k). These withdrawals ensure that retirement funds are eventually taxed, making them an essential component of your financial plan. The SECURE

Need to pay your taxes to the IRS? Here is a quick overview.Handling IRS payments can be intimidating, especially given the different ways and deadlines involved. Understanding your options, whether you’re paying as an individual or a corporation, is critical to avoiding fines and maintaining good credit. Need a quick overview of your IRS payment