Artificial Intelligence (A.I.) refers to the capability of machines to carry out tasks that usually require human intelligence. Using algorithms, data analysis, and processing power, A.I. systems are designed to mimic how humans learn, think, and solve problems in daily life. While A.I. excels at automating tasks, making predictions, and analyzing large volumes of data,...
One of the material changes made to the tax code resultant of the 2018 tax reform is that the business entertainment deduction has been suspended until 2026. It’s not just large enterprises that are affected by this law, but also small businesses, freelancers, solopreneurs, and other self-employed individuals who may now be changing their plans and budgets depending...
The federal income tax was first enacted in 1913. The tax code was relatively concise, and in these simpler times family businesses were once the backbone of the US economy. The tax code is now several million words long and requires a vast majority of people to use a tax professional in order to navigate it....
Buying, leasing, fueling, and maintaining a car can take a big bite out of your budget. Fortunately, these car expenses can also take a big bite out of your taxes if you keep excellent records. Whether you’re a rideshare driver or you use your car frequently in a trade or business, you might be overlooking some...
With 2017 quickly coming to a close, you definitely want to think about last-minute maneuvers that can help you save a significant amount of taxes. If you have an investment portfolio, now is definitely the time to think about whether you want to sell or hold your assets if doing so will have tax impacts....
As the holidays loom closer, you might be thinking about opening your heart and pocketbook and giving to the causes and people that you care about. The holidays indeed evoke generosity in most people to give all that they can. But there’s also good reason that the holiday season is when nonprofits get major boosts...
Identity theft has became a major problem in recent years. Cybercriminals are only becoming more effective at what they do whether they are acting alone or with major crime syndicates: in many cases, they only need a name to get started on stealing your assets and opening fraudulent accounts in your name. Additionally, too many...
The gig economy isn’t going anywhere anytime soon: whether you’ve got an extra seat in your car for the night or a powerdrill you’d like to put to use, the whole world of app-driven side hustles has helped people pay their bills or even serve as stopgaps for career changes. And the tax authorities have certainly...
Cryptocurrency, such as Bitcoin, Ethereum, Monero, and Litecoin among others, has picked up major traction in recent years to the point that it has become a major concern for tax and accounting professionals, the authorities, and cryptocurrency users themselves. People started using cryptocurrency to save money on cash remittances outside the country (for example, a $200 cash transfer to the...
The advent of online shopping has completely turned standard retail practices on its head. Stores that have thrived for decades have been forced to start selling their goods online and compete on the global marketplace. One challenge that many retail owners struggle with is how to charge the right amount for shipping without scaring away...