Answers to common questions about how your taxes change when you open your own business. Self-employment taxes, partnerships, estimated tax

The information for this blog article was retrieved from the IRS website: https://www.irs.gov/businesses/small-businesses-self-employed/irs-audits Reasons fo...

Aubrey Corcoran [1] February 27, 2020 If you need to know the basics of self-employment tax, please refer to my post on that topic. This post attempts to hel...

Self-employment tax is the biggest tax expense for members of the clergy (pastors, bishops, missionaries, priests, ministers etc). In this article, you will...

Estate and Gift Tax for Beginners[1] Most of us are familiar with paying income or property tax; but have you heard of the gift tax? In most instances, the g...

Scholarships[1] Given the I.R.S. broad definition of income, it may surprise you that most scholarship awards are not taxable.[2] Scholarships or fellowships...

The Taxpayer Roadmap[1] I earned my Masters’ Degree in Taxation in 1997. During my studies, it became quickly apparent the U.S. Tax code is entirely too comp...