Tax Hints

Employee retention credits (ERC) emerged as a lifeline for certain businesses and tax-exempt organizations affected by the COVID-19 pandemic. The ERC is a refundable tax credit designed…

An Employer Identification Number (EIN) is a unique nine-digit number assigned to businesses by the Internal Revenue Service (IRS) for tax administration purposes. EINs are essential for…

The double declining balance (DDB) method is a widely recognized and utilized accelerated depreciation technique in accounting and finance. This approach allows businesses to depreciate assets more…

Double taxation is a tax principle that refers to income taxes being paid twice on the same source of income. This can occur when income is taxed…

Drop shipping is a popular e-commerce business model where a retailer doesn’t keep inventory, instead relying on a third-party supplier or manufacturer to ship the products directly…

Ecommerce has become an essential part of the modern economy, opening up a world of opportunities for entrepreneurs and businesses. Along with the benefits of online selling,…

Engaging in trade or business is a crucial aspect of operating in the United States for both domestic and foreign entities. The term “engaged trade business” (ETB)…

An enrolled agent is a tax professional who has earned the highest credential awarded by the Internal Revenue Service (IRS). These individuals represent taxpayers before the IRS,…

Estimated tax payments are a crucial aspect of the United States tax system for those with income not subject to federal withholding. This includes business owners, self-employed…

Estimated tax payments are a crucial aspect of the United States tax system for individuals, businesses, and certain other entities, such as farmers and fishermen. These payments…

Deducting employee benefits is a common practice for businesses to help offset costs and ultimately save on taxes. Employee benefits are various forms of indirect compensation provided…

A CP504 notice, also known as the Notice of Intent to Levy, is a critical communication from the Internal Revenue Service (IRS) to taxpayers. This notice is…