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 Understanding IRS Form 2553: The Complete Guide to Electing S Corporation Status
IRS Form 2553 is the document that lets a qualifying business elect S Corporation tax treatment. With one filing a company can avoid double taxation, reduce self employment tax, and preserve limited liability. Yet the form comes with strict rules, uncompromising deadlines, and t
16 June 2025 | 10:52 am

 Unlocking the mystery of taxes on employer-issued nonqualified stock options
A fantastic article explaining the two step process involved in first exercising then selling stock obtained in the Non Qualified Stock Option (NQSO) process, with a comprehensive example. Employee stock options remain a potentially valuable asset for employees who receive them.
2 April 2025 | 4:00 pm

 Important Tax Figures for 2025
A fantastic chart providing the major differences in maximums and phase-outs between the 2024 and 2025 tax season, concerning Social Security and Medicare, IRA’s, Qualified Plan Limits, Mileage rates, Business meals, Standard Deductions, Kiddie Tax and much, much more! The
31 March 2025 | 4:00 pm

 How to Trim Your 2024 Taxes by Contributing to a Retirement Plan in 2025
An excellent article regarding IRA Traditional and ROTH Options for the 2025 tax year, including information regarding SEP IRA’s, Profit Sharing Plans, Defined Benefit Plans. Many types of retirement plans allow contributions to be made after year end. And last-minute reti
30 March 2025 | 5:00 pm

 Can I itemize deductions on my tax return?
An excellent article explaining the major differences between the Standard Deduction and Itemized Deduction (ID), and the individual components of the ID. You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were t
30 March 2025 | 5:00 pm