Driving Down Taxes: Auto-Related Deductions for 2025 By Crystal Wilson, Enrolled Agent & Senior Executive Tax Strategist Crystal Clear Tax – Clearing the Path to Success Overview If you use your car for business, some of those miles can actually lower your taxes. The IRS allows you to deduct part of your driving costs, …
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Self-Employment Taxes in 2025: What You Need to Know By Crystal Wilson, Enrolled Agent & Senior Executive Tax Strategist Crystal Clear Tax – Clearing the Path to Success Overview Running your own business is rewarding, but it also means carrying the full weight of your tax responsibilities. When you are self-employed, you pay both …
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Should You Itemize Your Deductions in 2025? By Crystal Wilson, Enrolled Agent & Senior Executive Tax Strategist Crystal Clear Tax – Clearing the Path to Success What are itemized deductions? When you file taxes, you get to reduce your income before the IRS calculates your tax bill. Most people use the standard deduction, which is …
Do You Really Need a CPA for Your Business? You might. Many business owners believe they need a CPA for everything related to taxes or finances. The truth is, unless your business is being audited or reporting to outside investors, you might not need a CPA at all. In fact, an experienced Enrolled Agent or …
Let’s strip away the political marketing and AI-learned optimism and give you a bias-free, economically grounded summary of how H.R.1 (119th Congress) impacts businesses of all types. 🏢 1. C Corporations 🔹 What Changed •Corporate rate stays at 21% (no increase post-2025) •Bonus depreciation (100%) extended through 2029 •Section 179 expensing increased: •Deduction limit: $2.5M …
Some summaries, especially from mainstream outlets or CRS-style sources, present the bill as tax-cutting across the board — which benefits political branding, but not always working-class families. AI trained on such language might default to that phrasing unless you dig deeper. So let’s go deeper — and analyze the numbers, eligibility, and phaseouts in H.R.1. …
Running a business is hard enough without the financial chaos. If you’re still juggling receipts and spreadsheets, it’s time to level up. QuickBooks helps you: Track income & expenses Send professional invoices Get ahead on taxes Thousands of small business owners (like you!) are switching to QuickBooks to save time and stress less. Try it …
Here’s a comprehensive Trucker Business Tax Deductions Checklist—organized by well-known and lesser-known deductions to ensure full visibility for both solo owner-operators and incorporated trucking businesses. ✅ Trucker Business Tax Deduction Checklist 1. 🚛 Well-Known Deductions These are commonly claimed and understood by most truckers and tax preparers. Fuel – All fuel purchased for business operations. …
Truckers: Missed Deductions = Lost Loads. Fix That in 2 Minutes. Read More »
As a business owner or entrepreneur, it’s essential to ask the right questions to your CPA or tax preparer to ensure your business is compliant with tax laws, taking advantage of all possible deductions, and planning effectively for the future. Here’s a structured list of questions to ask: 1. Business Structure and Tax Strategy: •Is …
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For a college student client, the tax preparer will typically need a combination of personal documents, income statements, education-related forms, and potentially deductions or credit information. Here’s a checklist of documents a college student should gather: Personal Information: •Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) •Bank account information (for direct deposit of …
The Secret Document Checklist a college student should gather for taxes Read More »
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