The Avalanche of Form 1099-K
*1/5/23 UPDATE: The IRS has announced a delay in implementation for the new $600 reporting threshold. While these rules won't be in effect for the 2022 tax year, the IRS has indicated that they intend to make them effective for 2023.* What is Form 1099-K and why...
Tax Benefits of S Corporations
S Corps, also known as S corporations, is an IRS election made by corporations or LLCs (limited liability companies) that governs the way these entities are taxed by IRS (and often time State) tax authorities. They are named after Subchapter S of the Internal Revenue...
Tax Extensions – Why It’s A Good Thing!
Tax Extensions Traditionally, federal (and many state) tax returns are due on April 15 or the first business day thereafter (if the 15th is on a weekend or holiday). However, the IRS will grant you an automatic extension to file your taxes every year, as long as you...
Stripe – Tax Planning for NQSOs
How Stripe employees should think about Nonqualified Stock Options (NQSOs)
Twitter Stock Options – What Happens Now?
Now that Elon Musk has taken Twitter private, what happens to public stock and employee stock options? While the November 8th deadline will close the chapter on Twitter as a public company, questions remain. Twitter stock will close to public trading on November 8th...
What is “Married Filing Separate”?
So, what is Married Filing Separate and how can it lower your tax liability?