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TurboTax To Pay $141 Million For Misleading Customers

Intuit, which is the father company of TurboTax has settled with all 50 states in an agreement to pay almost $150 million dollars to their users. This is after allegations that the tax filing service drove millions of low-income Americans … Continue reading

 

United States Sees Largest Mortgage Rate Hike Since 2009

In an effort to combat inflation and the overheated housing market, the Federal reserve has decided to raise its benchmark by half a percentage point, which is the highest bump the country has seen in two decades. Mortgage costs are … Continue reading

 

Thinking of Buying a New Car? Now is Not the Best Time

Last week, the Federal Reserve boosted a key interest rate by half a percentage point. This marks the Feds largest boost in over 20 years and borrowing costs for a variety of consumer loans including car loans are expected to … Continue reading

 

SEC Cyber Enforcement Team Doubles in Preparation for Crypto Regulation

The SEC (U.S. Securities and Exchange Commission) announced earlier this week that it is adding 20 new positions to its Crypto Assets Unit which is in the Cyber Unit of the Commission. The new unit previously handled cybercrimes but is … Continue reading

 

The 5 States in the U.S. Without a Sales Tax

The United States has many different types of taxes that vary depending on the state that we live in. One of the most common taxes Americans hear about is Sales Tax, which is based on what state you are … Continue reading

 

Crypto Advocate Elon Musk Buys Twitter – What Does this Mean for Digital Assets?

American Billionaire and Entrepreneur, Elon Musk has recently announced that he will be purchasing the social media platform Twitter for a whopping $43 billion. Twitter becomes another piece to Elon Musk’s collection of multi-million dollar companies. He also owns electric … Continue reading

 

Businesses Can Thrive in the Metaverse

What seemed so foreign only a few months ago is quickly making its way to the mainstream. The Metaverse has seen a multitude of businesses entering its space and trying to figure out how it can be beneficial for them. … Continue reading

 

Child Tax Credit FAQs

The IRS revised its answers to frequently asked questions regarding the Child Tax Credit, adding a new set of six commonly asked filing season questions.  The new fact sheet posted on Wednesday to the IRS website answered a lot of … Continue reading

 

2022 Vehicle Depreciation and Deductions

In general, if you use vehicles in pursuit of a trade or business, you can deduct the ordinary and necessary expenses incurred while operating the vehicle. Taxpayers may use either the standard mileage rate method or the actual cost method … Continue reading

 

Depreciation Tax Shield – How do we Calculate?

The Depreciation Tax Shield is a key component of financial and accounting industry strategies. Many people that are working or looking for work in these two industries should master this method to further benefit themselves and their clients.… Continue reading