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Recent Posts
23 May 2024
Navigating the Complex World of Your Child's Tax Return
In an effort to prevent high-income parents from exploiting tax benefits by shifting their investment income to their children, who typically fall into lower tax brackets, the U.S. Congress introduced the "Kiddie Tax" in 1986. While not officially termed as such in the tax code, the Kiddie Tax effectively applies higher tax rates to the unearned income of certain children.
David M Robson22 May 2024
Smarter Headcount Management with AI
In the face of slowing economic times and rising labor costs, small and medium-sized businesses (SMBs) must find innovative ways to maintain profitability across all industries. One way to increase productivity and streamline day-to-day operations is to use artificial intelligence (AI) engines like ChatGPT.
David M Robson21 May 2024
The Taxation of Legal Settlements and Deductibility of Legal Fees
Navigating the taxation landscape of legal settlements and the deductibility of associated legal fees can be a complex endeavor. The Internal Revenue Service (IRS) has specific rules that govern how these financial transactions are treated for tax purposes. Understanding these rules is crucial for individuals and businesses alike to ensure compliance and optimize their tax positions.
David M RobsonWhy Premier Tax and Business Services
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