As the air turns crisp and leaves change color, one thing becomes clear: pumpkin spice season is upon us. From lattes to candles, Oreos to even beard oil, this flavor has become a fall staple. But did you know there’s more to this trend than meets the eye? Yes, I’m talking about the Pumpkin Spice Ta...
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The IRS’s Power May Be Weakening: What the Supreme Court's Latest Decision Means for Your Taxes
By Daveed
What if the IRS’s power to enforce its rules was diminishing? A recent Supreme Court ruling might significantly alter how agencies like the IRS exercise their authority. For Portland business owners, this shift could create new opportunities to protect hard-earned money and reduce tax liabilities.
Th...
The economic landscape has seen monumental shifts over the past four decades, largely influenced by policy reforms initiated during the Reagan administration. Known as Reaganomics, these policies fundamentally reshaped the tax environment, giving businesses and indivi...
Maximizing Payroll Efficiency and Tax Compliance with Gusto: Insights from a Portland Tax Consultant
Five thousand years ago in ancient Egypt, before money was even a thing, the Pharaoh’s men were already collecting a 20% tax on grain. Fast forward to Julius Caesar, and he introduces the world’s first sales tax. Not to be outdone, his great-nephew Augustus rolled out the first direct income tax. Ca...
Running a business is no easy feat, especially when it comes to navigating financial challenges. Ashley, a local business owner, shares her journey of overcoming trust issues, gaining financial clarity, and finding success through regular financial meetings with Daveed Tuck and the Anvil Tax team.
In...
At Anvil Tax, we love sharing stories of transformation. Today, we’re highlighting the inspiring journey of Ashley, a Portland business owner who turned financial chaos into success with our help. Ashley faced overwhelming challenges, including financial mismanagement and even fraud within her busin...
Transforming Financial Chaos into Clarity: A Conversation with Ashley from RE PIXS, LLC and Portland Tax Consultant Daveed Tuck
At Anvil Tax Inc., we’re more than just a tax service—we’re dedicated partners in your financial journey. Recently, Portland tax expert Daveed Tuck sat down with Ashley Mile...
A rookie NFL quarterback tried to save on taxes by asking to be paid through an LLC as an independent contractor, hoping to avoid millions in taxes. However, the NFL blocked the idea due to its collective bargaining agreement. The story highlights the importance of tax planning for athletes.
“Federal Income Taxation” is the foundational tax class in any accounting or law school program. Contrary to what you may think, it doesn’t involve diving into thickets of dense, impenetrable tax forms or long, intimidating columns of numbers. The final exam doesn’t challenge students to fill out a ...
The 2024 election heats up as Trump and Harris agree on exempting tips from income tax. Introduced by Senator Cruz, this proposal could impact the economy and low-income earners but raises questions about defining 'tips.' The cost could be $150-$250 billion over 10 years. Insights from Daveed Tuc,
When it comes to finances, procrastination is often a luxury people can't afford. If there's one lesson we've repeatedly heard from successful individuals, it's the overwhelming regret of not starting early in planning their finances. Whether you're in your 40s, 60s, or just beginning your career, t...
The Inspiration Behind My Book - Planning, Legacy, and Financial Defense
In the journey to achieving long-term prosperity, there lies a timeless lesson: "If you want to have prosperity for a lifetime, grow people." There's another adage worth noting, often echoed in the world of sports: ...
Introduction: Why I Left the IRS
My name is Daveed from Anvil Tax, and today I want to share my personal journey and the reasons behind my departure from the IRS. Accounting, often referred to as the language of business, captivated me early on, shaping my career in profound ways.
Early Inspirations a...
Are you satisfied with the amount of taxes you paid last year? What about last quarter? As we approach the June 17th deadline for the second quarter estimated tax payments, it's essential to assess your tax strategies and ensure you are optimizing your tax savings.
Hello, I'm Daveed from Anvil Tax, a...
In this post, Daveed Tuck, a tax consultant and former IRS auditor, shares a story about receiving a notice from the Oregon Department of Justice. He discusses child support requirements for independent contractors and how to create efficient systems and SOPs to stay organized and compliant.
As April 15th approaches, many entrepreneurs find themselves in a precarious position.
The deadline for filing 2023 taxes looms, and the first quarter estimated tax payments for 2024 are also due. If you've been caught off guard by a larger-than-expected tax bill, perhaps due to inadequate tax plann...
The Super Bowl may be the single most-watched sporting event in America. But for millions of rabid and casual fans alike, nothing beats March Madness. This year, Iowa’s Caitlin Clark shattered “Pistol Pete” Maravich’s 1970 record to become the top scorer in Division I college basketball history, lea...
Since 1914, this has been the time of year for Americans to gather for their annual wrestling match with the internal revenue code. Famed smart guy Albert Einstein once said, “The hardest thing in the world to understand is the income tax.” Decades later, Jimmy Carter called our tax system, “a disgr...
Becoming the first Main Street Certified Tax Advisor in Oregon is an exciting milestone. I encourage other professionals to explore this program and join me in transforming the future of tax planning.