Blog tagged as Tax beat

Ever wondered how the IRS views income from illegal activities? Believe it or not, the IRS doesn’t care if your business is legal or not—they still expect their cut. And in some cases, even expenses tied to illegal activities can qualify for deductions! While you (hopefully) run a legitimate busines...

The football season kicked off with a bang as the Kansas City Chiefs, last year’s Super Bowl champions, secured a strong win. But that wasn't all the buzz—Taylor Swift, who’s dating Chiefs star Travis Kelce, was expected to attend many of their games, drawing even more attention. With Swifties acros...

When you think of accountants, it’s easy to picture someone hunched over a spreadsheet, laser-focused on numbers. The stereotype says accountants are boring, penny-pinching men or women buried in paperwork, living life on the dull side. But, what if I told you that accountants are the real rock star...

Meet Bob, a hands-on second-generation contractor from Portland who thought taxes were just a yearly headache—until his business success and growing real estate investments forced him to rethink his financial strategy. With the help of Daveed Tuck, an Ex-IRS auditor and tax consultant, Bob transform...

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...

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...

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...