Paul Krismanits

how to withdraw your IRA early

Avoid the 10 Percent Penalty: How to Withdraw from Your IRA Early

So, you need to tap into your IRA before you hit the magical age of 59 1/2? Understandable. Life happens, and sometimes you need those funds sooner rather than later. The good news is, you might not have to face that dreaded 10 percent early withdrawal penalty. Here’s a rundown of how to withdraw your […]

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Taxes 2025

Are You Ready to Pay More Taxes 2025? The Tax Cut and Jobs Act is About to Expire. Here’s What that Means For You!

Brace yourself: tax season is about to get a lot more painful. If you haven’t heard, the Tax Cuts and Jobs Act (TCJA) reforms are expiring, increasing taxes in 2025, and if Congress and the next President can’t get their act together (which we know they rarely do), your tax bill is going to skyrocket.

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Senate Tax Bill Update R&D Credit

Update on Child Tax Credit and R&D Tax Credit in Senate

In the ever-evolving landscape of tax legislation, a significant bipartisan tax bill is currently being debated in Congress. This bill includes provisions for expanding the child tax credit and restoring the R&D tax credit, both of which have substantial implications for families and businesses alike. Current Status in the Senate While the House has already

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ChatGPT Business

ChatGPT: Your Secret Business Weapon to Boost Profits and Slash Taxes

As ChatGPT gets better and better (along with other AI services), it’s becoming clear that if you want to stay ahead of the game you’d better learn to use it! One of the main areas ChatGPT can help is in boosting profits for business, by increasing efficiency and cutting costs (including helping with taxes) ChatGPT

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1099 or W2

1099 or W2? Avoid Getting Your Practice in Trouble with the IRS

Navigating Employee Classification in the Healthcare Sector Accurately classifying employees in the healthcare industry, which encompasses chiropractic offices, dental practices, and broader medical settings, is paramount for adhering to tax regulations and averting significant penalties. This comprehensive guide delves deeper into the distinctions between 1099 or W2 forms, discusses their specific applications within the healthcare

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avoid FinCEN fines

Avoiding FinCEN Fines: A Guide to Timely Compliance for Businesses

In the labyrinth of legislation, the Corporate Transparency Act (CTA) stands out for businesses across the United States. Effective January 1, 2024, this Act mandates most small to medium-sized corporations, limited liability companies (LLCs), and similar entities to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). The goal? To

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child tax credit and R&D credit

What the 2024 Tax Bill Means for You: Child Tax Credit and R&D

The Tax Relief for American Families and Workers Act of 2024 is a beacon in the often murky waters of U.S. tax legislation. It promises significant changes to the child tax credit and R&D tax credits, aiming to bolster support for families and incentivize business innovation. Let’s dissect these proposals with the kind of straightforwardness

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