Pennywise Tax Strategies Blog - Page 2

Two Tax Ghosts That Might Be Haunting You

October 25th, 2023
It's October 2023 and there are two tax ghosts that might be haunting you: the ERC credit and the upcoming 2023 tax deadline.

The Home Office Deduction: Who Qualifies and How to Claim It

October 25th, 2023
If you operate a business out of your home, you may be eligible to deduct home office expenses.

Why It's Important to Keep Track of Your Business Mileage

October 20th, 2023
If you use your personal vehicle for business purposes, it's essential to keep track of your mileage. This is because you ...

The IRS ERC Eligibility Checklist: Key Information for Businesses

October 6th, 2023
The Employee Retention Credit (ERC) is a complex tax credit that can help businesses and tax-exempt organizations offset t...

IRS Announces Moratorium on New Employee Retention Credit Claims Amid Growing Concerns

October 3rd, 2023
The IRS has implemented a moratorium on processing new ERC claims until at least December 31, 2023, due to concerns about ...

What is the Research & Development Tax Credit? Do I qualify?

September 25th, 2023
The R&D tax credit is a tax incentive for U.S. companies to spend more on research and development activities in the U.S. ...

Benefits of Helping Employees Pay Off Student Loan Debt

September 13th, 2023
As of September 1, 2023, the student loan forbearance program put in place during the pandemic has ceased. Interest on stu...

Evaluating Entity Structure for Tax Purposes

September 5th, 2023
If you're a business owner, it's critical to review your entity election regularly to ensure it's still serving you from a...

Rental Property Taxes and Expenses: What You Need to Know

August 25th, 2023
If you own rental property, you are responsible for paying taxes on the rental income you receive.

Taxpayers Have the Right to Finality When Working With the IRS

August 17th, 2023
Did you know that taxpayers have the right to know when the IRS has finished an audit and the maximum amount of time the I...

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