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Category: Taxes

  • Unlock the Language of Business: Accounting Simplified

    Unlock the Language of Business: Accounting Simplified Discover the essential knowledge that drives every successful business. Accounting isn’t just numbers—it’s the critical system that tracks financial health, communicates value, and powers smarter decisions. Keep scrolling to unlock the differences between financial and managerial accounting and why they matter to you. Financial Accounting: The External Story…

  • The Impact of Steel and Aluminum Tariffs on Everyday Americans

    The Impact of Steel and Aluminum Tariffs on Everyday Americans This presentation explores the potential ramifications of imposing 25% tariffs on steel and aluminum imports for everyday Americans. We’ll delve into the implications for consumer prices, job security, and the broader economic landscape. Rising prices for consumer goods Increased Costs for Manufacturers Tariffs on steel…

  • Recording a Vehicle Purchase

      This presentation will guide you through the process of accurately recording a vehicle purchase, covering key aspects like financing, trade-ins, and down payments. We’ll also discuss the accounting implications for each step. Calculating the Purchase Price Starting Point: MSRP Begin by understanding the manufacturer’s suggested retail price (MSRP) of the vehicle. This represents the…

  • The History of Tariffs in the United States

    The History of Tariffs in the United States From the nation’s earliest days, tariffs have played a significant role in shaping the economic landscape of the United States. This presentation explores the evolution of tariffs in US history, examining their impact on trade, industry, and the broader economy. Early American Tariffs: Hamilton’s Vision The US…

  • Navigating the Financial Landscape: A Deep Dive into Accounting, QuickBooks, Finance, Taxes, Bookkeeping, and AI

    In today’s rapidly changing financial environment, managing your accounts effectively is more crucial than ever. Innovations in technology have paved the way for advanced tools that simplify accounting processes, making finance management accessible for everyone from small business owners to larger corporations. This article will explore the critical roles of accounting, QuickBooks, finance, AI, taxes,…

  • Reaching the Age of 72: Retirement Milestones

    Reaching the Age of 72: Retirement Milestones At age 72, a key retirement milestone arrives: Required Minimum Distributions (RMDs). Understanding RMDs is crucial for maximizing retirement income and ensuring a secure financial future. Required Minimum Distributions (RMDs): Understanding the Basics What are RMDs? RMDs are mandatory withdrawals from retirement accounts, like 401(k)s and IRAs, that…

  • IRS seven tax brackets and federal income tax rates

      The IRS uses seven tax brackets to calculate your tax bill based on income and filing status. As your income rises, you may move into a higher tax bracket, which can increase the amount you owe in taxes.   It’s important to note that you do not pay the same tax rate on every…

  • IRS Standard Deduction for 2023, 2024, and 2025

    The IRS standard deduction is a crucial tax benefit that allows taxpayers to reduce their taxable income without itemizing individual deductions. This section provides an overview of the standard deduction amounts for the upcoming years and insights into understanding and maximizing this important tax-saving opportunity. Understanding the Standard Deduction What is the Standard Deduction? The…

  • Understanding Social Security Taxes in 2025

      In 2025, the Social Security payroll tax rate is 12.4%, which consists of 6.2% deducted from your paycheck and an additional 6.2% matched by your employer. For instance, if your taxable payroll income is $100,000 in 2025, the total Social Security payroll tax would be $12,400, split equally between the employee and employer, with…