Tax Corner | Blog

Tax Corner I Blog

EV Tax Credit: How It Works and Its Impact on Electric Vehicles

As you explore the world of electric vehicles (EVs), you may come across the term “EV tax credit.” This federal incentive aims to make it more affordable for taxpayers to switch to environmentally friendly transportation. In the United States, the EV tax credit can significantly lower the cost of purchasing a new electric vehicle, promoting

Read More »
Tax Corner I Blog

DC FR-500: How to Register a Business in Washington DC

Are you starting a new business in Washington, D.C.? The District of Columbia requires businesses to complete registration and licensing processes, including submitting Form FR-500, otherwise known as the Combined Business Tax Registration Application. This document allows businesses to register with the Office of Tax and Revenue (OTR), securing their tax identification numbers and ensuring

Read More »
Tax Corner I Blog

6-Step Guide to Find a CPA for Small Business

As a small business owner or entrepreneur, have you ever asked yourself, “Do I need an accountant for my small business?” or wondered about the difference between a CPA and an accountant and which is better for you? These are important questions, and the short answer is yes, you definitely should find an accountant, ideally

Read More »
A guide on rental income tax for property investors
Tax Corner I Blog

Understanding Rental Income Tax: Essential Resource for Property Investors

Have you ever considered purchasing an investment property to rent for income? While it can be a great idea, it is important that you understand rental income tax regulations before diving in, especially since it has a direct impact on your financial performance and investment outcomes as a landlord. In this article, I’ll provide an

Read More »
Tax Corner I Blog

Understanding Depreciating Equipment for Taxes

Every business requires equipment to operate, which makes it essential to understand the concept of depreciation equipment for taxes. What assets depreciate? Depreciating assets can be anything from machinery and equipment to vehicles, and they can help you to recoup part of your total cost over the equipment’s lifetime. This can provide significant tax savings

Read More »
Tax Corner I Blog

Sign on Bonus Tax: Essential Guide for Informed Decisions

One of the key incentives that companies offer to entice potential, high-demand employees in a competitive job market is a sign on bonus. The incentives can come in different forms, such as a one-time bonus check, stock options or RSUs, or a combination. Many people must consider the tax implication of receiving a sign-on bonus,

Read More »
A retirement compass illustrating the Virginia tax implications.
Tax Corner I Blog

Virginia Retirement Tax: Essential Facts and Guidelines

Located in the heart of the East Coast, Virginia offers retirees a friendly environment to live out their golden years. With a diverse mix of suburbs, small towns, and historic cities, it’s a place that suits the retirement lifestyle while offering many attractions to enjoy. For those nearing the end of their careers, one of

Read More »
A person is multitasking on a phone and laptop as they analyze a stock chart.
Tax Corner I Blog

RSU Tax Rate Arlington Virginia: Essential Information for Employees

Restricted stock units (RSUs) have become a popular form of compensation, especially in the tech industry. In locations such as Arlington, Virginia, many employees find that understanding the taxes associated with RSUs is crucial for effective financial planning. This article will provide an overview of RSU taxation, focusing on the particularities that may apply to

Read More »
Tax advice for IRS forms 3520 and 3520A displayed on a wooden table with calculator, glasses, and papers.
Tax Corner I Blog

Best Tax Advice for Form 3520 and 3520A: Expert Tips for Compliance

Navigating the complexities of tax preparation can be daunting, especially when dealing with foreign trusts and their reporting requirements. For U.S. citizens with interactions involving foreign trusts, it is crucial to understand the intricacies of Form 3520 and Form 3520-A. These forms are used to report certain transactions and ownership with foreign trusts, and filing

Read More »

You deserve to get the most out of your taxes

And we’re here to help make that happen. Contact us today for a free consultation, and let us show you what we can do for you.

Scroll to Top