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Category: Tax for Business

PriorTax keeps you current on the most recent tax for business news from the IRS. There’s no need to decipher confusing IRS lingo because we’ve got you covered when it comes to business taxes. Always check back here for information on new business deductions and credits that you should be claiming for your LLC or Partnership. From claiming deductions to filing your return, we handle your taxes while you handle your business.

If you have questions about your business tax, then leave a comment on our blog posts. Our tax experts will provide you with the answers that you need!

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2024 Tax Changes May Generate Better Tax Refunds
admin
Dec 21, 2023

2024 Tax Changes May Generate Better Tax Refunds

In the upcoming year of 2024 tax filing, prepare for a pleasant surprise as significant tax modifications are set to take effect. Brace yourself for potential financial gain, as your paycheck has the potential to grow generously if you find yourself in a lower tax bracket.

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2023 Year End Charitable Donations for Tax Filing
admin
Dec 7, 2023

2023 Year End Charitable Donations for Tax Filing

Towards the year’s close, many individuals are looking towards charitable donations as part of their financial strategy.

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8 Very Commonly Overlooked Tax Deductions and Tax Credits
admin
Nov 30, 2023

8 Very Commonly Overlooked Tax Deductions and Tax Credits

Taxpayers tend to overlook certain tax deductions, tax credits, and even tax exemptions that can help them pay less in taxes.

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1099-K for TPSO Reporting Delay For Tax Year 2023
admin
Nov 23, 2023

1099-K for TPSO Reporting Delay For Tax Year 2023

The IRS has announced a postponement of Form 1099-K reporting requirements for third-party platforms in 2023

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2024 New Tax Brackets
admin
Nov 16, 2023

2024 New Tax Brackets

The Internal Revenue Service has taken steps to ensure that the new 2024 tax brackets reflect the current consumer price index. This 5.4% upward adjustment

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401(K) and IRA for Tax and Investing
admin
Nov 9, 2023

401(K) and IRA for Tax and Investing

When it comes to retirement savings options, 401k and IRAs are some of the most notable vehicles.

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11 Strategies to Lower Your Tax Bill
admin
Nov 2, 2023

11 Strategies to Lower Your Tax Bill

While utilizing some of these 11 strategies may necessitate itemizing tax deductions instead of taking the standard tax deduction, it could be well worth it in lowering your taxes.

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November 16. A New Extended 2023 California Tax Extension Deadline
admin
Oct 19, 2023

November 16. A New Extended 2023 California Tax Extension Deadline

Taxpayers in California have been offered an California Tax Extension of the 2023 tax deadline. Here’s what you need to be aware of concerning the extra time the Internal Revenue Service (IRS) gives.

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Tax Implications for Reselling
admin
Oct 12, 2023

Tax Implications for Reselling

Reselling may be a viable option for those considering an additional side gig. However, it is important to consider its potential impact on your tax situation.

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What is Tax Extension Filing Deadline and What happens in October?
admin
Oct 5, 2023

What is Tax Extension Filing Deadline and What happens in October?

For those involved with businesses across the U.S. and Canada, it is important to stay abreast of crucial income tax extension deadline in October 16

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