Third Quarter Tax Deadline 2025: What You Need to Know Before September 15
If you make quarterly estimated tax payments, the next big date on your calendar is September 15, 2025. This is the third quarterly tax deadline for the year, and it’s one of the most important because it covers income you’ve earned during the summer, a period that can bring unpredictable swings in cash flow for…
Read MoreIRS Child Tax Credit in 2025: A Practical Guide for U.S. Families
The IRS Child Tax Credit in 2025 is a powerful tool to help working families lower their federal tax bill or increase their refund. This guide walks through what’s available in 2025, who qualifies, how to claim the credit, and what common pitfalls to avoid. Whether you’re a parent, guardian, or tax preparer helping a…
Read More1099 Independent Contractor Taxes: A Guide for Contractors and Businesses
Hiring 1099 independent contractors can simplify payroll and “avoid” payroll taxes, but also brings potential tax and compliance issues. Businesses (especially construction and contractor firms) must correctly classify workers, issue the right tax forms, and handle reimbursements properly. Misclassification is costly: if the IRS finds that a contractor was really an employee, your business can…
Read MoreAre Travel Expenses Deductible? Your 2025 Guide to Tax-Deductible Business Trips
If you’ve ever asked yourself whether travel expenses are deductible when you’re travelling for business, the answer is yes, but only under the right conditions. Not every trip qualifies, and not every cost is allowed. The IRS has clear rules about when travel counts as a business expense and when it doesn’t. That’s why we…
Read MoreThe Truth About the $3000 IRS Tax Refund: What You Need to Know
Lately, your feed might be flooded with influencers saying the IRS owes you $3,000, no strings attached. The claim is everywhere: “Just file this one form and get $3,000 from the IRS!” Let’s be clear: There is no official IRS program called the “$3000 IRS tax refund.” But the buzz didn’t come out of nowhere. There…
Read MoreWhen Playing It Safe Could Cost You: What to Know About Form 8275
If you’ve ever skipped a legitimate deduction or avoided a gray-area tax strategy just to stay under the IRS radar, you’re not alone. But that’s exactly where Form 8275 can help. This underused disclosure form lets real estate investors, contractors, and business owners take smart, defensible tax positions without risking penalties. It’s not a loophole.…
Read MoreQ2 Estimated Tax Deadline: What Small Business Owners Need to Know Before June 16
If you run a small business or work independently, staying on top of tax deadlines is crucial. The Q2 estimated tax payment deadline is June 16, 2025. Missing it could result in unexpected penalties and interest, even if you’re expecting a refund when you file your return. Whether you’re a contractor, real estate professional, or…
Read MorePost-Tax Season Headache? Here’s How to Prep for a Smoother Filing Next Year
Feeling hungover after this tax season? For many small business owners, tax season is the tipping point of an already high stress job. As an entrepreneur, you’re always working to make the clients’ experience better, but are you working to make your own processes smarter? Attracct can help with some post-tax season tips! If you found…
Read MoreMid-Year Small Business Owner Tax Tips – Strategies Used by Millionaires
The changes in tax guidelines at both the federal and state levels in 2025 bring new complexities, as well as opportunities, for small business owners to reduce their tax liabilities and improve cash flow. Luckily you have Attracct to help with some small business owner tax tips. Federal Tax Changes to Know in 2025 Expiring QBI…
Read MoreBig Beautiful Bill 2025: Overview of Proposed Tax, Spending, and Policy Changes
The “Big Beautiful Bill” (BBB) of 2025 is a sweeping Republican legislative proposal to extend and expand the 2017 Trump tax cuts and implement major spending changes. It combines permanent tax cuts (making many Tax Cuts and Jobs Act [TCJA] provisions permanent) with new tax breaks and offsets that include spending cuts and policy rollbacks. …
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