IRS Warns of Top Tax Scams for 2023: How to Stay Safe
With tax payers feeling the crunch as tax season comes to an end, it’s a ripe time for scammers to strike. The Internal Revenue Service…
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How Smith Patrick CPAs Is Guiding Missouri’s Cannabis Entrepreneurs through the Tax Maze
The Missouri cannabis industry is growing, and Amendment 3 has brought new tax deductions for marijuana businesses. Smith Patrick CPAs, a cannabis-focused CPA firm, is…
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Accounting | Cannabis | Tax
Attention Marijuana Operators: Learn the Tax Implications of Missouri Amendment 3
Tax law is changing for Missouri cannabis businesses. On November 8, 2022, Missouri Amendment 3, the Marijuana Legalization Initiative, was approved by voters, extending marijuana…
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Self-Employed Health Insurance Tax Deduction
Tax benefits are available to self-employed individuals who pay health insurance costs. Self-employed taxpayers can deduct 100% of their health insurance costs in computing their…
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Save Money on Your 2022 Taxes
As we wrap up 2022, it’s important to take a closer look at your tax and financial plans. This year likely brought challenges and disruptions…
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This Tax Credit Can Help Employers Facing a Tight Job Market
In a challenging job market, the Work Opportunity Tax Credit (WOTC) may give employers a helping hand. The WOTC is available to employers that hire…
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High Gas Prices Lead IRS to Increase Mileage Rate for 2022—Again
The Internal Revenue Service recently announced a mid-year mileage rate increase, used for calculating business tax deductions for vehicle use. This rare mileage increase is…
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Biden Tax Plan
In this short video, James Curran CPA/PFS discusses President-Elect Biden’s proposed tax plan and what you can do to prepare.
