Selling Stocks, Property, or Crypto? Missouri’s New Law Could Save You Thousands
Big changes are coming to Missouri taxes, and this time they’re in your favor. Thanks to House Bill 594 (HB 594), signed by Governor Mike…
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The Myth of the “Self Employment Tax Credit”
In this article we’re focusing on another top tax scam on the IRS’s 2025 Dirty Dozen: the so-called Self Employment Tax Credit, which is a…
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Too Good to Be True: The Truth About Fuel Tax Credit Scams
When Scams Go Off-Road (Literally) Welcome back, savvy taxpayers! We’re rolling into No. 5 on the IRS’s annual Dirty Dozen list: the infamous False Fuel Tax…
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Big Tax Shifts Ahead: What’s in the “Big Beautiful Bill” for Families and Businesses
The tax landscape may soon shift again. The “One Big Beautiful Bill,” passed by the House in May, is now being debated in the Senate—and…
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Meet Johny Tran: Helping Clients Navigate Complex Tax Needs
Johny has been part of the Smith Patrick CPAs team for some time, working behind the scenes to help our clients navigate increasingly complex tax…
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Living Abroad? 10 Tax Truths Every U.S. Expat Should Know
Living abroad might feel like a fresh start, but when it comes to taxes, the U.S. keeps you on its radar. If you’re an American…
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Oops! Missed the Tax Filing Deadline? Here’s What to Do Next
So, April 15th came and went, and your tax return is still sitting in your to-do pile. First, take a deep breath. You’re not alone,…
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Dodging the Tax Traps: Common Expat Mistakes (and How to Avoid Them)
Moving abroad is an adventure—new culture, new cuisine, new… taxes? That last one isn’t exactly the highlight of anyone’s expat experience, but it’s crucial to…
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What U.S. Expats Should Know About Taxes Abroad
Sunsets in Spain. Pasta in Italy. Life abroad has plenty of perks—but tax season isn’t one of them. For U.S. citizens and Green Card holders,…
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Filing Last-Minute Taxes? Here’s How to Save—and Stay Sane
We’re in the final stretch of tax season. If you haven’t filed yet, you’re not alone. The IRS says about 25% of Americans wait until…
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How to Make Tax Season Less Painful (Yes, Really)
Tips for Getting Organized and Working with Your Accountant Tax season is back—cue the collective groan. But it doesn’t have to be a stressful, last-minute…
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Maximize Your Legacy: Is a Dynasty Trust the Key to Preserving Your Wealth?
With the 2024 elections on the horizon, tax discussions are increasingly focused on potential changes that could impact estate planning strategies. Estate planning opportunities today…
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Bitcoin, NFTs, and Crypto Crashes: Understanding the Tax Implications
In the fast-paced world of digital currencies, staying informed about the latest tax obligations is more important than ever. With cryptocurrencies becoming increasingly integrated into…
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Setting the Stage for a Smooth Tax Season
Preparing for Your 2023 Tax Returns & Planning Ahead for 2024 As we step into 2024, the annual ritual of preparing tax returns is upon…
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Smart Tax Moves: How to Save More When Filing Your Taxes
As the time to file your 2023 tax returns inches closer, it’s crucial to arm yourself with strategies that can save you money. Whether you’re…
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Harnessing the Power of Year-End Tax Planning
As we approach the end of the year, it’s crucial to focus on tax planning to ensure financial efficiency and compliance. This article explores essential…
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Corporate Jets and the IRS: Making Sense of Airplane Tax Regulations
With the world of business travel in full swing, the appeal of having a corporate airplane grows stronger. Imagine no more waiting in lines, no…
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Starting a Business? Don’t Miss These Tax Essentials
Embarking on the journey of starting a new business is both exciting and daunting. While you might be enthusiastic about your product or service, the…
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Accounting | Cannabis | News
Smith Patrick Cannabis Accounting Expert to Present at Lucky Leaf Expo, St. Louis, MO
Sarah Bantz, CPA, Shares Cannabis Accounting Expertise The leading cannabis expo, Lucky Leaf, is coming to Missouri on Oct. 6-7, 2023. Smith Patrick’s Sarah Bantz,…
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Accounting | Cannabis | Consulting | Tax
Missouri Marijuana 2023 Tax Update: Rays of Hope
In a significant development for the cannabis industry, licensed marijuana businesses in Missouri are now permitted to bypass 280E for state tax filings. This new…
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Summer Moves and Taxes: Unlocking the IRS Exclusion for Home Sellers
Summer is “moving season” for many people, as they sell one home and move to another. As the warm weather beckons, individuals and families seize…
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Cannabis | Consulting | Tax
What to Expect During IRS Cannabis Audits
Cannabis Audit Procedures Revealed in Confidential IRS Document It’s been documented that the IRS looks closely at cannabis businesses. We’ll take a look at the…
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Avoid Cannabis Tax Mistakes that Can Destroy Your Company
Many marijuana companies have faced stormy financial situations recently with collapsing margins, oppressive taxes, and vanishing access to debt and equity capital. Despite financial woes…
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IRS increases marijuana business audits after COVID-19 lull
According to MJBizDaily.com, the IRS put much of its routine work on the back burner, including audits, enforcement and collections during the coronavirus pandemic. However,…
