2025 Tax Trends: What Small Business Owners Need to Know
As we approach the new year, small business owners must stay ahead of the curve when it comes to tax planning. The tax landscape is constantly evolving, and 2025 is no exception. Understanding key tax trends can help you maximize deductions, minimize liabilities, and ensure compliance with new regulations. Whether you’re a sole proprietor, a […]
Tax Deadlines: W-2s, 1099s & Unemployment Tax Reports
Small businesses face numerous tax filing obligations, and adhering to tax deadlines is essential to avoid penalties. Among these are the requirements for filing W-2s, 1099s, and unemployment tax reports. For many small business owners, navigating these tax deadlines and associated tasks can feel overwhelming. Here’s a comprehensive guide to these crucial deadlines and tips […]
Getting Married in 2024: What You Need to Know About Taxes
Getting married in 2024 is an exciting milestone, and while planning your wedding and embracing married life, understanding how marriage affects your taxes is crucial. From changes in your filing status to potential impacts on your tax bracket, here’s what you need to know to stay informed and prepared. What Filing Status Do I Use […]
4th Quarter Estimated Taxes: When Is it Due?
For self-employed individuals, freelancers, and small business owners, managing quarterly estimated taxes is a critical part of staying on top of financial obligations. Missing these deadlines can lead to penalties and added stress during tax season. In this article, we’ll answer key questions about 4th quarter estimated taxes and explain how professional guidance from Scout […]
Consult a Tax Specialist: Guides Before Selling Your Home
Selling a house can be one of the most significant financial events in a person’s life. It involves not only transferring ownership but also understanding the tax implications, managing potential gains, and making informed financial decisions that can impact your overall financial health. Many are surprised to learn how tax laws apply to the sale […]
2025 Tax Brackets and Deductions: IRS Guidelines
The IRS has recently unveiled the 2025 tax brackets, along with updated standard deductions and other tax-related inflation adjustments for the 2025 tax year. These adjustments are made annually to keep pace with inflation and prevent taxpayers from moving into higher tax brackets as the cost of living rises. For many, these changes may lead […]
2024 Q3 Estimated Taxes: Key Deadlines & Insights
As we approach the latter part of 2024, it’s crucial for various taxpayers to be aware of the upcoming 2024 Q3 Estimated Taxes deadline. Whether you’re self-employed, an employee, or a business owner, knowing when your quarterly tax payments are due can help you avoid penalties and keep your finances in order. In this article, […]
Manage Your Taxes Actively: Easy steps in 2024
As we navigate through 2024, managing taxes efficiently has never been more critical. The complexities of tax regulations, deductions, and credits can be overwhelming, but with the right strategies, you can take control of your tax situation and maximize your benefits. At Scout Tax, we offer comprehensive tax services to help you stay ahead of […]
Navigating California Tax Brackets
Understanding California Tax Brackets California tax brackets mean your income is taxed at different rates as you move through various income thresholds. The state has ten brackets, ranging from 1% for incomes up to $10,099 to 13.3% for incomes over $1 million for single filers. This structure ensures higher earners pay a larger percentage of […]
How Health Insurance Affects Your Taxes
Health insurance and taxes are intricately connected, and understanding this relationship can help you make informed financial decisions. Here, we delve into the various ways health insurance impacts your taxes, including deductions, penalties, and credits. Premiums and Deductions Self-Employed Health Insurance Deduction Employer-Sponsored Health Insurance Premium Tax Credit Health Savings Accounts (HSAs) Eligibility and Contributions […]
