Tax Titans

Happy 4th of July from the Tax Titans family! We hope your day is filled with sunshine, fireworks, and good ol' American BBQ. As we celebrate our nation's independence, let's take a moment to reflect on the freedoms we enjoy and the sacrifices made by those who came before us. Whether you're spending the day at a backyard cookout or watching the fireworks light up the night sky, remember to cherish these moments with your loved ones. And hey, if you need any tax advice or assistance after all that celebrating, you know where to find us – we'll be here ready to help. Have a fantastic 4th of July! Create your free profile today at tax-titans.com.

For immediate release:

Tax Software Industry Leader, Michael Jenkins, Joins Tax Titan Inc Board of Directors

Greenville, South Carolina - Tax Titan Inc, a pioneering veteran-owned company, is proud to announce the addition of Michael Jenkins to its esteemed Board of Directors. Michael Jenkins brings with him a wealth of experience, having served as the former Director of National Accounts at Drake Software, a prominent figure in the tax software industry, for an impressive 23-year tenure.

Throughout his extensive career at Drake Software, Jenkins held key positions, including Director of National Accounts and Director of Web Analysis and Systems. His deep understanding of the industry, coupled with his leadership skills, positions him as a valuable asset to Tax Titans and Titan Development Corps

Alan Blakeborough, Founder, and CEO of Tax Titans expressed his enthusiasm about Michael's inclusion in the board, stating, "Michael was one of the first supporters of our marketplace, vision and our veteran team. His leadership in the accounting profession is something that I have admired over the past two years. The experience and vision of how things can be done in the accounting space will help bring Tax Titans to the next level in serving the accounting profession."

In response to joining Tax Titans BOD, Michael Jenkins stated, "Serving others is an integral part of who I am. Growing up under the guidance of my father, a Vietnam War veteran who served in the U.S. Navy, instilled within me a deeply-rooted respect for the courageous individuals who have dedicated themselves to our nation's defense. It is with great honor that I am able to contribute to the Tax Titans' board and its various initiatives, which aim to benefit the American taxpayer and uphold the principles of our great country."

Tax Titans is a veteran-owned company that has pioneered the first online marketplace dedicated to bridging the gap between individual taxpayers, 32 million small businesses across the U.S., and top-tier tax experts. The platform offers a transparent bidding system, allowing qualified professionals to compete for business.

Alan "F3 Zorro" Blakeborough emphasized the necessity for innovation in the tax preparation market, comparing it to other industries that have experienced significant disruptions through online platforms. Tax Titans aims to address the talent crisis in the accounting profession and transform the tax preparation market.

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William D Taylor IV William Price Julie A. Bonness Philip Whitman, CPA, CEPA David Wolfskehl James Summer Carl Peterson National Association of Enrolled Agents National Association of Tax Professionals Brandon Martin, CPA Camden Weis Erik Stielow Shannon Hay Gary DeHart Rory Henry, CFP®, BFA™ Linh Xavier V.

Tax Titans - Find Tax Pros. Save 30-50% on Tax Preparation Find tax professionals & save 30-50% on tax prep. Tax Titans connects you directly with qualified tax pros for stress-free tax filing. Get a free quote today!

Hey there, dads! This Father's Day, the Tax Titans family wants to give a big shoutout to all you amazing fathers out there. We appreciate everything you do day in and day out for your loved ones. Whether it's fixing things around the house, teaching valuable life lessons, or simply being a strong shoulder to lean on, we see your hard work and dedication. So here's to you - may your day be filled with love, appreciation, and maybe even a little relaxation (if you're lucky)! Keep being the awesome dad that you are, because you truly deserve all the recognition in the world. Happy Father's Day from all of us at Tax Titans!

On this Memorial Day, the Tax Titan Family extends our heartfelt gratitude and remembrance to all the brave men and women who have made the ultimate sacrifice in service to our country. It is a time to honor and pay tribute to those who have courageously defended our freedoms, values, and way of life. As we gather with loved ones for picnics and celebrations, let us pause to reflect on the sacrifices made by our fallen brothers and sisters, and express our deep appreciation for their selfless dedication and unwavering commitment. May we never forget their courage, valor, and sacrifice in protecting our nation. Today, we stand united with grateful hearts, offering our thoughts and prayers to all those who have served and continue to serve in defense of our great nation. Happy Memorial Day from the Tax Titan Family.

Happy Mother's Day! We just wanted to take a moment to send well wishes from our family to yours on this special day. Mothers are truly the backbone of any family, selflessly giving their love, time, and energy to support and nurture their children. Whether you're celebrating with your own mother, grandmother, stepmother, or another maternal figure in your life, it's important to show appreciation for all they do. So here's to all the incredible moms out there - thank you for everything you do, and may your day be filled with love, laughter, and plenty of pampering. Cheers to you!

Happy Military Spouse Appreciation Day! Today is all about recognizing and celebrating the incredible contributions that military spouses make to our armed forces. From supporting their partners during deployments to holding down the fort at home, these men and women play a vital role in ensuring the success of our military operations. They juggle responsibilities, make sacrifices, and show unwavering strength in the face of challenges that come with military life. So let's take a moment today to say thank you to all the military spouses out there for their resilience, dedication, and unwavering support. Whether it's a simple gesture or words of gratitude, let them know how much we appreciate all that they do for our country and our service members. Cheers to you, military spouses – you are truly amazing!

Standard deduction increase: For tax season 2024, the standard deduction increased to $13,850 for single filers and $27,700 for married couples filing jointly. Some new things this year include an increased standard deduction, adjusted tax brackets, and some key changes to common tax credits and deductions. Tax brackets increase: Income tax brackets went up in 2023 to account for inflation.

Tax Season 2024: What You Need to Know (and Looking Ahead to 2025) You may not be looking forward to tax season 2024, but filing your taxes doesn't have to be difficult. Here's everything you need to know to get started!

Connect with Tax Titans on these social media platforms, and create your FREE, no-obligation profile at tax-titans.com.

Bracket creep results in an increase in income taxes without an increase in real income. The same paycheck covers less goods, services, and bills. to prevent what is called 'bracket creep Bracket creep occurs when inflation pushes taxpayers into higher income tax brackets or reduces the value of credits, deductions, and exemptions.

2024 Tax Brackets Explore the IRS inflation-adjusted 2024 tax brackets, for which taxpayers will file tax returns in early 2025.

The website provides information on tax changes and sales tax.

2024 Sales Tax Changes Guide - Avalara Read about the latest changes in sales tax and what they mean for your business in the 2024 Avalara sales tax changes guide.

Get Federal And State Tax Id Numbers

Your state tax ID and federal tax ID numbers — also known as an Employer Identification Number (EIN) — work like a personal social security number, but for your business. They let your small business pay state and federal taxes.

As a small business owner, it's vital to understand the importance of obtaining both a federal tax ID number and a state tax ID number, also known as an Employer Identification Number (EIN). These numbers act as a personal social security number for your business, ensuring that you can pay the necessary state and federal taxes required by law. In this article, we will delve into the process of obtaining these essential identification numbers and explain why they are crucial for the success and legal compliance of your business.

Let's start by understanding the difference between a federal tax ID number and a state tax ID number. The federal tax ID number, or EIN, is a unique identifier issued by the Internal Revenue Service (IRS) to businesses operating in the United States. On the other hand, the state tax ID number is issued by the respective state's tax authority and is specific to businesses conducting operations within that particular state.

Obtaining a federal tax ID number is relatively straightforward. The EIN application process can be completed online through the IRS website, or you can submit Form SS-4 via mail or fax. It's essential to provide accurate information about your business, such as its legal structure, type of organization, and primary activities. Once your application is processed and approved by the IRS, you will receive your EIN, which will be used for federal tax-related purposes.

While obtaining a federal tax ID number is essential, many small business owners also need to acquire a state tax ID number to comply with their respective state's taxation requirements. This identification number is necessary to report and pay state income taxes, sales taxes, and other state-specific business taxes. The process of obtaining a state tax ID number varies from state to state, but it typically involves filling out an application form provided by the state's taxation agency.

It is important to note that not all states require a separate state tax ID number. Some states use the federal EIN as the only identification for state taxes. However, it's always best to consult with your state's tax authority or an experienced tax professional to determine the specific requirements in your state.

The benefits of obtaining both a federal and state tax ID number are numerous. Firstly, these identification numbers enable your business to legally pay state and federal taxes. Failure to do so can result in hefty penalties and legal issues that may jeopardize your business's financial stability. Additionally, having an EIN and state tax ID number allows you to open a business bank account, apply for permits and licenses, hire employees, and establish credibility with suppliers and partners.

Moreover, these identification numbers play a crucial role in safeguarding your business's finances and personal information. Instead of using your personal social security number for business-related matters, the EIN and state tax ID number provide an extra layer of security by keeping your personal and business finances separate. This separation not only simplifies tax filing and financial record-keeping but also protects your personal assets and privacy.

In conclusion, obtaining both a federal tax ID number and a state tax ID number is essential for the success and legal compliance of your small business. These identification numbers allow you to pay state and federal taxes, comply with state-specific tax requirements, and establish credibility with financial institutions and business partners. They also safeguard your personal information and assets by keeping your personal and business finances separate. By understanding the importance of these identification numbers and following the necessary steps to obtain them, you can ensure the smooth operation of your business and avoid potential legal and financial complications.

You can always count on Tax Titans to help you navigate the complex world of taxes. Visit tax-titans.com today. Create your FREE, no-obligation profile. Start getting bids on your tax needs. Choose the tax professional that fits your exact needs.

Tax Titans - Find Tax Pros. Save 30-50% on Tax Preparation. Tax Titans eliminates the need of a traditional tax firm by connecting Tax Professionals with business owners. Save 30-50% on your tax preparation.

The website provides information on tax changes for retail businesses.

2024 Guide to Retail Tax Changes - Avalara Learn about the tax changes affecting global businesses in 2024, from e-invoicing mandates to VAT in the Digital Age.

Five Most Common Tax Mistakes
Made By Small Business Owners

Owning a small business can be an exciting and rewarding venture. However, it also comes with a myriad of responsibilities, one of which is navigating the complex world of taxes. Small business owners often find themselves making common tax mistakes that can lead to costly penalties and audits. In this article, we will explore the five most common tax mistakes made by small business owners and provide tips on how to avoid them.

1. Failing to keep accurate records: One of the biggest mistakes small business owners make is not maintaining thorough and accurate records of their income and expenses. Without proper documentation, it becomes challenging to prove deductions and expenses. It is crucial to keep track of all financial transactions, including receipts, invoices, bank statements, and sales records. Invest in accounting software to streamline your record-keeping process and ensure you have all the necessary information when it comes time to file your taxes.

2. Misclassifying employees: Another common tax mistake made by small business owners is misclassifying employees as independent contractors. This error can lead to significant tax consequences. To determine the proper classification, familiarize yourself with the IRS guidelines or consult a tax professional. Misclassification could result in fines, penalties, and even lawsuits. Take the time to understand the rules surrounding employee classification to avoid unnecessary complications.

3. Neglecting to separate business and personal expenses: Small business owners often make the mistake of commingling their personal and business expenses. It is vital to maintain separate bank accounts and credit cards for your business to avoid confusion and accurately track your business-related transactions. Mixing personal and business expenses can raise red flags during an audit and may result in disallowed deductions or penalties. Keeping your finances separate demonstrates your commitment to running a legitimate business and helps simplify the tax filing process.

4. Failing to pay estimated taxes: Small business owners are responsible for paying estimated taxes throughout the year. This tax mistake often occurs when entrepreneurs underestimate their tax liability or overlook the quarterly payment deadlines. Failure to pay estimated taxes can result in penalties and interest charges. To avoid this mistake, consult with a tax professional or use an online tax calculator to estimate your quarterly tax payments and make timely payments to the IRS.

5. Ignoring tax deductions: Small business owners often miss out on valuable deductions due to a lack of awareness or understanding. Taking advantage of tax deductions can significantly reduce your tax liability. It is essential to stay informed about the deductions available to your specific industry and ensure you are documenting all eligible expenses. Consult with a tax professional to identify and maximize the deductions you qualify for, such as home office expenses, business-related travel, and equipment purchases.

In conclusion, small business owners can avoid costly tax mistakes by staying organized, understanding employee classification rules, separating personal and business expenses, paying estimated taxes, and maximizing available deductions. By proactively addressing these common errors, small business owners can navigate the tax landscape with confidence and ensure compliance with the IRS. Remember, seeking professional assistance when needed can help you make informed decisions and minimize your tax liability, allowing you to focus on growing your business.

You can always count on Tax Titans to help you navigate the complex world of taxes. Visit tax-titans.com today. Create your FREE, no-obligation profile. Start getting bids on your tax needs. Choose the tax professional that fits your exact needs.

Tax Titans - Find Tax Pros. Save 30-50% on Tax Preparation. Tax Titans eliminates the need of a traditional tax firm by connecting Tax Professionals with business owners. Save 30-50% on your tax preparation.

📊 Tired of tax confusion? 🧾 Create a FREE profile on Tax Titans and breeze through tax season! ✅

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Access your individual account information including balance, payments, tax records and more.

Your Online Account | Internal Revenue Service Sign in or create an online account. Review the amount you owe, balance for each tax year, payment history, tax records and more.

Happy Easter from the Tax Titans Family! We hope this holiday brings you joy, laughter, and maybe even a chocolate bunny or two. If you're feeling overwhelmed by taxes this season, don't worry - we've got your back. At tax-titans.com, you can create a free, no-obligation profile to access expert tax advice and guidance from our team of professionals. Whether you're a seasoned pro or a first-time filer, we're here to make sure your taxes are done right and maximize your return. So kick back, enjoy some Easter treats, and let the Tax Titans take care of the rest!

Time to hang up your tax cape? Let the Tax Titans Eternals Purchase Program help you transition into a well-deserved retirement. 🌟 Our expert team will ensure the best outcome for you and your practice. Explore the possibilities at taxtitanseternals.com 🎉

Tax Titans are transforming the way people file their taxes. The new tax filing platform is making it easier than ever for consumers to get their taxes done quickly and securely, without the hassle and expense of visiting a tax office. Visit tax-titans.com and create your FREE, no-obligation profile today.

Tax Titans allow you to create a free, no-obligation profile from your smartphone or tablet, no matter where you are. This means you can connect with tax professionals directly from your device without ever having to leave the comfort of your home or office. It's easy to use. Visit tax-titans.com and create your FREE, no-obligation profile today.

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You can find Tax Titans on your favorite media outlets like LinkedIn, YouTube, Twitter, Instagram, and Facebook. Stay up-to-date with the latest insights and tips from Tax Titans. So don't wait any longer – start following Tax Titans today to get all the information you need! Create your FREE, no-obligation profile today at tax-titans.com.

Do you own a small business? Can’t get time with your accountant?
You have direct access to hundreds of tax professionals with Tax Titans. Get the time and answers you deserve with your chosen tax professional when you need it.
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Hey there, folks! Just wanted to give you a friendly reminder that Tax Titans is here to let you know we're springing forward tonight. So before you hit the hay, don't forget to set your clocks ahead one hour. We know losing that hour of sleep might be a bit rough, but just think about all the extra sunlight we'll be getting soon! And hey, maybe use that extra bit of daylight to start tackling your taxes if you haven't already (wink, wink). So go ahead and adjust those clocks before turning in for the night – we've got your back when it comes to staying on top of things. Enjoy the longer days ahead!

Happy Women's Day! Tax Titans extends its deepest respect and admiration to all women CPAs, EAs, Accountants, professionals in the accounting field, and women everywhere. Your dedication, expertise, and hard work are truly commendable and have significantly contributed to the success of your clients and organizations. Your professionalism, attention to detail, and commitment to accuracy are invaluable assets that shape the future of accounting. Tax Titans salutes your unwavering determination, resilience, and leadership in advancing the accounting profession. On this special day, we recognize and celebrate your achievements, paving the way for more opportunities for women in the financial sector. Thank you for all that you do!

We are a company owned by U.S. veterans, dedicated to revolutionizing the tax preparation process. We invite you to join our team and be a part of this exciting venture! Create your FREE profile at tax-titans.com.

Get your taxes done right and with confidence. Our Team of tax experts is ready to help clients file their taxes professionally and confidentially this tax season. Create your FREE no-risk profile today at tax-titans.com.

With Tax Titans, you are empowered to control of your tax preparation. Create your free, no-obligation profile at tax-titans.com. Use in the referral code box when creating your profile.

The small accounting firms answer to the shortage of accounting and tax talent. Small firms can now network with other small firms and set their prices and work securely. The Small Accounting Firm Enterprise System. Contact Tax Titans Today!
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