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Big Apple Accounting has a fun tax fact to share with you.

Here are the June 2023 Business Due Dates

June 2023 Business Due Dates

The amount of your Social Security benefits that are taxable (if any) depends on your total income and marital status. Planning strategies, such as deferring income or tailoring IRA distributions to minimize tax, can lessen the overall tax on some individuals' Social Security benefits. Also, the amount you pay for Medicare is based upon your income two years prior.

You May Be Able to Minimize the Tax on Your Social Security Benefits and the Cost of Your Medicare Benefits Whether your Social Security benefits are taxable (and, if so, the amount that is taxed) depends on several issues including filing status and income. In addition, the amount that is withheld from your Social Security benefits to pay for your Medicare premiums is similarly determined.

Here are the June 2023 Individual Due Dates

June 2023 Individual Due Dates

Get inspired. Some Wednesday Wisdom from NEW YORK based Big Apple Accounting

It is not uncommon to discover that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after a tax return was already filed. Regardless of whether the oversight will result in more tax due or a refund, it should not be dismissed and an amended tax return should be filed.

Did You Overlook Something on a Prior Tax Return? It is not uncommon to discover that an item of income was overlooked, a deduction was not claimed, or that an amended tax document was received after the tax return was already filed. Regardless of whether the oversight will result in more tax due or a refund, it should not be dismissed.

Make your Monday great with this motivation from Big Apple Accounting

For those who love learning: here's a small business statistic from Big Apple Accounting.

Maximizing business growth: Breaking things down.

Business Growth: How to Plan for (and Make the Most of) This Critical Stage

Let's get the weekend started. Friday from Big Apple Accounting

YouTube may officially be the second most visited website in existence, but it certainly didn't look destined to achieve that status.

How YouTube Became the Second Most Visited Website in Existence: The Story So Far

Using the installment sale method of receiving and reporting the gain from the sale of a capital asset can spread that gain over multiple years, and possibly avoid the higher capital gains rates as well as avoid or minimize the 3.8% surtax on net investment income.

Defer Taxes with Installment Sales Selling a property one has owned for a long period of time will frequently result in a large capital gain, and reporting all the gain in one year will generally expose the gain to higher-than-normal capital gains rates and subject the gain to the 3.8% surtax on net investment income.

Midweek Wednesday Wisdom from Big Apple Accounting

Money raised from online crowdfunding sites for purposes other than business is generally treated as a nontaxable gift if the contribution is made with detached generosity, but this can raise some unexpected gift tax issues. Learn more.

Tax Consequences of Crowdfunding Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. Several sites host money-raising projects for fees generally ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site specifies its own charges, limitations, and withd...

Additional Considerations About Living Abroad and Paying Taxes. Learn more.

Are You an American Living Abroad? Here Are the Essential Tax Facts to Consider

Big Apple Accounting - Some Monday Motivation for our friends and colleagues.

Big Apple Accounting has a fun SMB statistic to share with you.

End of week tax fact from Big Apple Accounting

Starting a small business can be a risky undertaking and Internal Revenue Code Section 1244 provides special tax treatment to the disposition of certain qualifying stock of small businesses.

How Does Code Section 1244 Affect Stock Sales And How Can You Take Advantage Of It? Starting a small business can be a risky undertaking and Internal Revenue Code Section 1244 provides special tax treatment to the disposition of certain qualifying stock of small businesses. It essentially allows losses up to $50,000 ($100,000 for married taxpayers filing jointly) to be subject to t...

There are several steps that you can take today that will help your finances. Learn more.

Help Your Own Finances With These Essential Best Practices

Payroll Problems: Richie's Fast Food Restaurant withheld payroll taxes from its employees' paychecks, however, the owner neglected to file any of his quarterly tax returns. Story via

Cincinnati Restaurant Owner Under Arrest For Tax Fraud The owner of a Cincinnati fast-food restaurant chain has been placed under arrest for tax fraud. Full story inside.

2023 brings with it a whole new set of rules related to qualifying for the tax credit for purchasing a new or pre-owned (used) electric vehicle. Among the changes that must be navigated are buyer income limitations, vehicle assembly and component limitations and even vehicle price caps.

Considering a New or Pre-Owned Electric Vehicle? Read This First to See If You Will Benefit From a Tax Credit 2023 brings with it a whole new set of rules related to qualifying for the tax credit for purchasing a new or used electric vehicle. Among the changes that must be navigated are buyer income limitations, vehicle assembly and component limitations and even vehicle price caps.

Big Apple Accounting - Some Saturday business knowledge for our friends and colleagues.

DIY bookkeeping warning signs: Breaking things down. Learn more.

Warning Signs That You Should STOP Managing Your Own Books

Big Apple Accounting - Some Friday tax knowledge for our friends and colleagues.