Holiday Bonuses: What Small Business Owners and Employees Need to Know

Holiday bonuses are often a welcome surprise for employees and a great way for employers to celebrate the season and show appreciation, but they come with some important tax rules to keep in mind —whether you’re on the giving or receiving end. For Small Business Owners Remember that the IRS sees bonuses as income and […]

Maximizing Tax Benefits When Selling Your Home

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Fall can be a strategic time to prepare your home for sale and maximize your tax benefits, despite the perceived slowdown in the housing market as summer concludes. With careful planning and professional guidance from David A. Santini, CPA LLC, you can take advantage of various tax benefits to maximize your financial gain when selling […]

Navigating the Next Steps in BOI Reporting Compliance

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In the wake of the Beneficial Ownership Information (BOI) reporting requirements implemented earlier this year, business owners need to stay ahead of the curve. As a refresher, BOI reporting mandates that certain entities, including Limited Liability Companies (LLCs) and Corporations, disclose their beneficial owners to government authorities. Beneficial owners are individuals who directly or indirectly […]

Can You Still Claim Your College-Bound Child as a Dependent?

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What an exciting time! Your child has just graduated high school and is off to college in a few weeks. Amidst all the preparations and celebrations, you might wonder about your tax situation: can you still claim your college-bound child as a dependent? The good news is, in many cases, the answer is yes! However, […]

Smooth Sailing: Preparation and Confidence are Key to Navigating an IRS Audit

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Facing an IRS audit doesn’t have to be an intimidating experience. With the right knowledge and preparation, you can navigate it smoothly and confidently. Being selected for an IRS audit doesn’t automatically indicate you did something wrong. Audits are conducted to verify the accuracy of tax returns and ensure compliance with tax laws. Discrepancies between […]

Are Tax Relief Companies Worth the Cost? Proceed with Caution.

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Tax season has come to a close and while some individuals have put it behind them, others are facing the reality of tax bills. It may be surprising to find out you owe taxes or worse, you may not be prepared for the cost. As you consider your options to resolve the debt, it’s essential […]

Maximizing Tax Success: Strategic Steps for Small Business Owners

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It makes good financial sense for small business owners to continually evaluate the state of their finances and tax obligations. This can become glaringly apparent to you if your outcome this tax season was not what you were expecting.  To position your small businesses for more favorable results in the year ahead, it’s important to […]

Are You Missing Out On These Money-Saving Deductions?

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Ready to trim down your tax bill this year? Several deductions often slip under the radar for many taxpayers. Let’s dive into some deductions you shouldn’t overlook! Home Sweet Home: Is a portion of your home used exclusively for business? Whether you’re self-employed or work remotely, expenses such as utilities, insurance, and even a portion […]

What’s the Buzz About Beneficial Ownership Information

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There is a notable buzz circulating in the business world regarding the New Beneficial Ownership Information Reporting (BOI). However, for some people, it is accompanied by a sense of uncertainty. BOI reporting refers to regulations aimed at enhancing transparency in corporate ownership by mandating that certain entities, such as Limited Liability Companies (LLCs) and Corporations […]