by The Foncannon Team | Jul 31, 2024 | Uncategorized
As we progress through the last half of the year, it’s essential to understand what income sources are not subject to taxation. Being aware of tax-free income can help you keep more money in your pocket and make informed financial decisions throughout the year...
by The Foncannon Team | Jul 30, 2024 | Uncategorized
As a parent, teaching your children the importance of money management and instilling a solid work ethic is crucial for their future success. One effective way to accomplish this is by employing your child in your business. Not only does this provide them with...
by The Foncannon Team | Jun 29, 2024 | Uncategorized
Embracing the warmth and adventure of summer offers more than just a chance to relax and enjoy the outdoors; it can also present opportunities to make savvy financial moves that benefit your tax situation. From life changes like getting married, which necessitates a...
by The Foncannon Team | May 30, 2024 | Uncategorized
What does a K-1 form entail? In the United States tax system, certain entities have the option to utilize pass-through taxation, which transfers the responsibility of income tax from the earner to those who benefit from it. The Schedule K-1 form is used to report the...
by The Foncannon Team | May 24, 2024 | Uncategorized
Are there tax breaks for working from home? If you own a small business and use part of your home for work, you may qualify for a tax deduction on your home office. However, should you worry that claiming this deduction will increase your chances of an IRS audit? What...
by The Foncannon Team | Apr 27, 2024 | Uncategorized
Now that the tax season is over (unless you file an extension), it’s the perfect time to organize your tax-related documents. It’s best to keep these documents for at least three years after the due date of your tax return (the IRS usually has this much...
