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14 Common Tax Penalties to Avoid in 2025

Most taxpayers don’t intentionally incur tax penalties, but many who are penalized are not aware of the penalties or their potential financial impact. As tax season approaches, you must familiarize yourself with common tax penalties and ways to avoid them. Below are 14 key tax penalties that taxpayers may encounter…
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How to Create Price Levels in QuickBooks?

QuickBooks is a versatile accounting tool that helps businesses manage financial transactions efficiently. One of its powerful features is the ability to create and manage Price Levels. These allow you to adjust the prices of your products and services, offering flexibility to cater to different customers, jobs, or transaction types.…
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Role of Incorporation in Empowering Disadvantaged Businesses

In today’s dynamic global economy, disadvantaged businesses—those owned by women, minorities, veterans, and individuals from economically underserved areas—face unique challenges. These businesses often struggle with limited access to funding, networking opportunities, and institutional support, which hinders their ability to compete with well-established enterprises. Despite these hurdles, disadvantaged businesses can thrive…
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Mentors Play a significant role in Empowering Women Entrepreneur

Deducting Health Insurance Premiums: What You Need to Know

Health insurance premiums have become a significant expense for individuals and families. Fortunately, tax laws provide ways to reduce this burden through deductions, either as an itemized deduction or as an above-the-line deduction for certain self-employed individuals. Understanding these options, along with the limitations and eligibility criteria, can help you…
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How to Create Product Records in QuickBooks Online, Part 2

  QuickBooks Online (QBO) makes managing your business’s products and services simple. Whether you sell physical goods or provide services, creating accurate product records in QBO is essential for tracking inventory, pricing, and revenue. In this guide, we’ll cover the advanced aspects of product records in QuickBooks Online, including customization,…
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Tax Preparation During a Government Shutdown

Benjamin Franklin once remarked, “In this world, nothing can be said to be certain, except death and taxes.” Taxes, as the financial backbone of government operations, are inescapable even during a government shutdown. Whether you’re expecting a refund or owe the Internal Revenue Service (IRS), preparing and filing taxes during…
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