• holiday bonus

How are Holiday Bonuses Taxed?

December 28th, 2023|

The holiday season is wonderful for so many reasons - special time with family and loved ones, cheerful festivities, gift [...]

  • small business ein number needs

Does my business need an EIN?

November 22nd, 2023|

With a new year comes new goals, and for some that might mean starting a new business venture. Starting a [...]

  • tax documents safe

How to Safeguard Your Tax Documents

October 18th, 2023|

In today’s digital world, many people engage with tax documents through electronic communications like bank statements, accounting software, and more. [...]

  • swimming pool tax deduction

Can I deduct my swimming pool?

September 27th, 2023|

There’s a lot of outlandish tax advice circulating on the internet. However, there is one incredulous-sounding claim that is actually [...]

Staying Safe from A.I. Tax Scams

June 14th, 2023|

If news about A.I. has been all over your LinkedIn timeline lately, you aren't alone. With its new accessibility through [...]

  • holiday gift giving taxes

Tax Deductions for the Holidays

November 7th, 2022|

The holidays are quickly approaching, with Thanksgiving just around the corner. Your company may want to spread some holiday cheer [...]

  • gambling taxes

Are gambling winnings taxable?

September 8th, 2022|

We get this question a lot. Unfortunately, you will not be so lucky when it comes to taxes. Gambling winnings [...]

Tax strategies in a down market

June 9th, 2022|

Let’s face it… the financial markets have been ugly lately. Nobody likes to see their account balances down, but there [...]

  • Boat Deduction

Can I deduct my boat?

May 10th, 2022|

Boating season is here and a question we get all the time is “can I deduct my boat? You might [...]

Is it really the IRS?

January 12th, 2022|

Scam artists often pretend to be the IRS. The scammers impersonate the IRS to either intimidate someone into sending them [...]

The new 100% deductible meals expense

May 26th, 2021|

Included within the Consolidated Appropriations Act, 2021, (CAA) was one important change, the temporary 100% meal deduction. Starting on January [...]

Can I discard old tax records?

January 29th, 2021|

We get this question all the time at ClarkSilva, and for good reason. It’s tempting to toss old tax returns [...]

Changes to 1099 Forms for 2020

December 21st, 2020|

Many small businesses and self-employed individuals are familiar with Form 1099-MISC. Starting in 2020, the Internal Revenue Service has split [...]