Decoding Common and Complex Tax Acronyms: A Comprehensive Guide Navigating the labyrinth of tax terminology can be daunting. From AGI to OIC, the U.S. tax code is replete with tax acronyms that can perplex even seasoned taxpayers. At Spyglass Accounting and Financial Services, we aim to demystify these terms, empowering you to make informed financial […]
Do Creators Pay Taxes on Money Earned? A Complete Guide to Creator Taxes Introduction: The Rise of the Creator Economy From Instagram influencers and TikTok dancers to YouTube vloggers, OnlyFans models, and Twitch streamers, the Creator Economy has exploded in recent years. What was once a passion project or hobby during pandemic lockdowns is now […]
Do I Have to Pay Taxes on Sports Betting Winnings? Whether you’re an occasional sports bettor dabbling during March Madness or a die-hard fan placing regular bets on NFL games, one question is critical when tax season rolls around: Do I have to pay taxes on my sports betting winnings? The short answer? Yes. All […]
The Complete Guide to Gift Taxes, Lump Sum Payouts, and Hush Money: What the IRS Expects Introduction: When “Free Money” Isn’t Really Free Imagine receiving a $5 million payout—only to discover the IRS takes nearly half. This scenario isn’t just TV drama (looking at you, White Lotus). In real life, gift taxes, settlements, and confidential payouts can trigger surprising […]
The Small Business Owner’s Guide to Financial Risk Assessment Matrices Introduction: Why Risk Management is Non-Negotiable for Small Businesses Did you know that 60% of small businesses fail within their first five years, often due to unmanaged financial risk assessment? From cash flow shortages to fraud and regulatory fines, financial threats can derail even the most […]
The Complete Guide to the Accounting Cycle: 8 Steps From Transactions to Financial Reports Introduction: Why Understanding the Accounting Cycle Matters Every business—whether a small startup or a multinational corporation—relies on accurate financial records to make informed decisions, comply with tax laws, and attract investors. At the heart of this financial tracking is the accounting […]
The Complete Guide to 2025 US Tax Deadlines for Expats: Avoid Penalties & Maximize Savings Introduction: Why Expats Must Stay Ahead of 2025 Tax Deadlines As an American living abroad, tax season can feel overwhelming—especially when juggling international banking, foreign income, and IRS compliance. The 2025 US tax deadlines for expats comes with unique extensions, reporting requirements, […]
IRS Nationwide Tax Forum 2025 Early Bird Deadline June 10 – What You Need to Know Tax professionals, mark your calendars! The IRS Nationwide Tax Forum 2025 is fast approaching, and the early bird registration deadline is June 10, 2025. If you’re an enrolled agent (EA), CPA, AFSP participant, or tax preparer, this is your chance to earn up to […]
Financial Management Tips for Healthcare Practices: A Comprehensive Guide Running a successful healthcare practice requires more than just excellent patient care—it demands strategic financial management. From optimizing cash flow to ensuring tax compliance, healthcare providers must navigate complex financial challenges to maintain profitability and sustainability. In this comprehensive guide, we’ll explore the best financial management practices for healthcare practices, […]
How to Improve Cash Flow in 30 Days: A Step-by-Step Guide for Small Businesses Cash flow problems sink more businesses than lack of profit. In fact, 82% of small businesses fail due to poor cash flow management (Visual Capitalist). The good news? You can turn things around fast—in just 30 days—with the right strategies. At Spyglass Accounting & […]
