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Articles by Elyssa Carlos

Tax Pros and Cons of Hiring Family in Your Business

Hiring family in your business can feel like a natural choice. Many entrepreneurs start small and lean on spouses, children, or parents to help keep things running. For some, it’s about trust and loyalty, knowing you can count on a family member to care about the business as much as you do. For others, it’s […]

2025 IRS Tax Brackets and Standard Deductions 

With 2025 on the horizon, taxpayers are beginning to plan for how they will file their returns. The IRS updates tax brackets and standard deductions annually to account for inflation and legislative changes. This will affect how much individuals and families owe. Let’s examine the newly announced 2025 tax brackets and standard deductions, as well […]

How to File Taxes If Your Spouse or Dependent is Incarcerated

Filing taxes can be a complex process, and it becomes even more challenging when your spouse or dependent is incarcerated. In such situations, various considerations and adjustments must be made to ensure accurate and lawful tax filings. This article will guide you through the process, providing valuable information and tips on how to file taxes […]

Should I File as an S Corp? Pros, Cons, and Tax Considerations  

Deciding whether to file as an S corporation (S corp) can be a major choice for small business owners, freelancers, and entrepreneurs. The decision often comes down to weighing potential tax savings against the added complexity of compliance. While S corp status can help reduce self-employment taxes and boost your credibility, it also comes with […]

What You Need to Know About IRS Bank Levies 

When dealing with unpaid taxes, one of the most significant and immediate consequences can be an IRS bank levy. This powerful enforcement action allows the IRS to legally seize funds directly from your bank account to satisfy outstanding tax debts. Understanding how an IRS bank levy works, the accounts it can affect, your rights, and […]