Filing a tax extension can provide much-needed breathing room during tax season. However, it’s essential to understand what comes next to avoid penalties and stay on track. Here’s a step-by-step guide to help you navigate the extension process. 1. Understand What an Extension Means Filing an extension (Form 4868) gives you extra time to file your tax […]
I Filed a Tax Extension– Now What? Read More »
Growing businesses and startups often reach a pivotal point where strategic financial guidance becomes crucial. Hiring a full-time Chief Financial Officer (CFO) may not be feasible, which is why a Fractional CFO could be the perfect solution. But how do you determine if you’re ready to bring one on board? Signs You Might Be Ready for a
Is My Business Ready for a Fractional CFO? Read More »
Generative AI is reshaping the tax planning and compliance process, offering unprecedented opportunities for efficiency, accuracy, and strategic decision-making. As tax professionals navigate the ever-changing regulatory landscape, integrating AI technologies into tax functions is proving to be a game-changer. Here’s how. Key Benefits of Generative AI in Tax Planning Challenges to Consider Future of AI
Generative AI in Tax Planning: What to Expect Read More »
College sports have long been a major source of revenue for universities, with programs like football and basketball generating billions of dollars annually. However, the topic of revenue sharing among college athletes is gaining momentum as the NCAA faces increasing pressure to compensate student-athletes for their contributions. Revenue sharing in college sports is a multifaceted
The Complex World of College Sports Revenue Sharing Read More »
When someone passes away, their taxes don’t disappear. Learn what tax responsibilities remain and how Anthem can help file a final tax return for a deceased loved one. Do You Have to File Taxes for Someone Who Died? Yes. According to the IRS, a final individual income tax return must be filed for anyone who
What Happens to Taxes When a Loved One Dies? Read More »
As a growing business owner, you wear a lot of hats—CEO, sales manager, logistics coordinator, maybe even HR. But one area that often gets overlooked is how global trade policy, specifically tariffs, can affect your bottom line. At Anthem, we work closely with businesses of all sizes, across industries, and many of our clients have asked:“What
When it comes to charitable contributions, noncash donations can be a great way to save on taxes—if done correctly. However, failing to comply with IRS rules can lead to costly consequences, as demonstrated in a recent Tax Court case (Cade, TC Memo. 2025-20). The Case Overview A couple filed an amended tax return (Form 1040-X)
Claiming Big Charitable Write-Offs: Why Noncash Donations Can Be Tax Traps Read More »
Real estate is a powerful tool for wealth building, but it also offers numerous opportunities to reduce your tax burden. By leveraging tax advantages available to real estate investors, you can keep more of your hard-earned money. Here’s how: 1. Take Advantage of Depreciation 2. Use the 1031 Exchange 3. Deduct Property-Related Expenses You can
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Filing a tax extension in Oregon can provide you with additional time to prepare an accurate return and avoid late-filing penalties. Here’s how businesses and individuals can file a tax extension in Oregon. 1. Do You Need to File an Oregon Extension? Key Note: An extension gives you more time to file, but not to
How Do I File a Tax Extension in Oregon? Read More »
As a business owner, managing your books is crucial for financial success, but it can also be time-consuming and complex. Many entrepreneurs start with DIY bookkeeping or hire a separate bookkeeper, but this often leads to inefficiencies and tax complications. Moving your bookkeeping to your tax professional is one of the smartest financial decisions you
Why You Should Move Your Bookkeeping to Anthem Read More »
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