As we dive into 2025, tax season is officially here! At Hogberg Tax, we’re dedicated to more than just tax preparation—we’re here to help you strategize for the entire year ahead. Filing your 2024 return is a critical step, but it’s also the perfect time to establish...
Michael Hogberg, EA
Avoiding Tax Trouble: Simple Expense Documents Lead to Tax Court
US Tax Court Docket No. 6481-23S. Tax compliance can be a tricky landscape to navigate. A recent tax court ruling highlights how even well-meaning taxpayers can face significant challenges due to documentation errors and misunderstanding tax laws. To help you stay...
Report Your Income: A Simple Reminder to Avoid Costly Mistakes
Report Your Income: A Simple Reminder to Avoid Costly Mistakes Tax compliance is straightforward in principle: report all your income and follow the rules. A recent Tax Court ruling (Docket No. 27575-22.) serves as a reminder that attempting to sidestep this...
It’s Tax Season: Let Us Help You Navigate with Confidence and Compliance
As we usher in another year, tax season is upon us. At Hogberg Tax, we recognize that tax preparation is more than just filing forms—it's an opportunity to align your financial strategies with your long-term goals. Our advisory-first approach focuses on compliance,...
Tax Crimes in Focus: Employment Tax Fraud Cases and How to Protect Your Business
At Hogberg Tax, we aim to keep clients informed about the consequences of tax mismanagement and the proactive steps to ensure compliance, build confidence, and avoid future pitfalls. Recent high-profile cases of employment tax fraud highlight the severe penalties...
Understanding the IRS John Doe Summons and Ensuring Tax Compliance
Recent developments underscore the growing emphasis on tax compliance, particularly for those earning income through non-traditional means. A federal court has authorized the IRS to issue a "John Doe summons" to JustAnswer LLC, a digital platform connecting...
How Mishandling a Small Tax Bill Can Lead to Big Problems: Lessons from a Tax Court Case
A recent Tax Court case highlights how even a modest tax issue can escalate into a complex and unnecessary legal dispute if not handled properly. In this case, a taxpayer ("Ms. P." for privacy) ended up in Tax Court over a 2015 federal income tax deficiency of just...
Happy New Year
As the year draws to a close, we want to take a moment to wish you and your loved ones a happy, healthy, and prosperous New Year! This is a time to reflect on the accomplishments of the past year and to set goals for the year ahead, and we hope your 2025 is filled...
Why Year-End Tax Deduction Spending Isn’t Always Smart: Real Advice for Business Owners
Let’s set the record straight: spending a dollar to save on taxes is not the same as keeping a dollar in your pocket. At Hogberg Tax, we believe in helping business owners implement real strategies that create value—not chasing ineffective schemes. The Truth About Tax...
Is Electing S Corporation Status Right for Your Small Business?
Electing S Corporation (S Corp) status can be an excellent tax strategy for many small, solo-owner businesses, but it isn’t a one-size-fits-all solution. While the potential tax savings are appealing, S Corp status introduces additional responsibilities and...