by Michael Hogberg, EA | Dec 24, 2024 | Updates
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...
by Michael Hogberg, EA | Dec 22, 2024 | Updates
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...
by Michael Hogberg, EA | Dec 11, 2024 | Updates
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...
by Michael Hogberg, EA | Dec 3, 2024 | Updates
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...
by Michael Hogberg, EA | Nov 20, 2024 | Updates
Tax compliance is more than just a routine obligation—it’s a safeguard against mistakes that could upend your life and business. Yet, every year, stories emerge of business owners and individuals who take shortcuts, trust the wrong advisors, or engage in outright...
by Michael Hogberg, EA | Nov 12, 2024 | Updates
Takeaway: Getting a clear view of your tax position before the year ends provides clarity, reduces stress, and positions your business for continued success. With the guidance of a dedicated tax advisor, you can turn tax season into a strategic opportunity rather than...