Owais Shamsi

How to Plan Around the Alternative Minimum Tax (AMT)

Tax Advisory & PlanningAugust 4, 2026433Views 33Likes 0Comments

The AMT Ambush The Alternative Minimum Tax, or AMT, is a second tax calculation that can quietly increase what you owe. It removes or limits certain deductions and adds special income items back into the calculation. High-income households can face a major surprise even when their regular tax planning looks solid. Do not assume your…

What Is Cost of Goods Sold (COGS) and How Do You Calculate It?

Small Business AccountingAugust 3, 2026446Views 33Likes 0Comments

The Margin Maker If you sell physical products, Cost of Goods Sold, or COGS, is one of the most important numbers in your books. COGS represents the direct cost of producing or buying the exact products you sold during the year. It helps show your true gross profit before regular operating expenses are considered. Get…

Tax Tips for Gig Workers: Uber, DoorDash, Airbnb, and More

UncategorizedJuly 30, 2026450Views 33Likes 0Comments

The Multi-App Trap Gig work gives you freedom. You can drive for Uber, deliver for DoorDash, rent on Airbnb, sell on Etsy, or run multiple side hustles at once. But here is the catch: most apps do not withhold taxes from your payouts. That means your gross earnings are not all spending money. If you…

Wage Garnishment by the IRS: How to Stop It Before It Starts

Tax ResolutionJuly 29, 2026429Views 33Likes 0Comments

The Paycheck Nightmare Few things feel worse than opening your paycheck and realizing a huge chunk of your income is gone. That is what can happen when unpaid tax debt gets ignored. The IRS can bypass you and send a legal garnishment order directly to your employer. Once that happens, your payroll department may be…

How to Claim the Child and Dependent Care Tax Credit

Tax PreparationJuly 28, 2026430Views 33Likes 0Comments

The Hidden Childcare Subsidy Childcare can feel like a second mortgage. Daycare, after-school care, summer programs, and babysitters add up fast. For many working parents, childcare is one of the largest monthly expenses in the household. The good news is that the IRS offers a tax break called the Child and Dependent Care Credit. This…

Hiring Your Kids in Your Business: Tax Benefits and Rules to Follow

Tax Advisory & PlanningJuly 27, 2026422Views 33Likes 0Comments

The Family Wealth Loophole Why pay your kids an allowance with after-tax money when your business may be able to hire them instead? When done correctly, wages paid to your children can become a legitimate business deduction. That means your business may reduce taxable profit while your child earns money, learns responsibility, and starts building…

Author page: Owais Shamsi

How to Plan Around the Alternative Minimum Tax (AMT)

What Is Cost of Goods Sold (COGS) and How Do You Calculate It?

Tax Tips for Gig Workers: Uber, DoorDash, Airbnb, and More

Wage Garnishment by the IRS: How to Stop It Before It Starts

How to Claim the Child and Dependent Care Tax Credit

Hiring Your Kids in Your Business: Tax Benefits and Rules to Follow

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