It’s no secret that the freelance and gig economy is growing, which means more self-employed people who must pay taxes. This fact hasn’t gone unnoticed by the Internal Revenue Service (IRS) which, of course, has a special interest in ensuring that self-employed individuals pay all...
If you are a freelancer who travels for work or who hires subcontractors to travel on your behalf, then you are likely already aware how time-consuming keeping track of travel expenses for tax purposes can be. Getting a handle on your freelance travel expenses doesn’t...
A recent ruling by the California Supreme Court made it more difficult for employers to classify their workers as independent contractors in response to criticism by some that companies are not properly classifying independent contractors as employees. This law seeks to tighten the rules regarding...
If you are like many of the freelancers who are involved with cryptocurrency, you may be unaware of the tax rules related to it. This is evidenced by last Friday’s news that the Internal Revenue Service (IRS) is sending “educational letters” about tax penalties and...
If you are a freelancer who sells taxable goods online, you are likely aware of the challenges of collecting and remitting sales tax in multiple jurisdictions. A case in point that you should pay attention to if your business includes sales in New York State...
From a federal perspective, tax year 2018 was the last year that the Affordable Care Act’s individual Shared Responsibility Payment applied when you filed your return. This fee, otherwise known as the individual mandate, was collected for plan years through 2018 from taxpayers who could...
If you’re a freelancer who works outside the United States there are some important rules you need to know when it comes to keeping on the right side of taxing authorities around the globe and managing your own tax burden. To help you learn the...
Spring is often when the housing market heats up with home sales generally peaking in May and June. According to an ATTOM Data Solutions report, in the United States, May is the best month to sell your home based on the higher price premium you...
Yes, we are fresh off tax season, which means most small business owners have just calculated—with help from the IRS—whether they paid enough tax for 2018. If you are self-employed you should be familiar with making estimated state and federal tax payments each quarter. If...
According to The Edison Electric Institute, there are now more than one million electric vehicles (EVs) on U.S. roads. Another sign of the growing popularity of EVs? The IRS recently announced that General Motors, LLC (GM) has sold more than 200,000 vehicles which are eligible...