Have you filed your freelance taxes yet? If not, it’s definitely time to gather your tax documentation, maximize deductions, and use these tips to avoid costly mistakes before the April 15 deadline. While there’s plenty of questionable tax advice out…
The Corporate Transparency Act (CTA), which went into effect on January 1, 2024, has significant implications for freelancers and all business owners. This new regulation requires most businesses to report information about their owners to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) using a Beneficial Owners Information report (BOI). This is completely separate from any…
A 529 plan is one of the most popular savings plans for education savings for good reason: it can provide tax-free investment growth and withdrawals for qualified education expenses.However, there are some other important uses and caveats that you may…
If you own a freelance business that was formed in New York State, you are now officially required to report information about your business ownership and more at both the state and the federal level. This is because as of…
If your freelance business has foreign ownership and an individual who is a foreign national as part of its ownership, starting January 1, 2024 the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is requiring that such businesses be registered with…
Did you file a 2019 or 2020 tax return during the pandemic? If so, it’s possible that if you filed in the postponed periods between April 16, 2020, and July 15, 2020, or April 16, 2021, and May 17, 2021…
As a business owner, you need to be aware of The American Disability Act and its requirements specific to your operations. One important requirement is making your website accessible to all potential visitors. To be in compliance with these regulations…
Are You Eligible for the Earned Income Tax Credit (EITC)? Learn if you qualify and about special provisions for New York City residents. The Earned Income Tax Credit (EITC) is a federal tax credit designed to help low and moderate-income…
Self-Employed Tax Deductions 101: How to Claim the Home Office Deduction Are you self-employed? If so you and you use a portion of your home regularly and exclusively for business purposes, you may be eligible to claim a home office…
Here’s How to Report Cryptocurrency on Your 2022 Freelance Tax Return Now that it’s time to file your freelance taxes, you may have questions about how to report your cryptocurrency (now referred to as “digital assets” instead of virtual currencies…
Get Professional Self-Employment Tax Advice