CPA for Freelancers

Taxes, Accounting, & Business Advice for the Self-Employed

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Freelancers Beware! The IRS is Targeting Taxpayers Dealing in Cryptocurrency

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 obligations to more than 10,000 cryptocurrency holders. It is likely […]

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Freelancers Selling in New York State Have New Sales Tax Collection Requirements

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 (NYS): the state recently enacted legislation to force marketplace providers […]

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Freelancers, Your State May Still Charge You for Not Having Health Insurance

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 afford health insurance but chose not to buy it. Starting […]

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Taking on International Freelance Work? Learn the Language of Foreign Taxes

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 language of foreign taxes and how it applies to your […]

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Selling Your Home This Spring? It Could Reduce Your Freelance Taxes

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 are likely to get. June 28 is the best single […]

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Small Business Week Reminder: Check Your Estimated Tax Payments

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 you’re not, with this week being Small Business Week, it’s […]

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Buying an Electric Car? It May Benefit Your Freelance Taxes

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 for the plug-in electric drive motor vehicle credit during the […]

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Tax Exemptions, Deductions and Credits—Last Minute Advice for Your Freelance Tax Return

With just a few weeks left to file your freelance taxes, there’s no time to waste when it comes to completing your return. Given all of the changes that the Tax Cuts and Jobs Act (a.k.a. tax reform) has brought with it, you may be left feeling unsure about how tax deductions and tax credits […]

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Breaking Freelance Tax News! The IRS Lowers Safe Harbor Threshold for 2018 Taxes

If you were paying attention to your tax situation in January of this year, you may have heard that the IRS is offering a reprieve to some taxpayers when it comes to penalties for the late payment of estimated taxes. Now, less than month before the tax deadline the IRS has announced that it is […]

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Have a Freelance Tax SOS? Check Out These Tax Reform FAQs

Now that the Tax Cuts and Jobs Act (TCJA) is active legislation, you are likely to see its impact on your tax return this year. As you get ready to file your taxes you are likely to have questions about exactly how tax reform affects your freelance business. To help, we’ve compiled this list of […]

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