Did you run short of time last April when the regular tax filing deadline came? Hopefully, it was a rare occurrence and you took the smart step of filing an extension for your 2021 taxes. If so, the six-month window to get your taxes filed without additional failure to file and late payment penalties is […]

We are living in a world where things seem to be changing every day and it can be easy to be confused as to what you should or shouldn't do. Don't make tax season a headache and know if your deadlines, or income threshold for marginal tax rates has changed. Tax Due Dates for 2022 […]

Do you use apps like PayPal, Venmo, or Square to accept freelance business payments? If so, you’ll need to pay close attention to the new tax reporting changes affecting these platforms that go into effect this month, especially if you do a significant amount of business through them.  In an effort to reduce the amount […]

What is cryptocurrency and how does it impact your taxes?   As more people are investing in cryptocurrency, how complex can this get if they do their own taxes? What are some factors they need to keep in mind? While cryptocurrency (crypto) investors were expected to meet the same reporting standards when it came to […]

What are a few items people tend to miss when they do their taxes, whether filling out their tax form themselves or using a tax software?   Medical expenses (if they are significant). The IRS allows you to deduct unreimbursed expenses for preventative care, treatment, surgeries, and dental and vision care as qualifying medical expenses. […]

If you have significant tax debt, cleaning it up may be the ultimate holiday gift that you can give to yourself as a freelance business owner. Not only will it put you more in control of your finances, it will also free you from paying burdensome interest, penalties, and fines related to back taxes. One […]

Have you been hemming and hawing on whether or not to hire a professional to do your taxes? Has there been a large change in your life that has impacted your finances or maybe you just aren't sure what you are doing? Read through some commonly asked questions and changes and then make your decision. […]

Are you thinking of moving or doing business in another state? Read through to get some quick answers to your tax questions. What tax implications should someone consider if they are moving from one state to another? What records would they need to show, if any? From a business perspective for self-employed individuals, if you […]

If your freelance business reimburses contractors for meals consumed while traveling, you can now deduct the per diem portion of meal expenses at 100% according to new guidance from the IRS which covers tax years 2021 and 2022. If you are planning to take a client out for a holiday meal, remember that as part […]

It’s a great feeling to be able to help others—and it’s even better if you get some added benefit, too. This is the kind of win-win situation that The Taxpayer Certainty and Disaster Tax Relief Act of 2020 made possible by allowing tax payers to deduct up to $600 of charitable contribution regardless of whether […]