Given the focus in May on National Small Business Week, (May 1 to 7) and the end of the tax filing season, if you find yourself transitioning from regular wage-earning employment income (reported on a W-2) to self-employment (tracked by…
Being your own boss seems nice at first, but if you don’t watch out, come tax time, there can be some nasty surprises in store for you. Sticking your head in the sand won’t make it go away and, year…
If you are an individual freelancer, sole proprietor, or business owner operating under another entity type in New York and New Jersey you may have until January 3, 2022, to file individual and business tax returns and make estimated tax…
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…
If you have ever been employed, you are likely familiar with the W-2 tax form (a.k.a. the IRS “Wage and Tax Statement”). An employer must send a copy of this form to their employee and one to the IRS to…
Savvy freelancers know that proper tax planning can provide significant financial benefits that contribute to business growth. In this spirit, take note of these answers to frequently asked tax questions which can help to position your business for success: 1.…
If you filed your taxes on time this year, you may be breathing a sigh of relief about not having to think about them again until next April. Before you wipe any traces of tax-induced sweat off your brow completely…
Tax season is here and you may be stressing a little, especially if you haven’t been making regular estimated tax payments on your business profits. If this is the case for you, it’s time to take action this tax year…
Paying taxes at the start of the new year – sounds crazy right? This is the ugly truth for freelancers, Airbnb hosts, rideshare drivers, or anyone else earning 1099 income. If you earn self-employment income, you’re expected to stroke Uncle…
Get Professional Self-Employment Tax Advice