tax planning

If you were able to get a loan under the Payroll Protection Program (PPP) recently, you should be aware of some important follow-up guidance recently released by the IRS which may impact your taxes. PPP loan forgiveness, self-employment income and your taxes Based on the new PPP...

Under the recently passed CARES Act, the U.S. government is planning to send out Economic Impact Payments (EIP) to taxpayers meeting certain income requirements. Please note: the IRS is currently working on a website with a portal for individuals to provide their banking information to...

If you are considering dropping your health insurance, given that the current tax penalty for not having coverage will be lifted starting in 2019, you are not alone. According to recent research, the elimination of Obamacare penalties may reduce the number of subscribers to individual...

If you are keeping track of the rules related to the Tax Cuts and Jobs Act (TCJA) that are likely to impact you as a freelancer, you’ll want to take note of this one in regard to meal deductions. At the beginning of the year,...

Now that we are getting down to the wire for filing individual taxes and those for freelance businesses structured as LLCs and corporations, it’s key to know the answers to these freelance tax FAQs so you can tackle your taxes in a timely manner. The...

The end of the year is the perfect time to make a change to your business structure because doing so can afford you additional tax advantages in the coming year. While there are several business entity structures you can use for a freelance business, the...

If you went to college and you were lucky enough to have a family member help you out with the costs, you may be familiar with what a 529 plan is: a savings vehicle specifically designed for those who need to put money aside to...