If you are one of the lucky business owners whose business is flourishing, you may be wondering how to keep as much of your earnings as possible as tax season nears. While you definitely need to pay the tax due…
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…
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…
Given that the new infrastructure bill mainly allocates funding for public works projects, you may not be aware that the bill also puts in place new reporting requirements for individuals trading and using cryptocurrency which begin January 1, 2023. While…
The Infrastructure Investment and Jobs Act is heading to President Biden’s desk to be signed and when it is, it may mean that the Employee Retention Credit will be terminated earlier than the original guidance issued by the IRS. This…
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…
You’ve had just over a month longer than usual to file your freelance taxes due to the IRS extension of the annual tax deadline to May 17. However, if you were stressing about paying your tax bill back in April,…
The IRS recently announced that it is extending the deadline for taxpayers to contribute to their eligible retirement accounts and health savings accounts for the 2020 tax year until May 17, 2021 (the same day that individual tax filings are…
The big news on the tax front from last week was that the individual tax deadlines for federal and some state income taxes were extended to May 17, 2021. New York State is one of the states which chose to…
The IRS announced yesterday that the deadline for individual taxes is now extended to May 17—giving you an extra month to file your return. If you are experiencing a bit of déjà vu, that’s likely because last year they did…
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