taxes

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...

If you have been keeping tabs on the changes you might see on this year’s tax return, the 20 percent deduction for pass-through businesses probably caught your attention. Now that it’s time to file your business taxes, it’s worth knowing how to maximize this deduction...

On June 21, 2018, the United States Supreme Court ruling in South Dakota v. Wayfair (138 S.Ct. 2080 [2018]) eliminated the prohibition on a state imposing sales tax collection responsibilities on businesses that have no physical presence in that state. Due to this ruling, certain...

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 report wages paid and the...

Many freelancers own residential or commercial rental real estate properties, the income from which helps to supplement their client work. If you are one of them, this article is a must-read because the rules related to rental property income are changing under tax reform (also...

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,...

The Tax Cuts and Jobs Act (otherwise known as tax reform) has brought with it many changes for freelance taxpayers, three of the key ones are highlighted below—with some helpful hints to mitigate your tax burden. The “backdoor” Roth IRA is still available. The “backdoor” Roth...