If you receive a bonus it is usually a cause for celebration, at least in the short term. Whether you receive a bonus on a contractual basis, as a performance award, or for an end-of-the-year perk, it is important to…
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…
As the end of the year approaches, it’s key to make sure that you are keeping your records up to date in regard to all income and taxable revenue you are generating from any source. This includes hobby businesses. Many…
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…
If your freelance business is on a significant growth trajectory, congratulations! All of your hard work is paying off, and you may be considering switching your entity type from a sole proprietorship or limited liability company (LLC) to an S-corporation…
Missing documents? Mega-busy calendar? If you’re like many freelancers you have more than enough on your plate to keep you busy all day every day, without the added burden of tax preparation. However, the IRS doesn’t take kindly to missed…
What better way to fund your next big freelance endeavor than through crowdfunding? All it takes is a little effort on your part and you can rake in some cash “gifts” and “goodwill contributions” to help you move your vision…
The Employer Retention Credit (ERC) was first introduced in 2020 as part of the U.S. government’s relief for small businesses who were adversely affected by the pandemic and was also made available in 2021 to employers who kept employees on…
Although it is almost the midpoint of the tax filing season for 2021 returns, the IRS is lagging seriously behind on processing 2020 returns, to the point that the delay in processing returns from prior years and issuing refunds is…
The gig economy is gearing up and if you have been a freelancer for any length of time, you are helping to drive it forward. Congratulations on your success! However, it is critical not to lose sight of the tax…
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Please be aware that we are no longer accepting new clients until after 4/15/2025 in order to serve our existing clients during tax season.