The IRS recently announced its 10-year strategic operating plan, which lays out how the agency will deliver tax services in the next decade and how it will allocate the $80 billion funds it received as part of the Inflation Reduction…
If you are a freelancer who has received restricted stock units (RSUs) as part of your compensation, you need to ensure that you are withholding taxes appropriately, or else you could end up owing money to the IRS at the…
What do driving for a ride-sharing company, renting out a room through a rental service and working for a company that outsources errands and tasks have in common? These are all income-generating activities in the gig economy on which income…
Not sure you can pay your freelance tax bill or file this year’s tax return on time? Like any taxpayer who doesn’t meet their tax obligations, you may owe a penalty. You may also owe multiple penalties, depending on your…
The new season of cars are starting to roll onto dealership lots, and if a new car is in your future this year you may want to consider buying a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV)…
Did you file a 2019 or 2020 tax return during the pandemic? If so, it’s possible that if you filed in the postponed periods between April 16, 2020, and July 15, 2020, or April 16, 2021, and May 17, 2021…
As a business owner, you need to be aware of The American Disability Act and its requirements specific to your operations. One important requirement is making your website accessible to all potential visitors. To be in compliance with these regulations…
Self-Employed Tax Deductions 101: How to Claim the Home Office Deduction Are you self-employed? If so you and you use a portion of your home regularly and exclusively for business purposes, you may be eligible to claim a home office…
Here’s How to Report Cryptocurrency on Your 2022 Freelance Tax Return Now that it’s time to file your freelance taxes, you may have questions about how to report your cryptocurrency (now referred to as “digital assets” instead of virtual currencies…
The IRS has just announced a delay in the income reporting thresholds for third-party settlement organizations (TPSOs) such as PayPal, Venmo, and CashApp . This is a key change which may impact your 2022 tax filing. Until now, the IRS…
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