CPA for Freelancers

Taxes, Accounting, & Business Advice for the Self-Employed

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Hot Topic: Can Freelancers Get the Employee Retention Tax Credit?

When the COVID-19 pandemic started hitting Americans hard in spring 2020, and many businesses were required to close locations, some were hit harder than others. Restaurants, bars and entertainment venues were impacted most seriously of all, because aside from delivery services, they couldn’t work remotely as could professional services businesses. Congress enacted the Coronavirus Aid, […]

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Looking Ahead: How the American Rescue Plan Affects 2021 Taxes

This is the second of two tax tips providing an overview of ways the American Rescue Plan may affect some people’s 2021 taxes. You can read part one here. Changes expanding EITC for 2021 and beyond New law changes expand the EITC for 2021 and future years. These changes include: More workers and working families […]

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Child & Dependent Care Changes That May Affect Your 2021 Tax Refund

The American Rescue Plan has introduced changes to these key 2021 tax credits related to child and dependent care which can be a valuable way to lower your tax obligations. Child & Dependent Care Credit Increased for 2021 Only In 2021 the amount of the child credit and eligible expenses for child and dependent care […]

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Buying an Electric Car? It May Benefit Your Freelance Taxes

According to The Edison Electric Institute, there are now more than one million electric vehicles (EVs) on U.S. roads. Another sign of the growing popularity of EVs? The IRS recently announced that General Motors, LLC (GM) has sold more than 200,000 vehicles which are eligible for the plug-in electric drive motor vehicle credit during the […]

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Tax Exemptions, Deductions and Credits—Last Minute Advice for Your Freelance Tax Return

With just a few weeks left to file your freelance taxes, there’s no time to waste when it comes to completing your return. Given all of the changes that the Tax Cuts and Jobs Act (a.k.a. tax reform) has brought with it, you may be left feeling unsure about how tax deductions and tax credits […]

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The Top Tax Tips Every Software Developer and IT Professional Should Know

If you’re an independent software developer or a self-employed IT professional, having knowledge of key tax issues relevant to your business is critical to your success. Take note of the following tax tips to stay in compliance from our nyc cpa, mitigate unnecessary tax burdens and avoid tax penalties. Evolve your entity structure with your […]

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