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Taxes Are Due May 17 - Here’s What To Do If You Can’t Pay Your Tax Bill

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, it’s doubtful that you are feeling more confident about it now. With that said, if […]

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The May 15 Deadline is Almost Here! Freelance Tax Deduction Checklist

The May 15 tax deadline is only a few days away, so there’s no time to waste if you haven’t already filed your taxes. To help you maximize your freelance tax deductions and reduce your 2020 tax bill, here’s a handy checklist. You can also access a full summary in this PDF from CPA for […]

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Freelancers Now Have Until May 17 to Top Up Their 2020 Retirement and HSA Contributions

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 now due). This means that freelancers have more time to make contributions to their individual […]

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Already Filed Your Freelance Taxes? Here’s When to File an Amended Return

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 extend the deadline in keeping with the IRS decision to do so—be sure to check […]

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The IRS Just Extended the Deadline to May 17—Here’s What You Need to Know

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 the same thing, but the deadline was pushed out to until mid-July. Here are the […]

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Breaking Freelance Tax News! The IRS Lowers Safe Harbor Threshold for 2018 Taxes

If you were paying attention to your tax situation in January of this year, you may have heard that the IRS is offering a reprieve to some taxpayers when it comes to penalties for the late payment of estimated taxes. Now, less than month before the tax deadline the IRS has announced that it is […]

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The Final Countdown – Tax Deadlines You Need to Know Now

“The Final Countdown” to Tax Day is on, and with just over a month left to go until that most notorious day of the year—Tax Day—it’s time to get serious about what you need to do to meet your obligations as a taxpayer and freelance business owner. The good news is, there’s only one date […]

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New Identification Requirement for New York State Taxpayers Aims to Fight Fraud

New York State (NYS) is now making the collection of taxpayers’ driver licenses or other state-issued identification (ID) information on electronically filed personal income tax returns mandatory to help deter fraud, following the same practice by the IRS. The fields where the ID information must be input appear in the Authentication Header section of the […]

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'Tis the Season for the CPA for Freelancers® Tax Checklist

‘Tis the season. Yes - for shopping, eggnog and overindulgence at the buffet table. But for freelancers, it’s also the season to take stock of what your income and expenses were in 2015, to get your financial house in order and to determine what you will owe in taxes come next April. Plus, it's a […]

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