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…
Now that tax season is here, it’s time to take a serious look at steps you can take to trim your freelance tax bill–while still being cognizant of the fact that some tax credits and deductions are being reduced. Let’s…
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…
What is cryptocurrency and how does it impact your taxes? As more people are investing in cryptocurrency, how complex can this get if they do their own taxes? What are some factors they need to keep in mind? While…
What are a few items people tend to miss when they do their taxes, whether filling out their tax form themselves or using a tax software? Medical expenses (if they are significant). The IRS allows you to deduct unreimbursed…
If you have significant tax debt, cleaning it up may be the ultimate holiday gift that you can give to yourself as a freelance business owner. Not only will it put you more in control of your finances, it will…
Have you been hemming and hawing on whether or not to hire a professional to do your taxes? Has there been a large change in your life that has impacted your finances or maybe you just aren’t sure what you…
Are you thinking of moving or doing business in another state? Read through to get some quick answers to your tax questions. What tax implications should someone consider if they are moving from one state to another? What records would…
On September 17, 2021, New York State (NYS) extended the State Disaster Emergency declaration related to Hurricane Ida (now categorized as a post-tropical depression). As a result of this declaration, NYS has postponed certain tax filing deadlines, including the extension…
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