Filing taxes for the wages you earned is relatively straightforward. However, if you’re an independent contractor or own your own business, things can get a bit trickier. If you’re feeling a bit daunted by the prospect of filing self-employment taxes, here are a few things...
One of the major tax law changes brought on by the Tax Cuts and Jobs Act was nearly doubling the standard deduction to $12,000 for individuals and $24,000 for married couples filing jointly. The law also placed a cap on many common deductions that taxpayers...
If you’re starting a new business, one of the first things you must do is to select a business structure. For those making their first foray into entrepreneurship, it’s important that you take the time to consider all of the ways in which the various...
Most people don’t spend much time thinking about their taxes until January hits. But planning ahead and preparing well in advance of the tax year’s end can have enormous benefits for you. Not only will you likely find filing to be a lot simpler and...
Being selected for an IRS audit is a thought terrifying enough to make some people break out into a cold sweat. But it may not be as bad as you believe. Of course, nobody wants to be audited, but in most cases, the process is...
There are a lot of reasons for not filing your return on time. Whether you simply didn’t have all your documents ready, were worried about paying what you owed, or simply let the deadline pass you by, it’s important that you get your 2018 return...
So you filed your return a few months ago, and you probably haven’t given it much thought since then. But did you know that having your tax return reviewed by a professional CPA can offer you several benefits? Whether you filed your return yourself or...
For the majority of people, determining what state your legal domicile is in is really quite simple; it’s the one home that you own or rent, and your only residence. Because this is so straightforward for most people, very few individuals put much thought into...
When you move to a new home, it seems as if there are countless entities that you need to inform of your new address. Amid that long list, it can be easy to forget about updating the IRS regarding your relocation. Even if the thought...
When it comes to your 2018 taxes, most things can’t be changed. Most numbers pertaining to your tax return are already set in stone, and the majority of things you can do to reduce your tax liability expired when the ball dropped on New Year’s...
