Estimated tax is the method some employers use to pay income taxes. When paying income taxes, there are two methods allowed by the IRS; the withholding method or, you guessed it, the...
In December 2017, major tax reform was launched, which concerns individuals and businesses. It is commonly known as the Tax Reduction and Employment Act, TCJA, or Tax Reform. Most...
One of the complicated parts of managing your business is knowing and satisfying your tax responsibilities. Unlike personal income tax returns, which are usually completed with certain...
Posted by David Macgregor on 06/15/2020
If you are a business owner or earn money as a freelancer, you must pay estimated quarterly tax payments to avoid fines and interest. Here's how.In this article, we will explain: ...
There are critical tax favorable circumstances for Independent Contractors (IC) versus workers. ICs deduct costs of doing business, though, the new tax law (TCJA) suspended "unreimbursed...
What is an Independent Contractor?Independent contractor or a freelancer is a person or entity contracted to perform work or provide services to another entity, but not as an employee....
Posted by Duce Taxes & Accounting on 11/14/2018
Just like a freelancer or a small business owner, you will see that by mastering the quarterly taxes is major key part of the running of a successful organization. In case you have...
Posted by J.R.'S TAX SERVICE on 07/16/2018
When it comes to caring for routine tasks around the home, many individuals use hired help. Depending on how they hire that help, they may suddenly have a household employee. For many...
For a number of individual taxpayers who find they owe the IRS, the tax bill might be more than they can afford to pay by the annual tax deadline. Even if you cannot afford your tax...