The IRS considers an independent contractor as a self-employed or an entity hired to provide a service or work for another entity as a non-employee. Due to that, independent contractors...
When you run two businesses with the sole proprietorship tax status, the IRS requires you to report each corporation's income and expenses separately. This means that your personal...
Posted by Pat Raskob on 10/07/2022
For a small business owner, tax season can be stressful, and the prospect of paying a large sum of money to the government is not really a pleasant one. That's why small business...
Posted by Pat Raskob on 09/30/2022
Unemployment taxes are part of business life. Companies should not only pay taxes; they should pay attention to the claims too. And if you're not careful when filing or responding...
Posted by Taxes Made EZ Inc on 09/21/2022
How the Internal Revenue Service defines and calculates different types of income affects the taxes you owe. Modified adjusted gross income (MAGI) is one of them. MAGI also decides...
Posted by Pat Raskob on 08/11/2022
You have to wear many different hats when working alone. Yes, it can be great when you wear the HR hat because you don't have to keep track of vacations. But when you put on your...
Posted by Taxes Made EZ Inc on 07/31/2022
It's the hottest time of the year, and we can't wait for the holidays to arrive! While tax season is only in the rearview mirror, summer is crucial for making informed tax...
Posted by Pat Raskob on 07/18/2022
A spouse usually signs joint tax returns with the knowledge to face the due tax, penalties, and interest accompanying the tax return. According to the IRS (Internal Revenue Service),...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/31/2022
If you're self-employed, such as an independent contractor, or a freelancer, one question is probably the most important question regarding tax returns: How can I reduce my self-employment...
Posted by Taxes Made EZ Inc on 04/17/2022