The home office deduction is one of the most popular tax deductions for those who work from home. Once you understand how to record, calculate, and report home office expenses, you...
Posted by Taxes Made EZ Inc on 12/18/2022
GILTI stands for Global intangible low-tax income, which is income earned from other countries by U.S-controlled foreign corporations (CFCs), and it undergoes peripheral treatment...
Posted by Rosovich & Associates, Inc. on 11/10/2022
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...
It is no secret that the modern economy has changed the employment relationship between workers and companies. Many companies have responded to cost pressures by changing how they...
Posted by Taxes Made EZ Inc on 09/10/2022
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
The IRS requires 1099 forms to obtain information on various nonemployee transactions, including payments to freelancers and legal services. Sounds simple, doesn't it? Keep track...
It is never an easy ordeal, losing your job, whether emotionally or financially. Regardless, it is crucial to continue to be proactive regarding your finances and tax status....
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/09/2022
On filing your taxes, your tax records still need to be with you for nothing less than three years after filing. It is also possible to keep them for two years, going by the date...
Posted by Pat Raskob on 11/21/2021
Form W3 from the IRS is a summary of your employee's earnings and tax deductions. Everyone needs to file form W3 with the SSA (Social Security Administration), as they use it to...
Posted by Rosovich & Associates, Inc. on 10/30/2021