We know that the tax season is months away. However, the year will end in a couple of weeks. This is the perfect time to be proactive with your tax planning to have a favorable 2020...
Posted by LLOYD J CAZES CPA on 01/23/2020
IRS direct pay is a newly launched web-based system that enables taxpayers to pay their tax bills and calculates their tax payments through online. The payments will be directly charged...
Posted by YourIRSTaxAdvocate.com on 01/19/2020
Direct payment offers individual taxpayers an easy way to quickly pay the amount owed on the payment statement or bank bill, or make estimated quarterly payments without having to...
Posted by Valderas Financial Solutions LLC on 01/02/2020
A business operated by an individual owner is what we will call a sole proprietorship. And, for several reasons, the sole proprietor is unique:You can just get started if you want...
Posted by Debi G Hill, CPA on 12/28/2019
Taxable income is the sum used in estimating the amount of tax a person or corporation owes to the government in a given fiscal year. Generally, it is described as a gross income or...
Posted by Advanced Accounting & Tax Planning on 11/05/2019
An independent contractor can also be called as self-employed or someone who is an independent business person. It’s really just getting paid for your work in a different manner....
Don’t forget self-employment tax in your business tax planning. The tax for Social Security and Medicare paid by business owners is what self-employment tax is. It is paid in...
Posted by Flynn Financial Group Inc on 08/23/2019
Business losses reduce taxable income and many good freelance businesses incur losses which is somewhat a good thing since it means you pay less in taxes. A business loss could mean...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 07/26/2019
There is no hard-and-fast method for differentiating between a hobby and a real business based on a tax return. There is no way to tell a business from a hobby except by the use of...
Posted by Elliot Kravitz, ATP on 07/25/2019