What Happens If You Misclassify Employees as Independent Contractors?
Let’s say you hire a freelance graphic designer to create your logo. Their work is fantastic, and you give them so many additional projects they eventually decide to work exclusively […]
How Will the 2024 Independent Contractor Final Rule Affect Your Business
Whether you make a deal with a landscaper or work with an independent graphic designer, hiring freelancers is extremely common. However, in 2024, the Department of Labor (DOL) implemented a […]
Should You Form an S Corp
When you work for yourself, you can structure your business in multiple ways. Many entrepreneurs choose to establish S Corps for tax advantages and perceived legitimacy. However, the setup doesn’t […]
Should You Form an LLC?
If you’re self-employed, it’s common to structure your business as an LLC. However, it’s not necessary for every entrepreneur. According to the IRS, LLCs represented just 10% of non-farm sole […]
Make a Mistake on Your Taxes? How to File An Amended Tax Return
Did you see a mistake on your tax return? You may have forgotten about a little-known deduction or an odd job that didn’t pay much. Unless you’re an expert CPA, […]
You Forgot to Pay Your 2023 Taxes. What Happens Next?
With work, family, and personal commitments demanding your time, tax season might go by in a blur. Did you file your 2023 taxes or request an extension by April 15, […]
What You Need to Know Before Filing Your 2023 Taxes
Tax season is officially here, and with it comes fresh regulations and adjustments you need to know about. These changes might have a significant effect on your tax return. Whether […]
Taxes on 2023 Gambling Wins: What You Need to Know
Gamblers know that your finances can change with one lucky bet. Whether you pump money into a slot machine or wager that your favorite team will win, success could mean […]
2023 Education Tax Credits: A Guide for Taxpayers
Are you or one of your dependents currently pursuing higher education? You may be eligible for special tax credits. These credits help reduce your bill and could even provide you […]
Senior Tax Deductions
The IRS gives seniors over 65 a break by offering several lucrative tax deductions. Whether you’re retired or still earning income, taking advantage of these deductions could help cushion your […]
Guide for S Corp Shareholders: What’s a Reasonable Salary?
If you work for yourself, operating as an S Corp instead of a sole proprietorship often makes more sense. Your business remains the same, but the tax benefits can be […]
Maximizing Your IRA: Updates for 2023
Individual Retirement Accounts (IRAs) have long been a cornerstone of retirement planning, offering individuals a tax-advantaged way to save for their golden years. Recently, the IRS has made noteworthy changes, […]
