Many of you have most likely heard of self-employment taxes. What about income that you collect occasionally or one-time? Let’s dive into when you DON’T owe self-employment taxes. If you’re not familiar with self-employment taxes, then I highly suggest you learn about them as a freelancer or business owner. The IRS even has a tool …
How to know if you owe self-employment taxes on one-time income Read More »
For anyone planning on workamping or camp hosting, it’s important to understand your tax obligations. Even if you don’t do your own taxes, it’s important to understand these 5 tax considerations when workamping or camp hosting. You should have a basic understanding of your tax situation so you are prepared to share this information with …
Chances are if you are reading this, then you are already self-employed or interested in becoming a small business owner. Congrats! However, it’s important to consider self-employment taxes if this is you. Self-employed means you fit any of the following: You carry on a trade or business as a sole proprietor (single-member LLC included) or receive income …
Understanding self-employment taxes as a freelancer Read More »
As a sole proprietor, you deserve to get paid. However, it’s important to know how to pay yourself as an entrepreneur. Who doesn’t want to be compensated for their hard work, right? You’re an entrepreneur which means you are your own boss. This can be quite rewarding but it also comes with some pain points. …
Are you getting ready to hit the road and start your nomadic life? Chances are you might also be getting ready to sell your home. Here are some tips to help you understand taxes when selling a home. Gain The IRS has exceptions for taxpayers who sell their main home. This means you may qualify …
Tips to save on income taxes when selling a home Read More »
April 15 has passed. You filed your taxes and you have a tax liability. What should you do if you don’t have the money to pay your tax liability? Don’t panic. It happens to many and there are several ways to settle a debt with the IRS. Ways to pay your tax liability: Make a …
Are you a self-employed small business owner? If so, let’s take a look at 7 ways to save money on your taxes. Do you put off doing your taxes because you are too scared to find out what you’ll owe? Are you confused over what deductions you can take? Yes. I’m talking to you the …
Ready or not tax season is here! This means it’s more important than ever to gather all your paperwork. To help you get started, here’s a guide to help you prepare to file your taxes. These are the top 10 deductions and credits taken on tax returns. Prepare to file your taxes Whether you’re planning …
10 deductions to help prepare to file your taxes Read More »
It’s almost that time again! You know the one that most people dread. Taxes. Let’s help make tax time easier and a little less dreaded. I can almost see you shaking your fist and rolling your eyes. Who like taxes? The truth. Nobody! While it might not be the most fun thing to focus on, it …
We all know the Tax Cuts and Jobs Act is complex. That’s why I try to keep it simple. You can download this free guide which covers 17 high-impact changes in the law that you need to know. Otherwise, let’s take a look at the 17 ways the Tax Cuts and Jobs Act affects you. 1. 199A Deduction …