The New Qualifying Relative Rules
The IRS typically affords tax breaks to taxpayers with qualifying dependents to compensate for their additional costs. The most prevalent type of dependent is children, but qualifying relatives often include […]
The IRS typically affords tax breaks to taxpayers with qualifying dependents to compensate for their additional costs. The most prevalent type of dependent is children, but qualifying relatives often include […]
There’s been a lot of talk in the news recently about Congress raising taxes on the wealthy. Regardless of what the final legislation looks like, high earners can expect some […]
For independent contractors, filing taxes is a little more complicated. Contractors don’t have an employer, so they’re responsible for paying taxes and reporting their income. 1099 contractors must use IRS […]
JPMorgan Chase CEO Jamie Dimon directly addressed inflation on a recent earnings call. He stated that, “inflation could be worse than people think,” and “I don’t think it’s only temporary.” […]
Most business owners know the IRS taxes long-term capital gains at a lower rate than ordinary income. However, Section 1231 of the Internal Revenue Code offers an exception to this […]
Many business owners have heard of IRS Form 8995. But what does this do for small businesses? And how can you use IRS Form 8995 to save your business money? […]
With most of the pandemic finally behind us, many places around the country are starting to reopen. With bookings picking up throughout the country, it’s a good time to think […]
As a small business owner, it’s easy to become overwhelmed with tax-filing requirements. The number of different IRS forms can seem extremely confusing. For example, in 2018, qualifying businesses could […]
Owning your own business or working as an independent contractor has its perks. You can set your own rate, and work when and where you want. This is what has […]
Millions of Americans use Airbnb as an outstanding source of income. But short-term leasing can expose hosts to a gauntlet of local regulations. In places like New York City, where […]