by Chris Dios | Oct 22, 2021 | Tax Tips
If you have an income, you’re responsible for taxes. The government taxes everyone, but Uncle Sam taxes wealthier taxpayers at a higher rate. Your tax bracket depends on how much you earn, whether you’re filing jointly, and a few other factors. We’re...
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by Chris Dios | Oct 22, 2021 | Tax Tips
Tax season is approaching fast, so you should get focused on your taxes. Your taxable income will determine your final year-end tax bill. To determine taxable income, subtract your allowed deductions from your total income. Your adjusted gross income will include...
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by Chris Dios | Oct 7, 2021 | Tax Tips
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 Form 1040 to report income. However, Form 1040 includes...
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by Chris Dios | Oct 4, 2021 | Depreciation Tips
Small business owners – especially during the COVID-19 era – need to save money whenever they can. The IRS recognizes this reality and offers a variety of tax incentives to help businesses both grow and save money. If you bought or leased a vehicle for...
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by Chris Dios | Oct 4, 2021 | Uncategorized
Have you ever considered turning a hobby into an income-producing activity? Starting a second business around something you love to do can provide outstanding tax benefits. But, before diving into a new enterprise, individuals should understand IRS hobby loss rules....
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