Estimated Tax Payments for 1099 Independent Contractors
Find everything you need to know to correctly estimate and pay your quarterly taxes in this complete guide. […]
Author: Miguel Alexander Centeno
Posts by Miguel Alexander Centeno
Buy Now Refinance Later Mortgages: Are They Legit?
With home sales slowing down, lenders are looking for ways to increase the number of mortgages lenders issue. One of the latest marketing ploys is a “buy now, refinance later for free” mortgage. It promises that borrowers can take advantage of lower interest rates in the future. But are these mortgages good for real estate […]
What’s the IRS Standard Mileage Rate for 2023?
Transportation expenses can be among the biggest expenses for employees and business owners. The IRS allows you to take either the actual expenses for your travel costs or a standard mileage rate. Knowing which one to take can mean significant tax savings. We’ll look at the current standard mileage rates, their use, and the alternative […]
Tax Software vs Accountant: Which One Do You Need?
Maybe you’ve been doing your taxes on your own for years, or perhaps you’re filing taxes for the first time ever, but at some point, most people ask themselves: Tax Software or accountant? Should I buy software for tax season or hire someone to do it for me? In this article, we’ll discuss the intricacies […]
Do I Need a CPA? Probably Not…
Many taxpayers turn to Certified Public Accountants (CPAs) for their expertise and guidance. However, hiring a CPA can come with substantial costs. In this article, we’ll answer the question, “do I need a CPA?,” and we’ll explain what to consider when deciding on the answer for yourself. What is a Certified Public Accountant (CPA)? CPAs […]
Roth IRA Conversion: Explained by Experts
Roth IRAs offer substantial benefits for retirement savers, but there are limits on annual contributions. However, you can bypass the limits by converting a regular IRA to a Roth account. A Roth IRA conversion is a powerful tax planning tool, but it comes with some potentially severe tax implications. This blog post will explain everything […]
6 Big Changes for the 2023 Tax Season
The tax code gets updated regularly, and this year is no exception. However, there are some particularly impactful changes coming this year thanks to recent legislation. Here are the 6 biggest changes to watch for on your 2023 taxes. What to Expect for 2023 Taxes The 2023 changes to tax laws include adjustments to tax […]
How to Use Tax Loss Harvesting to Save on Taxes
No one wants to take a loss on an investment, but it happens to the best. Fortunately, the government may allow you to deduct your losses on your tax return. Some taxpayers use strategically this write-off to lower their taxable income with a technique called tax loss harvesting. With tax laws constantly changing, it’s important […]
How Does the EV Tax Credit Work for 2023?
Buying a new vehicle is a large investment that requires careful consideration. Luckily, many electric vehicle buyers can earn an EV tax credit of up to $7,500 on their purchase starting in 2023, thanks to the recently-passed Inflation Reduction Act. The US government offers a federal electric vehicle tax credit to encourage individuals to purchase […]
Capital Loss Tax Deductions for Real Estate
Real estate looks like an attractive investment in today’s high inflation environment, but it comes with risks. If your investment property loses value, you end up with a capital loss. Nobody wants to lose money, but capital losses can provide valuable tax relief when you need it most. However, capital loss benefits have limitations, and […]