Accounting and Tax Tips Blog

How Do I Set Up a Payment Plan with the IRS?

Jul 3, 2020 | Tax Tips

The tax deadline is just a few short weeks away. Your tax return and tax payment are both due on the tax deadline. In instances where your tax bill is more than you can afford to pay, you have the ability to set up a payment plan with the IRS. Here we will walk you...

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Countdown to Tax Day 2020: The July 15 Deadline

Jun 27, 2020 | Tax Tips

Tax day 2020 is right around the corner, so it’s time to start thinking about taxes. If you haven’t prepared your 2019 taxes yet, now is a good time to get started. The IRS extended the 2019 tax deadline to July 15 as a result of the COVID-19 pandemic, so...

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Estimated Tax Payments for 1099 Independent Contractors

Jun 18, 2020 | Airbnb Taxes, Rideshare Taxes, Tax Tips

If you participate in the sharing economy by working as a 1099 contractor or by renting your home on Airbnb, you know that you will likely be required to pay taxes on your income. But just how much do you need to save in order to cover your estimated tax payments?...

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Estimated Tax Planning For Airbnb Hosts

Jun 11, 2020 | Airbnb Taxes, Tax Tips

Airbnb has risen in popularity over the last several years for both travelers and individuals looking to make an extra income. However, Airbnb hosts have to deal with tax ramifications. Many hosts are surprised to find out they owe estimate taxes on their earnings....

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How to Claim the Self Employed Health Insurance Deduction

Jun 4, 2020 | Tax Tips

Working as a 1099 contractor isn’t always easy, but it comes with some tax benefits that aren’t available to W4 employees. Healthcare is a huge expense for millions of Americans, but most employees can’t deduct the expense on their taxes. However,...

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3 Last-Minute Uber Driver Tax Deductions for 2020

Jun 1, 2020 | Rideshare Taxes, Tax Tips

Driving for rideshare is a great way to earn money at your own pace, but it complicates your tax situation too. You work for yourself, so there’s no one to withhold taxes from your check. You’re responsible for paying your own taxes, but you can reduce...

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