The influencer market is booming, turning content creators into entrepreneurs running profitable businesses. But this financial growth means you need good accounting practices. The IRS is watching influencers closely, and poor accounting can lead to audits. As influencers become more economically significant, managing finances professionally is key. Accounting for Influencers: The Basics Influencer Marketing Hub […]
Category: Tax Tips
Student Loan Tax Tips: A Complete Guide
Though student loan forgiveness has been in the news a lot lately, most borrowers are still shouldering significant debt. Though higher education can be a costly investment, there are some benefits to having loans when it comes to taxes. We’ll take a look at the student loan interest deduction and other student loan tax tips. […]
Digital Nomad Taxes Survival Guide
Digital nomads have taken the idea of remote work to the extreme. While some may have home bases, some digital nomads have decided to travel the world and have jobs that allow them to stay connected wherever they are. This article explores digital nomad taxes. Though the idea of the open road and picturesque backdrops […]
IRS Inflation Adjustments for Tax Year 2023
Every year, the IRS tweaks certain deductions to account for inflation. IRS inflation adjustments affect many parts of your taxes, including income tax brackets, standard deductions, and several other tax credits and deductions. The changes discussed in this article will apply for tax year 2023, so you can expect to see these adjusted totals starting […]
HSA Taxes: Healthcare Savings Account Tax Tips
Health Savings Account (HSA) often emerges as a rare opportunity for tax planning. An HSA provides a way to save for medical expenses and offers unique tax benefits that can significantly enhance your overall financial health. In this article, we’ll delve into the nuances of HSA taxes, providing essential tax tips that will help you […]
The Best Married Couples Tax Tips
It’s hard enough to navigate taxes when you’re on your own, but once you get married, everything becomes more complicated. Married couples face a unique set of challenges and opportunities. As a married couple, you have some flexibility to maximize your financial benefits and minimize your tax liabilities. From optimizing filing status to leveraging deductions […]
4 Reasons to Extend Your Taxes in 2023
Tax extensions are a controversial subject, and there’s lots of bad information swirling around the internet. Truthfully, six-month extensions have become commonplace among businesses and individual tax payers, and there are virtually no downsides associated with filing one. In fact, filing a tax extensions can provide several valuable benefits, and we’re going to cover some […]
Can I Deduct Moving Expenses in 2023?
The average cost for an in-town move is about $2,000, while moving across the country can approach $30,000. Because moving is often related to a new job, many people wonder if these considerable expenses are deductible. First, we’ll take a look at the current and previous rules regarding how to deduct moving expenses. Can I […]
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. […]
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 […]