We’ve been receiving numerous inquiries from people who have Sharing Economy Income and also Social Security Disability Insurance (SSDI). If you’re on SSD or SSI, sharing economy income can impact […]
Category: Tax Tips
Best Time Management Apps for Small Business
Are you missing an important deduction, one that will help you live the freelancing lifestyle from wherever you travel? If you write for others from someplace other than a repurposed […]
How to Calculate Effective Tax Rate
One of the leading questions when it comes to tax preparation is, what determines my tax rate? Tax rate measures the percentage of your income that you pay in taxes. […]
The Ultimate Tax Planning Checklist for Homeshare Hosts
Are you ready for this tax year? With the end of the year fast approaching, now is the best time to consider your tax strategy for the new year. By planning ahead, you can maximize your deductions before tax season begins. […]
Qualified Business Income Deduction for Homeshare Hosts
If you are self-employed or work as an independent contractor, tax deductions are really important for lowering your tax obligation. One such deduction that can be of tremendous help is […]
Easy Expense Tracking for Maximum Deductions
Tracking your income and your expenses is the first and one of the most important steps in understanding your tax obligations. Accurately calculating your net income (earnings less deductions) will give you the clarity you need to determine whether you are required to make estimated payments and whether you will be subject to underpayment penalties, for example. Calculating annual income Whether you’re paid hourly, weekly, or receive a fixed salary for the year, knowing how m […] […]
Mileage Reimbursement Rules for Uber Drivers and Turo Owners
As a business owner, tax deductions are your best friend. By leveraging your qualified expenses against your income, you can effectively lower your tax obligation. When it comes to qualified […]
Lyft Taxes: Tax Tips for Rideshare Drivers
Navigating the complex nature of self-employed taxes can leave you with a lot of unanswered questions. How does the IRS tax my Lyft income? Do I have to report my […]
Who Qualifies For The Earned Income Tax Credit?
Many taxpayers save a lot of money with the Earned Income Tax Credit (EITC). This common tax credit can make your refund bigger or, if you owe, it could help […]
Marginal vs Effective Tax Rate: What’s The Difference?
Your tax rate determines how much you pay in taxes. There are currently 7 tax brackets, ranging from 10% to 35%, where you fit into the tax brackets will depend […]