For independent contractors, tax deductions represent a major way to save on your taxes. Due to self-employment taxes, your tax bill can often come as quite a sticker shock, but ensuring you utilize the right deductions for your business, you can reduce that tax...
Digital payment platforms have become a common substitute for cash transactions. Now, when you owe your roommate money for rent and or need to repay your friend for lunch, a simple Venmo or PayPal transaction can settle the debt instantly. But as these platforms have...
Everything seems to have slowed down these days, thanks to labor shortages and supply chain issues, and the IRS is no exception to this. The IRS has been working with roughly the same number of employees since the 1970s, despite the number of taxpayers increasing...
The New Year can be a busy time—for you, and for identity thieves. As we enter tax season, many criminals will ramp up their activity levels, stealing personal identifying information in time to file a false tax return in your name. This allows them to collect a...
Tax deductions and credits can make a big difference in how much you owe on your tax return—and that’s true for individuals and businesses alike. However, too many people are unaware of all of the deductions and credits they qualify for, and they end up missing out on...
Managing your personal finances and tax returns may differ from your business’s needs. Bookkeeping and tax benefits require specialized attention. We’ve already discussed why you should have professional accounting services for your government contracting...
