One of the biggest stories in the world of business is the growing shift toward self-employment. An ever-increasing number of men and women are saying goodbye to their colleagues, their cubicles, and their corporate overlords, choosing instead to make their own way in life. If you are one of these self-employed individuals or a new […]
If you are a procrastinator, tax filing season is probably the worst time of year. With deadlines looming, filling out all those complicated forms and making sense of an increasingly complex tax code that changes almost every year can seem like an overwhelming task. But no matter how long you put it off, the April […]
Tax returns can often be filed with incomplete or incorrect information, leading you to more tax trouble than you bargained for. If you filed early, you might have overlooked income from a temporary job or a side gig, only to get a 1099 or late W2 for the income earned. Other filers may eventually realize […]
COVID-19 turned the world upside down. With most of the country shut down, businesses closed, and people forced to “stay-at-home” in order to keep everyone safe, it was just a matter of time before the IRS postponed tax day. On March 21, 2020, the IRS announced that they’d be delaying the tax filing deadline that […]
Much like a natural disaster, the coronavirus took the world by storm and forced everyone to seek “shelter at home” and to change their daily habits in an effort to “flatten the curve”. This meant shutting down businesses and within a week, millions of Americans found themselves out of a job. Businesses who had record […]
Tax season can be an unpleasant time of year for a lot of taxpayers, especially if you owe money to the IRS or State. The only thing you can do is make the most of it, prepare ahead of time, and pay the lowest amount allowed by law. Now is the time during this COVID […]
After years of flying under the radar, taxpayers who hold Bitcoin, Ethereum, Litecoin and other cryptocurrencies are finally getting their fair share of scrutiny from the IRS. The tax agency, it seems, has figured out that cryptocurrency is here to stay, and that the mind-boggling returns early adopters have enjoyed could be a boon for […]
Of all the creditors or companies you might owe money to, the Internal Revenue Service can be the least forgiving about debt. If you don’t pay your taxes, the IRS will levy and take possession of your property, including cash accounts, wages, and real and personal property. The IRS will sell non-liquid assets to raise […]
Every year, there are millions of taxpayers who find themselves unable to pay their taxes in full to the IRS. The IRS knows there will be some taxpayers coming up short. The good news is the federal government is happy to work with you. The bad news is, they’re relentless in their collection of back […]
You might wonder why there are so many extra tasks at year-end. While the government requires much of the work, there is clean-up work and adjustments that need to be done to make the books accurate. It’s not always cost-effective to perform all of these updates monthly, so you’re actually saving money by doing some […]