Author: Irish

Paying estimated tax is a proactive way to stay ahead of your taxes, especially if you’re self-employed—independent contractors, locum tenens, CRNAs, freelancers, gig workers, and small business owners. Since no one withholds taxes from your income, it is your responsibility to make estimated tax payments in quarterly periods throughout the year. Doing so helps you… Continue reading How to Pay Fderal Estimated Taxes via IRS Direct Pay (Bank Account) 

Federal income taxes are paid either through paycheck withholding or estimated tax payments. If you end up paying more taxes than what you owed, the IRS returns to you the extra amount back in the form of a tax refund.  If you’ve already filed your return and expect a refund, here are some helpful things… Continue reading What to Expect When Expecting an IRS Refund 

Receiving a letter from the Internal Revenue Service (IRS) can be unsettling, especially if you don’t know why you got one or what to do next. However, getting IRS notices doesn’t automatically mean problem, many IRS notices can be addressed quickly if you understand their purpose.   Why the IRS Sends Notices or Letters  The IRS… Continue reading IRS Notices: What to Do When You Get One 

Tax time can get overwhelming, especially if you’re a self-employed individual trying to figure out how your business fits into the tax system. But good news to all self-employed individuals—such as independent contractors, locum tenens, CRNAs, freelancers, gig workers, and small business owners—filing and paying taxes is easier and simpler than you think once you… Continue reading Pass-Through Entities: Who Actually Pays the Taxes? 

An S corporation is a popular business structure for many self-employed individuals—locum tenens, CRNAs, independent contractors, or small business owners because of its tax advantages particularly for lowering self-employment taxes. However, when it comes to deducting vehicle expenses, there are rules that must be observed depending on who owns the vehicle.  Personal Vehicles Used in… Continue reading S Corporation: Deducting Business Use of Vehicles 

For many self-employed individuals—locum tenens, CRNAs, independent contractors, or small business owners, electing an S corporation is a smart move bringing in benefits to their business particularly when it comes to lowering their self-employment taxes. However, deducting health insurance premiums for S corp owners can be complicated since there are certain IRS rules and limitations… Continue reading S Corp Owners: What to Know About Health Insurance Deduction