As we just came off the rush of the 2022 Tax season, I hear my usual complaints, I pay too much in taxes. My friend did not pay as much as me! They even got a refund. Where am I going wrong? The answers are usually quite simple. Where did we go wrong? Did you… Continue reading Tax Season Complaints: I have to pay taxes? I will never retire.
As the tax season ends, it’s important to remember that paying taxes is not a once-a-year activity. The government describes taxes as pay-as-you-go, meaning taxes need to be paid as you earn or receive your income hence the tax withholdings on your paychecks. But if you’re a small business owner, self-employed, independent contractor, locum tenens,… Continue reading Estimated Quarterly Tax Payment Reminders
Running out of time to file your tax? Don’t worry, there is a solution and it’s for free! Give yourself more time by filing for an extension to file your tax returns. This year’s tax deadline is on April 18 and the Internal Revenue Service (IRS) understands the difficulty of meeting this deadline. To address… Continue reading Extension of Time to File Tax Returns: What You Need to Know
If you are engaged in real estate business, it is crucial to understand the U.S. tax code since it can have significant impact in your financial outcome. A specific section to note is the Internal Revenue Code (IRC) Section 469 which governs the rules related to losses from passive activities such as rentals. In this… Continue reading Maximizing Tax Benefits: Real Estate Professional Status (REPS) and IRC Section 469
The Inflation Reduction Act (IRA), which was signed into law last August 2022, commits to bring more to the table than just reducing the looming effects of soaring inflation. One of its goals is to fight climate change by mitigating pollution through the promotion of a clean energy economy. The law has several provisions and… Continue reading Electric Vehicle Charger Tax Credit
Hair experts (also called barbers, stylists, hair specialists) are confident that when a customer sits in the chair, he/she will leave with a gorgeous hair. However, as sure as they are that hair will grow, they can also be sure that taxes will follow. This article talks about our hair experts and hair taxes… In… Continue reading HAIR EXPERTS and TAX SECRETS
For many of us, our residence is our most valuable asset. But what if we sold our home? As a taxpayer, our primary concern is how to save on taxes on the sale of our home. With the rising prices of homes for sale, could you possibly sell and pay zero taxes on your realized… Continue reading Sell Your Primary Residence and Pay Zero Tax!
Being a woman in the business world can be challenging due to gender-related biases such as limited access to capital funds and networking opportunities, and gender-based discrimination, making it difficult for them to start and grow a successful business. Nevertheless, women entrepreneurs have succeeded over these barriers and have shown significant contributions to the world… Continue reading Woman-Owned Business Certification
Women business owners has certainly made a strong impact in the economic growth and employment opportunities worldwide. According to the National Association of Women Business Owners (NAWBO), more than 11.6 million firms in the United States are owned by women, employing nearly 9 million people, and generating $1.7 trillion in sales as of 2017. Their… Continue reading Women in Business
If your business or profession,(locum tenens) requires you to travel away from your tax home for more than an ordinary day’s work that you will need to sleep or rest there, then you may be able to deduct ordinary and necessary expenses relative to your travels away from your tax home. But what is this… Continue reading Your Tax Home: It’s Important