July - 2022

The Complete Guide: Filing Taxes As An Independent Contractor (1099 Worker)

For tax purposes, the IRS treats independent contractors as self-employed individuals. That means you’re subject to a different set of...

How Long Should You Worry About Unfiled Tax Returns?

The IRS has an unlimited amount of time to access unfiled tax returns. Technically speaking, taxpayers should keep their tax records for...

I Have Unfiled Tax Returns. What Do I Need To Do Next?

Some of the worst tax penalties that the IRS and states impose are related to unfiled tax returns with an outstanding balance. Failure to...

Your Road To Tax Debt Relief: IRS Installment Agreements

So, you've got the news that every taxpayer hates to hear: You owe the government money! Thankfully, the IRS permits eligible taxpayers...

Top Practices For Filing Tax Returns In 2022

We are currently in the middle of the 2022 tax return filing season, and we get frequently asked for filing advice. Best practices for...

Tax Relief Programs: How IRS Fresh Start Initiative Helps Relieve Tax Liabilities

Owing money to the IRS or state could be quite a daunting aspect, especially when terms like liens, levies, and wage garnishments are...

IRS Increases Business Travel Mileage Rates On July 1st, 2022

The IRS announced on June 9, 2022, that it would raise the standard mileage rate for business mileage for the final six months of 2022...

What Tax Advantages Should I Know About Before Buying Or Leasing A Car?

As a business owner, you probably have to consider the decision of leasing or buying a car more than an ordinary person aiming to buy or...

Top 5 Tax Breaks Self-Employed Taxpayers Should Know About

When you’re self-employed, you’re the boss. But because you're the boss, that also means you’re the one stuck with the big tax bill. When...

Self-Employed Contributions Act (SECA) Tax

Self-employed people are responsible for paying the Self-Employed Contributions Act (SECA) tax. They contribute to the cost of Social...

Here Are The Differences Between Marginal vs. Effective Tax Rates

Taxpayers can determine their IRS debt depending on their annual income and tax bracket by using marginal and effective tax rates. The...

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