How To Do Taxes When Self Employed

How To Do Taxes When Self Employed

How to Do Taxes when Self Employed – Top 3 Tips

With the massive loss of jobs due to the pandemic, many individuals joined the ranks of the self employed. They became known as gig workers such as an Uber driver, Instacart shoppers, delivering for Amazon, and many others. It meant you had to know how to do taxes when self employed, and these taxes became a little more complicated.

If you worked for an employer at their office, for instance, all required taxes were withheld from your pay and sent in to View full post…

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File Taxes if Self Employed

File Taxes if Self Employed

How To File Taxes If Self Employed In 3 Easy Steps

If you’re a freelancer, or basically work for yourself, you’ll probably need to file an IRS Schedule C when tax time rolls around. This would include you folks that have a side gig, or maybe run a small business too. When you file taxes if self employed, you need to be aware of some of the tips that may save you time and your hard earned money.

We’ll cover who has to file a Schedule C – how it works – what it is, and what it does to your tax return. View full post…

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Taxes on the Sale of a Foreign Home

Taxes on the Sale of a Foreign Home

How Is the Sale of a Foreign Home Taxed?

There are many U.S. citizens who live and work part or full time in a foreign country. At some time, they will be faced with the taxation on the sale of a foreign home when they decide to move back to the USA. Many, as well, have enjoyed the balmy weather of Southern France, but miss the View full post…

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Cheating On Your Taxes

Cheating On Your Taxes

8 Ways You May Be Cheating on Your Taxes

There are many ways you can be cheating on your taxes without even being aware of it. Often times a well-meaning friend or relative will tell you that some type of income isn’t taxable because they’ve been doing it for years and the IRS hasn’t said anything. Ever hear that?  We all have, I believe.

Doing all you can to legally avoid taxes is okay, but it’s never okay to evade taxes. Maybe we’re “old fashioned” here at our firm, but we firmly believe that everyone should View full post…

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More State Taxes Due to the Pandemic

More State Taxes Due to the Pandemic

You Could Be in for a Tax Surprise by Working from Home During the Pandemic

Practically every state in the U.S. has a requirement, that anyone who does work within their state, must file a tax return there and pay state taxes. It doesn’t matter where you live either, and this might be a big tax surprise for some remote workers.

Many wage earners were required to relocate to another state because of Covid-19. Even though their move was temporary, as long as they earned income View full post…

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Do Your Taxes Online

Do Your Taxes Online

Do Your Taxes Online & Stop Paying Those High Fees

Tax Slayer Makes Filing Fast, Easy, and 100% Accurate

Filing your taxes is a process that we all would like to avoid, and for many good reasons. Not only is the process typically very time consuming, but it can also be so intimidating to know how to properly file your tax information and answer all of the questions correctly. You can do your taxes online here and avoid all of that hassle.

You can hire View full post…

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The Best Way to File Taxes

The Best Way to File Taxes

The Best Way to File Taxes When Filing a Tax Return for the First Time

When you do your taxes for the first time, it can be somewhat intimidating. You’re afraid you’ll forget something, or worse, that you’ll mess things up. Don’t sweat it, the best way to file taxes the first time, or for that matter, anytime, is file your taxes online.

Sure, there are lots of rules to look out for, but if you do them online at our site, you don’t have to be concerned with them. We know all the rules and regulations and will make it very easy for you. All you need to do is to answer a few View full post…

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5 Safe Options to Pay Your Tax Balance

5 Safe Options to Pay Your Tax Balance

If I Owe the IRS, What Are My Options?

I know, I know…you go through a lot of stress just in preparing your tax return, but when you owe money also, it’s like getting kicked when you’re already down. Then if you happen to be short of cash, and can’t pay your tax balance in full, what is one to do?

Way back in the “old days”, when I was just starting out with my tax practice, if you had a balance due and didn’t pay it in full, the IRS came after you very quickly. As the years went by, and more and more taxpayers found themselves in that predicament, the IRS decided it was in their best interest to work with the taxpayer, and collect more money in the long run. View full post…

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Should You Itemize Your Deductions

Should You Itemize Your Deductions

Is It to Your Advantage to Itemize Your Deductions?

Under the old tax rules from many years ago, the answer to this question was generally yes, for most filers. Today, and especially after TCJA, more filers are using the new standard deduction. If you want to itemize your deductions, you need to exceed those amounts for the standard deduction.

To itemize your deductions, you need to keep track of medical expenses, various types of taxes that you pay, charitable contributions, qualified mortgage interest paid, and certain casualty losses. It takes more work to keep accurate records for these deductions, but it could payoff in the long haul.

Using the standard deduction or View full post…

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Best Way to File Taxes

Best Way to File Taxes

Best Way to File Taxes if You Are Self-Employed

If you’ve just started a new business, or are planning to open one, you will need to know the best way to file taxes. The steps that you need to take are not complicated, but some of the detail might be. Whatever you do, don’t put off filing, or for that matter paying quarterly estimates, if required.

 The last thing you want, is to end the year with a nice profit, and have a big tax bill for income taxes and self-employment taxes. Like most new business owners, you’ve View full post…

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