Originally published August 31, 2016 – Updated April 9, 2025 A common question I receive from small business owners is, “How do I calculate my quarterly tax payments?” At the heart of this question is […]
The Ultimate Guide to Estimated Taxes (Form 1040-ES) Read More »
Hiring employees and contractors is an essential part of your growing business, but navigating the complexities of IRS forms can be challenging. To provide clarity and simplify the process, we’ve prepared an overview of the
What is the difference between a W2 and a 1099? Read More »
If you earn income that’s not subject to tax withholdings, you’ll want to consider making estimated tax payments. Due four times each year, estimated tax payments are applied to your current year tax liability. Here
Tax Smarts: A Guide to Estimated Tax Payments Read More »
The IRS has some thoughts. Distinguishing between a hobby and a business is confusing at times, yet it holds great significance, especially when it comes to taxes. The main difference lies in the purpose of
Is my side hustle a hobby or a business? Read More »
Many people have taken on a nanny or babysitter to help with childcare. If you have a nanny, you may have more than a casual contractor engagement, you may have a household employee and you
Should You Be Withholding Taxes for your Nanny or Babysitter? Read More »
The Infrastructure Investment and Jobs Act of 2021 (IIJA) was signed into law on Nov. 15, 2021. One major provision of the IIJA includes a requirement that cryptocurrency exchanges perform intermediary Form 1099 reporting for
IIJA’s New Digital Asset Reporting Requirement Read More »
This tax year will be another complex year as many taxpayers received stimulus payments or advance Child Tax Credit payments and will need to take steps now to make filing their tax returns easier in
How-To Plan Now to Make Filing Your Taxes Easier in 2022 Read More »
The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan has been increased from $19,500 to $20,500 beginning with the 2022 calendar year. Additionally, the
IRS announces 401(k) limit increases to $20,500 Read More »
The American Rescue Plan Act (ARPA) included a provision that allows for the IRS to begin making advanced payments of the Child Tax Credit next month. This credit, up to $3,600 per child under the
Advance Child Tax Credit: Should You Opt-Out? Read More »
Below we have assembled a brief summary of some of the individual taxpayer provisions of the American Rescue Plan Act of 2021 (ARPA), passed on March 11, 2021. A Third Round of Stimulus Recovery rebate
The American Rescue Plan Act of 2021 – Individual Provisions Read More »
The premium tax credit (PTC) is a refundable tax credit that assists individuals and families in paying for health insurance obtained through a Marketplace (Healthcare.gov) and was established under the Affordable Care Act (ACA). Recent
ARPA’S Enhancements to the Premium Tax Credit Read More »
