News reports are saying the SBA is out of money on the first round of funding. Don’t Worry, round two is about ready to start. If you do not have employees you may have heard that you will not qualify for this loan and this is absolutely not the case! We are encouraging all our… Read more »
3 BEST COVID-19 RELIEF OPTIONS FOR FREELANCERS, SELF EMPLOYED, & SMALL BUSINESSES
An outline of the main options and programs for Freelancers, Solopreneurs, and 1099 Contractors who are in need of COVID-19 relief funds: Paycheck Protection Program Loan SUMMARY: Loan for Payroll and other overhead expenses such as rent for employers and sole proprietors with fewer than 500 employees. All or most of the loan amounts… Read more »
Tax Deductions for Bloggers and Writers
If you are one of the millions of people who worked as freelance writers during 2019, you should start thinking about the forthcoming tax season with respect for Tax Deductions for Bloggers and Writers. With less than two months until the fiscal year ends, you must begin making some basic preparations now. The first two… Read more »
Can I Deduct Nanny Expenses on My Tax Return?
Can I Deduct Nanny Expenses on My Tax Return? In a nation where nannies are one of the most fundamental parts of the working culture, it comes as no surprise that there are many laws specifically focused on them. Some of the most important ones, however, are the tax laws that guide people on how… Read more »
What Rental Property Closing Costs are Tax Deductible?
Tax deductions are a great way to save money at tax time every year. Taking full advantage of tax deductions and knowing what rental property closing costs are tax deductible will save you thousands of dollars over time, especially when it comes to purchasing a rental property. Every expense related to your rental should be… Read more »
How Much in Taxes Do You Really Pay on 1099 Income?
As more and more people venture into the sphere of independent contracting, the demand for full-time employees, commonly known as “W2” workers, declines. This comes as no surprise given the number of benefits that both sides of the transaction enjoy. The workers, for instance, get to take advantage of unparalleled flexibility, and the employers get… Read more »
Can I deduct gofundme donations?
To answer the question can I deduct gofundme donations?, one must consider the facts and circumstances of the donation and apply the correct interpretation of the law. If you are the donor: The fact that a charitable contribution is made through gofundme does not make it nondeductible. Depending on the facts and circumstances of each… Read more »