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Article Category: Taxes

Can Independent Contractors Take the Qualified Business Income Deduction?

Posted by & filed under Can I Deduct?, Self Employed & 1099 Contractors, Taxes.

After the Tax Cuts and Jobs Act was passed in 2017, business owners saw major changes to the way that they will be taxed moving forward. For instance, corporations’ tax rate that had previously been 35% for larger filers dropped down to 21%. Given such a large drop in tax liability that would yield millions… Read more »

Home Office Tax Deductions for Remote Workers

Posted by & filed under Can I Deduct?, Taxes.

As the global pandemic spread across the world earlier this year, millions of Americans started working from home in order to minimize their exposure to the deadly virus. Doing so has resulted in a lot of individuals slowly shifting from being employees to working as independent contractors who receive 1099 income. So, in terms of… Read more »

Can I Deduct Rental Losses?

Posted by & filed under Taxes.

Over the past five years, the rental vacancy rates in the United States have seen a consistent drop caused by the growing market and an increasing number of families choosing to rent instead of own their home. In 2019, for example, Statista reports that none of the U.S. regions had more than roughly 8.2% of… Read more »

Virtual Tax Prep: Why You Should Get Tax Help Online

Posted by & filed under Taxes.

No matter how many times you’ve done your taxes, you likely face new tax challenges every year. Both new and experienced taxpayers struggle with this process, and many have no idea where to get tax advice online. Without professional guidance, it’s normal to feel anxious and unsure. What happens if you make a mistake? What… Read more »

How To File Your Taxes Online

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Navigating your taxes isn’t always easy. Between the forms and financial jargon, it’s not uncommon for the average person to feel lost. It can help to learn how to file your taxes online, but even the most popular tax prep programs can leave you scratching your head. To clear up the confusion, start with these… Read more »

RSU and Taxes: Restricted Stock Tax Implications

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Loyal employees often get perks for outstanding job performance, but most companies expect you to pay your dues before the benefits rain down. If you have an influx of restricted stock income coming your way soon, it’s a good idea to learn all you can about RSU and taxes. What Is RSU Income? If you… Read more »

Oops! How to Correct a Mistake on Your Filed Taxes

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By Alden Wicker Sending off your completed tax return is an amazing feeling. Goodbye to all that work until next year! That is, until you realize you’ve made a mistake. Maybe an extra 1099 came in the mail. Or you read one of our many tax articles and found out you missed a huge credit… Read more »