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Article Category: Taxes

How To Talk To A Live Person At The IRS

Posted by & filed under Taxes.

When questions about tax returns come up, many people turn to IRS customer support. However, how to talk to a live person at the IRS, is usually easier said than done!   Callers to the IRS customer support phone line are met with a litany of options that are difficult to navigate. When all you… Read more »

Best Online Tax Services

Posted by & filed under Taxes.

If you struggled to get your taxes submitted before July 15, which was the prolonged deadline for this year, or October 15, which was the extension deadline, you probably looked into online tax services at some point. As one of the fastest-growing virtual industries, tax preparation services that are done via the internet have slowly… Read more »

How Much Does It Cost To Hire A CPA?

Posted by & filed under Taxes.

Nobody like paying taxes, and if you run a business, you sure don’t want to pay more taxes than necessary. But it can seem like a balancing act trying to decide who should do your taxes. A mistake could mean giving the IRS thousands of dollars you could have put back into your business. It… Read more »

Can I Deduct My Phone Bill as a Business Expense?

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

If you are anything like the vast majority of Americans who rely on their phones for professional communication, news updates, or social interactions, you probably utilized your device for business-related purposes at some point. As with other tools that you use during the regular course of your venture, this would mean that you should be… Read more »

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 »