Category Archives: Self-Employed

FAQs on the Early Release of the 2020 Form W-4

The following article was published by the IRS. 1. Why redesign Form W-4? The new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. While it uses the same underlying information as the old design, it … Continue reading

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Business Taxpayers Should Take Another Look at Their Estimated Tax Payments

The following article was published by the IRS. Taxpayers who pay quarterly estimated tax payments may want to revisit the amount they pay. The Tax Cuts and Jobs Act changed the way most taxpayers calculate their tax. These taxpayers include … Continue reading

Posted in Corporate Taxes, IRS, Personal Taxes, Planning Strategies, Self-Employed, Small Business, Tax Law Changes, Tax Payments, Tax Relief, Tax Tips, Taxes | Tagged , , , , , ,

It’s Summertime… and These Tips can Help Make Livin’ Easy for Teens with Jobs

The following article was published by the IRS. With summer almost here, many students will turn their attention to making money from a summer job. Whether it’s flipping burgers or filing documents, the IRS wants student workers to know some … Continue reading

Posted in Education, IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed, Tax Tips, Taxes | Tagged , , , , , , ,

Some S Corporations May Want to Convert to C Corporations

The following article was published by the IRS. After last year’s tax reform legislation, some S corporations may choose to revoke their S election to be a C corporation because of the new, flat 21-percent C corporation tax rate. Before … Continue reading

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Estimated Taxes Form and Publication Can Help People Pay the Right Amount in 2019

The following article was published by the IRS. The Internal Revenue Service is reminding self-employed individuals, retirees, investors and others who pay their taxes quarterly that the first estimated tax payment for tax year 2019 was due Monday, April 15, … Continue reading

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Business Owners can Claim a Qualified Business Income Deduction

The following article was published by the IRS. Eligible taxpayers may now deduct up to 20 percent of certain business income from domestic businesses operated as sole proprietorships or through partnerships, S corporations, trusts, and estates. The deduction may also … Continue reading

Posted in Corporate Taxes, IRS, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes | Tagged , , , ,

Recent Developments That May Affect Your Tax Situation

The following is a summary of important tax developments that occurred in October, November, and December of 2018 that may affect you, your family, your investments, and your livelihood. Business meals. One of the provisions of the Tax Cuts and … Continue reading

Posted in Corporate Taxes, IRS, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Tips, Taxes, Uncategorized | Tagged , , , , , , , ,