Tips for Filing Taxes as a Freelance Graphic Designer
Updated for tax year 2023. You’ve recently launched a thriving graphic design business — but have you thought about filing your taxes as a freelance graphic designer? Here are some tax-saving tips to...
View ArticleTop Tax Deductions for Freelance Tutors
Updated for tax year 2023. Freelance tutoring can be a great way to earn some extra cash. Sometimes, it may even turn into a full-time income. But since being a freelancer means you are an independent...
View ArticleThe Basics of the Simplified Home Office Deduction
Updated for tax years 2023 and 2024. If you have a small business and work at home, you probably know you can take a deduction for the expenses of your home office. However, it’s surprising how many...
View ArticleGuide to Adjusting Your Self-Employed Estimated Tax Payments
Updated for tax year 2023. If you are a taxpayer who makes quarterly estimated tax payments to the Internal Revenue Service (IRS), you probably determine how much you should pay each quarter at the...
View ArticleCows, Farming, and Taxes: What You Need to Know
Updated for tax year 2023. If you’re planning to start a farm or already running one, you should know that tax laws for farms can be more complicated than you might think. Even seemingly simple...
View ArticleThe Home Office Deduction: A Comprehensive Guide
If you work at home, you’ve probably heard about the home office deduction and its many tax benefits. But who exactly qualifies for this deduction, and how does it work? In this comprehensive guide,...
View Article6 Common Small Business Tax Deductions
Tax deductions greatly benefit the average taxpayer, but they can bring even greater tax benefits to a small business owner, contractor, or freelancer. Expensing business costs can help reduce taxes so...
View ArticleHow to Report Income to the IRS as an Etsy Seller
Selling on Etsy® may be a fast and easy way to get into business for yourself. But make no mistake — getting started in online sales may be quick and easy these days, but that doesn’t mean you’re not a...
View ArticleTax Deductions for Independent Business Consultants
Updated for tax year 2023. As an independent business consultant, you likely wear many hats and take on multiple roles. Your clients rely on your industry expertise to increase productivity and improve...
View ArticleTax Implications of Owning Rental Property
Updated for tax year 2023. Owning rental property is a source of income that impacts your tax return. Let’s dive into the Internal Revenue Service (IRS) tax rules for rental property owners to help you...
View Article6 Big Tax Mistakes Small Business Owners Make
Updated for tax year 2023. How you handle your record-keeping and taxes can make a big difference in your success as a small business owner. Make sure to avoid these common tax mistakes small business...
View ArticleMid-Year Review for Tax-Savvy Business Owners
Now is the perfect time to perform a mid-year review of your business activity, including your tax liability. Staying on top of these five things throughout the year will help you save time, money, and...
View ArticleHow to Change Your Business Name
Your small business is your baby and choosing the right name for it is a big deal. But what happens when you need to change your business name for whatever reason? Here’s how to prepare and what to...
View Article16 Business Finance and Tax Terms You Should Know
Running a business or a side hustle isn’t for the faint of heart. Whether you’re just starting out or you’ve been doing this for a while now, the self-employed and small business owner tax jargon can...
View ArticleLLCs vs. Corporations: Which Is Best for Your Small Business?
One of the most important decisions you’ll make as a small business owner is choosing your legal business structure. As with most business decisions, there is no one-size-fits-all for selecting the...
View ArticleHow to Pay Yourself as a Business Owner
Navigating the ins and outs of owning a business can be difficult, especially as a small business owner. With limited resources and funds at your disposal, determining how to pay yourself as a small...
View Article7 Commonly Asked Small Business Tax Questions
Updated for tax year 2024. New to small business taxes and all they entail? In this article, we’ll cover some of the most frequently asked small business tax questions from every type of business, such...
View ArticleHobby Income vs. Business Income: What’s the Tax Difference?
Updated for tax year 2024. If your hobby earns you income, the IRS wants to know about it. But how do you report hobby income, and what are the differences between hobby income vs. business income? Is...
View ArticleKey Tax Deadlines for Small Business Owners
Updated for tax year 2024. Curious about the business tax deadlines that you should mark on your calendar this tax season? Here’s what small business owners need to know. Deadlines for filing small...
View Article16 Small Business Tax Deductions
Updated for tax year 2024. Being a small business owner comes with some unique challenges — including figuring out how small business taxes work. The good news? We’re here to spill the essential small...
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