Tax laws are complex and confusing, regardless of whether a person is filing as an individual or as a business. One of the many challenges faced by entrepreneurs is knowing what their tax requirements include and how they can meet these requirements effectively. There...
Tax Filing
How do I prepare proactively for the upcoming tax season?
With the holidays (almost) behind us, tax season will soon come around, and while in contrast to the holidays, it is one of the most dreaded times of the year, planning can make it much easier and less stressful for you. There are several ways you can prepare for tax...
Biggest mistakes people make at tax time
Filing your tax return can be one of the most stressful times of the year. You might have heard horror stories of others who suffered invasive tax audits or penalties & interest. The truth is that most individuals and businesses file their tax returns without any...
3 tax mistakes to avoid
While it is certain that some people get into tax problems due to purposeful tax evasion, many get there through their simple mistakes. Understanding some of the most common tax errors can help you ensure you do not do the same. Here are three: Overclaiming deductions...
How should I file form 1040?
The Internal Revenue Service (IRS) requires that you file an income tax return every year settling your tax responsibilities for the previous financial year. While you may have made estimated payments or your employer may have withheld taxes from your checks, filing a...
Should you file IRS taxes as single or married?
As a married couple, how to file your taxes is one of many decisions you have to make together. Only this time, there is no option to say, fine, you do your thing, and I’ll do mine. You both need to file in the same way. If the IRS considers you as married, then you...
Biggest mistakes people make as contract workers handling taxes
There are a lot of perks that come with being a contract worker. There’s often not a ceiling on the income that you can generate. It comes with many downsides, too, though. Having to address tax matters is one of them. Your self-employment seldom comes with an...
When do independent contractors pay estimated quarterly taxes?
Being self-employed can mean more personal freedom and keeping more of the money that you generate through your knowledge, skills or hard work. However, self-employment or independent contractor status also comes with additional costs. Increased tax obligations are...
What are the benefits of filing taxes quarterly?
Filing taxes can be frustrating, especially if you wait until the start of the New Year to go back and look at what you owe. If you run your own business, it’s a good idea to file your taxes quarterly, and the government may actually ask you to do so. Paying your...
Common tax mistakes independent contractors make
Many individuals across Georgia make their livings as independent contractors with the large businesses that call the Atlanta metro home. For a lot of these contractors, the thought of navigating the tax labyrinth can be stressful enough to warrant outsourcing their...