Being in debt to the IRS can seem like an insurmountable obstacle. One of the common questions tax debtors ask is, "Can I really settle my tax debt for pennies on the dollar?" It's a tempting notion and one that various advertisements have amplified. This article breaks down the reality behind this concept and offers five key points to consider. Understanding the … [Read more...] about Can You Really Settle Your Tax Debt With The IRS For Pennies On The Dollar?
Tax Management
What To Know About Your Side Hustle and Taxes
A side hustle can be an effective way to earn extra income. Opportunities are immense for side hustles for those with a variety of skills. Side hustles can be incredibly profitable when you operate yours intelligently, but there are things you need to know to manage your side hustle properly, including how your taxes work. With many traditional jobs, taxes are … [Read more...] about What To Know About Your Side Hustle and Taxes
Maximize Your Tax Deductions
Before you put pen to paper on those self-employment tax forms, one of the most important things you can do is make sure that you have maxed out your deductibles. Many people aren’t sure where they can make the most impact and often miss out on some deductibles that can change how their taxes look. When you are self-employed, there are a lot of forms and a lot … [Read more...] about Maximize Your Tax Deductions
Home Office Deduction for Freelancers
Working from home is one of the greatest perks of being a freelancer, especially if you operate your business from home full-time. It also provides you with a significant tax deduction, if you qualify for the home office deduction. Most self-employed individuals have long since operated their businesses from the comfort of their homes. According to the 2019 report released … [Read more...] about Home Office Deduction for Freelancers
Tax Preparation Business from Home and Its Benefits
We sometimes characterize finance and accounting occupations as dull, dry, or too complex. But that's just common with all kinds of jobs. Meaning, it's not the numbers that make your work dry. It's the constant investment of effort with no return. So, what motivates you to work with numbers? You do not have to work for anyone and can start your own business. Tax preparation … [Read more...] about Tax Preparation Business from Home and Its Benefits