Ryan McInnis 
With the outbreak of COVID-19, many things in American society have changed. From closing down restaurants to limiting the size of groups, the government is working to mitigate the impact of COVID-19 on the American economy. Taxes are also being affected by COVID-19. Read on to understand how. How is the federal government responding? In … Read more
You may know that it is always helpful and important to keep copies of your old tax returns on file. However, it can be all too easy for these copies to become misfiled or misplaced, especially if you move or face other challenges with your records. If you need copies of your old tax returns … Read more
Airbnb can be a great way to bring in extra cash, along with other home-sharing companies like VRBO and HomeAway. You might list your home when you travel, rent out a private room or even operate a second property as a vacation rental on Airbnb. However, it’s important to remember that running an Airbnb is … Read more
If you are part of a business partnership, you should be aware of the unique tax reporting requirements for this type of company. They are different from both sole proprietorships and corporations and in some ways reflect a combined approach. Partnership taxes involve two steps: The partnership itself reports its total income and provides forms … Read more
If you run a small business, you may work with a number of contractors, freelancers and vendors throughout the year. If you pay a particular contractor $600 for more for their services during any given year, you must complete an IRS Form 1099-MISC. In general, taxes are not taken out at the time that payment … Read more
Every year, people in the United States must file their tax returns with the Internal Revenue Service. Once upon a time, people lined up to bring their returns to a post office before midnight on the filing deadline on April 15. Today, most people file their taxes online. In fact, 92% of all tax returns … Read more
There are many different ways to file your taxes online when you run a small business. To start off, it matters whether you run the business entirely as a sole proprietorship, if you have an LLC or if you have fully incorporated. You’ll likely need to use a different tax form depending on the corporate … Read more
When you think about your annual tax responsibilities, you may be concerned about handling the complexity of your tax forms. This is especially true if you run a small business, work as a freelancer or have a “side hustle” in today’s gig economy. If you have investment accounts, inheritance or have made some changes in … Read more
Almost everyone wants to do everything they can to make sure they get the maximum tax refund possible. Whatever you may feel about paying taxes during the year, no one wants to leave money on the table by failing to claim deductions or credits to which you are entitled. Here are some tips that you … Read more
If you donate to charity, you can support some of your favorite causes and contribute to making the world a better place. In addition, you can enjoy a side benefit: Qualified donations to charity are tax-deductible. They can reduce your taxable income amount and, therefore, cut down on your final tax bill. To claim your … Read more
