Tax time can be extra taxing for the self-employed. What really do you count as income? What can you deduct as expenses? And why do you have to pay self-employment tax? Here are a few tax tips to help you prepare your self-employed tax return. 1. What is Self-Employment Income? Self employment income can be […]
What To Do When You Can’t Pay Your Taxes
April 15th has arrived, and you don’t have enough money to pay your taxes. What are you going to do? First of all, don’t panic. You are not alone. Every year thousands of people come up short when it comes time to pay the IRS. Here is what you can do when you can’t pay […]
Tax Deductions for Your Online Business
Last year I wrote a post called 101 Tax Deductions for Your Online Business. I was looking it over today, and thought I would point out a few of my favorites. #10. Business related webinars and seminar fees. This is one of my all time favorite deductions, because I love to travel, and I love […]
What To Do If You Have Unpaid Back Taxes?
Tax time is here! It is bad enough just needing to file one tax return, but what if you have unfiled back tax returns and unpaid taxes? Having unfiled tax returns can be very stressful. The IRS can make your life miserable. They can garnish your wages, put a lein on your house, and even […]
Are You Still Asking- Where is My Stimulus Payment?
Hi There! Click here for Information on the 2020 Stimulus Payments. This post is an old post on the 2008 rebate checks. Have you filed your 2007 tax return, (even if you don’t normally file), waited at least 6 weeks, yet you still haven’t received your stimulus payment? It sure could come in handy this […]
IRS Standard Mileage Rate Raised
Recognizing that the sky rocketing gas prices may be making driving more expensive, the IRS has dramatically increased the standard mileage rate for business miles. When calculating deductions for business auto use, taxpayers can use either actual expenses, or the standard mileage rate. The mileage rate takes into consideration not only fuel prices, but maintenance […]
Where is My IRS Stimulus Payment?
You might actually be looking for Q&A on The 2020 Stimulus Payments. This post is an old post on the 2008 rebate checks. It is interesting to see the differences! The IRS Stimulus payments are going out. Most single people are getting $600, married couples are getting $1,200 and there is an extra $300 per […]
You Won’t Be Getting a Tax Rebate Check
Henry Paulson, the Unites States Treasury Secretary announced on Friday that Congress has approved the $167 billion, debt financed, Economic stimulus package, and that the IRS will be working through the tax season in order to send out the “rebate” checks starting in May of 2008. I hate to break the news to everyone, putting […]