Minimum Income Requirements: How Much Money Do I Have to Make to File Taxes?
It’s been a year of job changes and layoffs. Let’s discuss minimum income requirements and how much money you have to make to file taxes. Minimum Income Requirements & Tax Status Let’s get right to it. Not everyone has to file taxes, and the need to file is based on minimum income requirements. If you…
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Everything You Need to Know about Taxable Income
Are you just starting your tax journey? Have you been employed by someone else in the past and are now working for yourself as a small business owner, independent contractor, or freelancer? Did your side hustle take off? Let’s talk about taxable income. What is Taxable Income? According to Investopedia, taxable income is “the portion…
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5 Practices to Prepare for Tax Season Year-Round
Are you one of the millions of people who dread doing their taxes? Do you always want to put off filing until the very last minute? Here are some great practices to help you prepare for tax season year-round. Schedule Monthly Check-Ins A lot can change in one year. Jobs and income, family status, and…
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5 Legal Tips for Starting & Protecting a Small Business
It has never been easier to start your own business. There are thousands of websites, services, and resources available online for you. But it’s important to protect your business as you grow. Here are 5 small business legal tips for starting and protecting your new business. Protect Your Personal Assets It’s extremely important to separate…
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4 Tips for Last-Minute Tax Filing
2020 was crazy and 2021 is shaping up to be a very busy year. But one constant is the swiftness with which the tax filing deadline approaches. Here are some tips for last-minute tax filing. Beware of Common Errors So You Can Avoid Them In your rush to complete your taxes on time, it may…
6 Small Business Tax Credits
In a previous blog article, we covered everything you need to know about tax deductions. Today, we’ll talk about small business tax credits and offer some tips for taking advantage What Is a Tax Credit? A tax credit is a dollar-for-dollar reduction. NerdWallet explains “A few credits are even refundable, which means that if you owe…
I Received a CP01H Notice, Now What?
Have you received a CP01H Notice? In this article, we’ll discuss what that means and how to fix it. What is a CP01H Notice? If you receive a CPo1H notice, it means the IRS wasn’t able to process your tax return and they’ve placed a lock on your account because the Social Security Number of…