How Interstate Business Taxes Are Different
With the rise of remote work and online access to professionals across the country and the world, there has been a significant rise in interstate business operations and practices. But how does that affect your taxes and what do you need to know to stay on track? We can help. What is an Interstate Business?…
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The Versatility of 1099-NEC Deductions
There are several ways to take advantage of 1099-NEC deductions, and they’re not all related to independent contractor work. Let’s discuss the various deductions that can be recorded on Form 1099-NEC. The Main Deduction: Non-Employee Compensation 1099-NEC was recently reinstated in the tax code and process to differentiate non-employee compensation more clearly. If our business…
Tips for Reducing Your Business Tax Liability
Managing business tax liability is a great way to save yourself some money (or even procure a refund) at the end of the calendar year. There are several lucrative (and legal) ways to do that. Here are some great tips for reducing your 2022 business tax liability. How the Super-Rich Reduce Their Business Tax Liability…
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4 Best Tasks for Small Business Outsourcing
Outsourcing isn’t just for big business. Small business outsourcing takes a bit more strategy, however, and we wanted to share the best outsourcing tasks for your brand. Keep the autonomy of your small business but maintain a healthy work-life balance by choosing the best tasks to outsource in 2023 and beyond. When to Start Thinking…
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Breaking Down the ACA Forms
The Affordable Care Act forms are also known as Forms 1094 and 1095 – let’s get to know them a little bit better. ACA Forms: What They Are & What They Do The Affordable Care Act (where the ACA forms get their name) is a healthcare reform law that was passed in 2010. Its purpose…
How Student Loan Forgiveness Changes Your Tax Filing
What does the new student loan forgiveness mean for your taxes? In August 2022, President Biden announced a three-part plan that promises the cancellation of $10,000 in student loan debt for low- and middle-income borrowers. Here are the changes you’ll see this year regarding student loan taxes. Student Loan Forgiveness Isn’t New in the Tax…
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9 Federal Tax Refund Myths
Myths are pervasive in all areas of life, but federal tax refund myths are often based on misinformation and outdated knowledge. So let’s break down these myths and get to the truth behind them. Myths about the Refund Process There are tons of tax refund myths that center on the process of receiving that refund…