Why You Should Hire a Tax Pro
On the fence about hiring a tax professional, buying tax prep software, or just filing taxes yourself? Let’s compare them! Pros and Cons of Tax Prep Software Tax preparation software is a great way to do your own taxes in a way that offers subtle guidance. So let’s talk about the pros and cons. The…
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Interesting Tax Facts
Just as there are tons of weird and interesting laws in place all over the world, there are also tons of interesting tax facts! We’ve collected a list of facts from the US and the world. Use this fun knowledge to shock a friend or impress a colleague. Historical Tax Facts Lady Godiva took her…
Smart Ideas for Spending Your Tax Refund
As of May 6, the IRS reported they are holding 29 million tax returns, which means many Americans are still waiting for their refunds. So let’s talk about some smart ways to spend your refund when it comes. Invest in Your Side Hustle or New Business Many people created side hustles in 2020 or started…
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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 Tax Hacks for Small Businesses
Running a small business is an Olympian feat, so why not take the easy road on some of those complicated tax items? Here are some great tax hacks for small businesses. Pay Attention to the Tax Calendar One of the easiest ways to save money on your taxes as a small business is to make…