Getting audited by the IRS can feel extremely stressful and overwhelming. The IRS is meticulous when reviewing questionable tax returns. We want our clients to be honest and informed when reporting to the IRS. We know sometimes audits are unavoidable and we are here to help if that ever happens. In …Read More
We understand that filing an extension for your tax return can seem overwhelming. Do not worry we are here to help! The most important thing to remember is that you must request the extension by the regular due date of your return to avoid any penalty fees. We suggest filing the extension a few days…Read More
It is so important to understand and correctly apply the rules for classifying a worker as an employee or as an independent contractor. The relationship between the worker and the employer determines if an employer must withhold income taxes and pay Social Security, Medicare taxes and unemployment t…Read More
Who is Self-Employed? You are most likely self-employed if any of the following applies to you: If you perform a trade as a sole proprietor or independent contractor If you are a member of a partnership that performs a trade or business You are otherwise in business for yourself, including part-time…Read More
When hiring a nanny, most parents (like myself) focus on things like how well will they take care of my kids, do they do laundry, like to cook, etc. However, you need to remember that most likely when you hire a nanny, you need to know the how and when do you pay and withhold taxes (such as Social…Read More
Highlights from the CARES ACT (Coronavirus Aid, Relief and Economic Security Act) There is a lot of information (and misinformation) circulating about the CARES Act. We know how uncertain these times are and want you to have the most up to date and relevant information concerning your finances in th…Read More
What are the SBA Loans that every small business is talking about right now? There are two big ones out there – both created from the CARES Act. The Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP). The EIDL's intent is to provide immediate relief to help the temp…Read More
COVID-19 has impacted the US in ways most of us have never dreamed. For me personally, I never thought I’d be working from home, while my husband is downstairs homeschooling our kids (all in the midst of the craziest time of year for us – tax season). The federal government is taking action to e…Read More
There is a lot of talk on the news, social media and through heresy about the tax reform (some good, some bad). Are you confused? I don’t blame you. I’m here to unravel this complex new tax law with you. At the end of this article, I’ll also let you in on a little secret that I noticed…Read More
