Tax Tips

pFor freelancers and self-employed professionals, managing taxes independently represents a significant shift from traditional employment.

pspanFew things produce the kind of stomach-drop feeling that a letter from the IRS does. For most small business owners and individuals, the word audit lands somewhere between unsettling and terrifying, even when the return was filed carefully and the numbers are completely accurate.

pspanUnderstanding how money moves in and out of a business is easier when the accounting method matches the way the business actually operates. Many individuals and small business owners start out with basic tools, track income as it hits the bank, and record expenses when they’re paid. It feels simple and familiar.

pspanYour first year of freelancing probably felt liberating. No boss, no commute, just you and your laptop making things happen. Then tax season rolled around and you got hit with a bill that made your stomach drop.

pspanDivorce changes almost every part of life—your routines, your relationships, your finances, and often, your sense of direction. Amid the emotional and logistical toll, it’s easy to overlook how significantly a divorce can also change your tax situation.

pspanLosing someone close to you is never easy. The grief comes in waves, often when you least expect it. And just when you're trying to navigate those emotions, you're handed a pile of paperwork and deadlines—many of them involving taxes. Few people are prepared for that moment, yet it’s one most families will eventually face.

pspanFew things create as much anxiety among taxpayers as the possibility of an IRS audit. However, the reality of audits is often far less alarming than you might assume.

pspanDid you know it’s possible to make your vacation time tax deductible? But before you drag down the suitcases from the attic and pack the family SUV, you should know the legalities of doing this to comply with the IRS.

pBeing married brings many advantages besides having someone to help fold the laundry or comfort you when you’re having a rough day. Tax benefits are another benefit, although people don’t get married to save on taxes, thankfully.

pFailing to file your taxes for several years can feel overwhelming. Whether you missed deadlines due to life circumstances, a misunderstanding of tax obligations, inability to pay your tax liability or simply procrastination, you may be worried about the consequences of not filing.