Square Bear Tax

Are Uber drivers employees of the company or are they independent contractors? Interesting question. Why does it matter? Because it’s going to affect how you file your taxes (if you drive for Uber, Lyft, or any ride-sharing company). ... Dive into this short post to discover how the IRS views ride-share drivers and what is expected from them come tax time. SWIPE to begin. Have you booked your 2021 tax appointment? Send us a DM or give us a call. #uber #lyft #ridesharedriver #ridesharecodes #uberdriver #chevrolet #toyota #TaxTipTuesday #businessowner #taxreturns #startup #taxservices #smallbusinessowner #taxoffice #taxseason #accounting #incometax #entrepreneur See more

Doing anything for the first time can be pretty confusing. Therefore, it’s no surprise that the process of filing your taxes for the first time has got you stumped. Fear not! It isn’t that complicated. ... Read this post to discover the simple steps to filing your first tax return. SWIPE to begin. Have you booked your 2021 tax appointment? Send us a DM or give us a call. #accounting101 #accontingandfinance #accountingservice #bookkeeperwithpersonality #bookkeepingservice #taxtip #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxes2020 #taxessuck #taxesgovaz #businesstaxes #taxesdone #payrolltaxes #taxpro #taxproffesionals #taxproelite #personaltaxes #corporatetaxes #usataxes #payyourtaxes #taxesseason #taxesarefun See more

Having a Tax Preparer could make your life a whole lot easier. They could help you save time and avoid stress. But you’re going to have to meet your Tax Preparer halfway- by providing them with certain documents they’ll need to prep your taxes. ... Do you know exactly which documents your tax preparer would need? Read on and find out. For a free tax consultation, Hit our DMs! #success #finance #entrepreneurship #taxdeductible #taxbenefits #taxdeductions #taxoffice #taxstamp #taxseason2020 #money #business #entrepreneur #financialfreedom#taxaccountant #taxpro #taxfree See more

After days of uncertainty, President Donald Trump on Sunday night signed the $900 billion pandemic relief package that had passed Congress after months of negotiation. Now that Trump has signed the Congress-approved plan for $600 stimulus checks per person, not everyone is eligible. Who are they?... #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

President Donald Trump signed on Sunday evening a $900 billion pandemic relief bill into law that includes enhanced unemployment benefits and direct cash payments. The package sends direct stimulus payments of $600 to individuals, half the amount provided in the first round of checks, which went out in the spring. Eligible families will receive an additional $600 per child -- which is $100 more than Congress gave families in the first round of relief last spring.... The payments start phasing out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 will not receive anything. The income thresholds are doubled for couples. The amounts will be based on 2019 incomes. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

May the new year be only about prosperity and profit! You work very hard and deserve all the best. Happy New Year... #celebration #jan #newmonth #newyearscelebration #covid #newyearsparty #taxtime #taxes2020 #taxes #taxpro #taxpreparer #newyearsday #newyearsresolution #stimuluschecks #taxseason #newyear #happynewyear #love #instagood #happy #newyears #fashion #party #photooftheday See more

Taxpayers generally must deduct a loss under Section 165 in the tax year the loss occurs, but under Section 165(i) may elect to deduct a loss attributable to a federally declared disaster in the preceding tax year. If so, then is COVID-19 tax loss a qualified disaster loss? SWIPE to find out.... #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

To encourage more charitable giving in 2020, the CARES Act provided some additional tax relief for donors. This makes it easier for Americans to give and save at the same time. SWIPE to know about this relief if you made donations in 2020.... #charitablegiving #donations #charitablegiving #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

When people file their 2020 taxes next year and they weren’t eligible for an Economic Impact Payment this year, they may be eligible for the Recovery Rebate Credit. The Recovery Rebate Credit is figured like the Economic Impact Payment, except the amounts are based on tax year 2020, instead of tax year 2019 or tax year 2018, information. SWIPE to know who qualifies for the recovery rebate credit.... Have you booked your 2021 tax appointment? Send us a DM or give us a call. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Tracking your expenses could help you save money at tax time. But it's essential that you keep receipts and documentation to back up each expense and justify your deductions if necessary. How do you keep all those little bits of information organized?... 1The first habit to get into is making a small note of the business purpose on the receipt. 2Go paperless by skipping the bulk files and boxes by organizing your receipts electronically. 3The next step is getting it organized by category. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips101 See more

More than half of taxpayers hire a professional tax preparer when it’s time to file a tax return. There are various types of tax preparation professionals, along with various levels of experience and appropriateness to an individual's personal tax situation. Here is an overview of the various types of tax preparation professionals.... SWIPE to know your options. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Donations to qualified charities are tax-deductible expenses that can reduce your taxable income and lower your tax bill. One nice benefit that has flown under the radar in the CARES Act this year, as part of the Federal Government’s pandemic relief program, is that individual taxpayers can take a tax deduction of up to $300 for cash donations made to qualified charities in 2020 when they file their 2020 tax returns in 2021. So how can you be sure you're donating to... a Tax-Exempt Organization? SWIPE to find out how. #TaxDiva #BlackOwnedBusiness #VirtualTaxService #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips #IncomeTax #taxadvice #TaxSeason See more

Thank you for the great business we did together this year. Now’s time for us both to relax and celebrate. Wishing you a Merry Christmas and a Happy New Year.... #christmastree #love #xmas #christmasdecor #merrychristmas #christmastime #christmasgifts #christmasspirit #christmasiscoming #christmasdecorations #christmaslights #christmasgift #christmasmood #christmas See more

As a small business owner, you’re not only responsible for your individual income tax based on how much money you make, but your business may also have to file a return and pay taxes, depending on the legal structure of the company. There are federal taxes, state taxes, and in some cases, taxes for the city or municipality where you’re based. The kind of business you’re in will also affect the type of taxes you’re responsible for, as will whether or not you have emplo...yees. A certified professional accountant is your best source of information for your particular situation, but here’s an overview to get you started. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

As long as they’re doing legitimate work for your business, you can hire your kids and pay each of them up to $12,000 per year tax-free. IT’s true. And all of this while they earn a little money AND start saving for college or that first business. And it’s all tax-free. You can hire your kids and pay each of them up to $12,400 per year tax-free. ... If you hire your son to stuff envelopes and your daughter to update your website then you get to lower your personal income by $24,800! Simply by engaging your children in the family business. If they stay under this limit, they don’t even have to file a tax return, which means they don’t pay any income tax on it. And you get to deduct their wages, which lowers your business’ taxable income. #TaxDiva #BlackOwnedBusiness #VirtualTaxService #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips #IncomeTax #taxadvice #TaxSeason See more

While many employees are finishing up filing W-2s or 1099 forms for taxes, some may find themselves in a unique situation - that is, being self-employed. Whether you have your own business, are an independent contractor, or work as a freelancer in a variety of vocations, you will have to do your taxes a bit differently - namely, filing a self-employment tax. SWIPE to find out what actually is the self-employment tax, and how does it work?... #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Many people view budgeting as a restriction on their way of life, but that is completely wrong. Your budget should always contain a category for fun and recreation. If you restrict yourself too much, you will start to resent budgeting, and eventually develop an allergic reaction to it. You need to have some fun. So, set aside a reasonable amount of money each paycheck, and feel free to spend it on anything that brings you joy!... By operating within your fun money budget, you can spend money guilt-free, and be confident that you aren’t harming your financial future by doing so. #budgetgoals #budgetrenovation #budgetshopper #budgetinsta #budgeting101 #budgetingisfun #budgetingtools #budgetingbasics #budgetingforbeginners #budgetinghelp #budgetingtip #budgetingskills #budgetingplan #budgetingplanner #budgetinglifestyle #budgetingisbaelive#taxprep #taxlaw #taxaccountant #taxpro #taxfree #taxdeductible #taxbenefits #taxation #personaltaxes #businesstaxes #taxes #taxtips #taxpreparer See more

THIS IS THE TIME of the year many taxpayers are thinking about filing their taxes to get their tax refunds. Nearly 72% of taxpayers received a tax refund last year, and the average direct deposit tax refund was close to $3,000 last tax season, according to the IRS. However, some filers may feel like their refund was a little low.... Whether you received the tax refund you deserved or think you could have gotten back more last year, here are eight tips to help you maximize your tax refund this year. SWIPE to explore. #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

Many people are constantly pursuing happiness without realizing that while they’re occupied with the chase, they may be missing out on things that would make them happy. Don’t make a conscious effort to find happiness as it cannot be forced. Be patient and work diligently in accomplishing your tasks and you will see happiness comes naturally. Don’t make happiness your aim, make it your guiding principle. ... In fact, happiness itself is a part of your perspective where one person’s happiness may not be sufficient for another. #thetaxdiva #motivation #fitness #inspiration #love #life #instagood #quotes #lifestyle #success #motivationalquotes #workout #instagram #gym #goals #christmaseve #christmasseason #christmasspirit See more

CLAIMING qualifying dependents on your taxes can save you thousands of dollars. But who qualifies? This is one of the top tax questions every year since it can be difficult to apply the rules to different living situations, especially with the changing dynamics of families. If you need help deciphering whether your son at college, a cousin who stays with you for the summer, or the new family pup qualifies as dependents, we'll break it down for you.... SWIPE to begin #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

There’s a federal tax credit for part of the cost of making qualified energy-efficient home improvements. With the residential energy efficient property credit, homeowners can claim 30% of the cost of alternative energy equipment (including installation). Solar hot water heaters, solar electric equipment, wind turbines, and fuel cell property are examples of eligible equipment.... If you plan to make such improvements in 2020, hang onto your receipts. #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

It is important to find a tax preparer with the knowledge and experience to prepare your returns correctly. How do you find one? SWIPE to learn how.... #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips#christmaseve #christmasseason #christmasspirit See more

Setting aside money for Junior’s tuition can shave a few bucks off of your tax bill, too. A popular option is to make contributions to a 529 plan, a savings account operated by a state or educational institution. You can’t deduct your contributions on your federal income taxes, but you might be able to on your state return if you’re putting money in your state’s 529 plan. ... Be aware, too, that there may be gift tax consequences if your contributions plus any other gifts to a particular beneficiary exceed $15,000. #taxplanning #money #taxhelp #taxadvice #business #college #collegefunding #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

A limited liability company is a special business structure that can choose how it wants taxes determined. LLC member-owners may elect to have the taxes passed to owners, like a partnership. Or an LLC can elect to file taxes like a corporation. ... As the Internal Revenue Service allows an LLC to elect how its tax method based, members should review both scenarios before making a decision. SWIPE to explore the available options to help you file your LLC taxes. #payrolltaxes #personaltaxes #corporatetaxes #usataxes #taxesseason #taxesarefun #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #llc #refundadvance #refundseason #refunded #refundchecks #taxessimplified See more

The life they say isn’t easy. Sometimes your tasks and challenges will be small, sometimes they will be big. Some may even scar you emotionally but what matters is how much you are willing to rise up from these setbacks and learn from them to be a better and stronger person. Such tests of time are like a battlefield and the courageous rise from the battle even though they have scars on their bodies. ... Similarly, cry if you must, be unhappy if it is the emotion you feel at the particular moment but never let it grab hold of you, shrug it off and move on. #thetaxdiva #motivation #fitness #inspiration #love #life #instagood #quotes #lifestyle #success #motivationalquotes #workout #instagram #gym #goals See more

The QBI deduction is for business owners. It can be up to 20% of qualified business income (QBI), minus net capital gain. The deduction can be taken in addition to the normally allowable business expense deductions. It’s for pass-through business owners who pay business taxes on their personal tax returns, but not for corporations.... It may be limited or not applicable for higher-income individuals. This deduction is in effect for tax years 2018 through 2025. #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

Everyone in business must keep records, especially records that will come in handy when it's time to think about taxes on the business. Good records can help your business in a variety of ways, from monitoring your business's financial help in preparing your taxes correctly. Here are essential recordkeeping tips to aid you in filing your 2020 taxes next year.... SWIPE to get started. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

This FSA with a twist is another handy way to reduce your tax bill if your employer offers it. The IRS will exclude up to $5,000 of your pay that you have your employer divert to a Dependent Care FSA account, which means you’ll avoid paying taxes on that money. That can be a huge win for parents of kids under 13, because before- and after-school care, daycare, preschool, and day camps usually are allowed uses.... Eldercare may be included, too. What’s covered can vary among employers, so check out your plan’s documents. #payrolltaxes #personaltaxes #corporatetaxes #usataxes #taxesseason #taxesarefun #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #llc #refundadvance #refundseason #refunded #refundchecks #taxessimplified See more

The idea of a side hustle is very appealing find something you can do to earn a little money on the side. A side hustle can create diversity in your income stream and, with a little bit of luck and lots of hard work, could become something you do full time. Even if it doesn’t, an extra hundred dollars each month can go a long way.... But when it comes to tax season, the Internal Revenue Service might not see your side gig the same way. Is your activity considered a hobby or actual business? Does it matter? Here’s what you need to know before sending off your tax returns. SWIPE #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Health Savings Accounts (HSAs) are available to members who enroll in a high deductible health plan (HDHP), are enrolled in Medicare or another health plan, and are not claimed as a dependent on someone else’s federal tax return. The health plan passes through a portion of the health plan premium as a deposit to the HSA each month. The pass-through contribution amount is different for a Self Only enrollment than for a Self Plus One or Self and Family enrollment. ... You have the option to make additional, voluntary taxfree contributions to your account, up to the maximum established by law. #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

If you have mutual funds and stocks, keep an eye on their performance during 2020. Selling some securities at a loss by year-end to offset capital gains may help reduce your taxes for 2020. It’s called tax-loss harvesting. ... But honestly, it’s complicated. Consult a financial professional for guidance on this tactic #taxprep #taxlaw #taxaccountant #taxpro #taxfree #taxdeductible #taxbenefits #taxation #personaltaxes #businesstaxes #taxes #taxcollection #taxrefund #taxtime #taxtips #taxpreparer See more

Individual taxpayer identification numbers are used by taxpayers who have tax filing or payment obligations under U.S. law but who are not eligible for a Social Security number. People with expiring individual taxpayer-identification numbers should renew their numbers ASAP. This will help avoid unnecessary delays related to their tax refund next year.... Which ITINs will expire this year? SWIPE to find out. #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

Dreams with open eyes are your deepest desires. Dreams are where reality does not rule. They are the world where you truly live. There are no boundaries, no limitations to pull you back. You do all that you always wanted to do but could not. They also give you a vision and a blueprint for planning. ... Those who do not dream of achieving something are as good as animals just surviving from day to day. When you dream with your eyes open, you inspire yourself to convert your dreams into reality. #thetaxdiva #motivation #fitness #inspiration #love #life #instagood #quotes #lifestyle #success #motivationalquotes #workout #instagram #gym #goals See more

When you decide you want to start budgeting, you have a decision to make. Do you go with a traditional budgeting method, like an excel spreadsheet, or a handwritten budget? Or, do you pick a more modern method, like an appfor instance, EveryDollar or YNAB?... Whatever method you choose, stick to it for a long enough time to get in the habit of budgeting. Hopping from budgeting method to budgeting method will only make your life more difficult, and act against your success. #budgetgoals #budgetrenovation #budgetshopper #budgetinsta #budgeting101 #budgetingisfun #budgetingtools #budgetingbasics #budgetingforbeginners #budgetinghelp #budgetingtip #budgetingskills #budgetingplan #budgetingplanner #budgetinglifestyle #budgetingisbaelive#taxprep #taxlaw #taxaccountant #taxpro #taxfree #taxdeductible #taxbenefits #taxation #personaltaxes #businesstaxes #taxes #taxtips #taxpreparer See more

Can I Have a 401(k) and an IRA? Yes, you can contribute to both a 401(k) and an IRA, but if your income exceeds the IRS limits, you might lose out on one of the tax benefits of the traditional IRA. #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro... #taxdeductible #taxation #taxdeductions #taxseason2020 See more

FOR MARRIED COUPLES, combining finances is a smart way to streamline expenses. But at tax time, couples face a tricky question: File jointly or separately? Knowing which status to choose married filing jointly or married filing separately isn't always cut and dry. However, figuring out which way to go can result in many tax benefits. ... SWIPE to explore the options. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips #marriage #love #wedding #bride #weddingday #weddingdress See more

Opportunity zones are one of the most powerful incentives ever offered by Congress for investing in specific geographic areas. In certain scenarios, not only can you potentially defer paying tax on gains invested in an opportunity zone until as late as 2026, but you only recognize 90% of the gain if you hold the investment for five years. Additionally, if you hold the investment for 10 years and satisfy the rules, you pay no tax on the appreciation of the opportunity... zone investment itself. If you’re worried about capital gains rates going up under a new administration, this may provide an excellent tax-free investment. There are more than 8,000 opportunity zones throughout the United States, and many types of investment, development, and business activities can qualify. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

The IRS offers several payment options where taxpayers can pay immediately or arrange to pay in installments. Taxpayers should not ignore a bill from the IRS because as more time passes, interest, and penalties accumulate. SWIPE to explore some ways to make payments.... #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

It is said that failures are the pillars of success but the fear of failure keeps us from doing many great things in life. We simply find excuses to delay our work for we find it too difficult for our capabilities. However, if our drive for success is strong, no setback is ever going to keep us from snatching our goals.... #motivationalquotes #motivationalquotesforlife #love #life #instagood #successfulblackwomen #theboss #bossbabe #bossbabes #motivationalquotesformonday #quotes #lifestyle #fitnessmotivation #financialfreedom #success #bosschick See more

Taxes are complicated, but if you get behind on paying them, things can get even more complicated and quickly. Here are some important facts you should know. #payrolltaxes #personaltaxes #corporatetaxes #usataxes ... #taxesseason #taxesarefun #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #refundadvance #refundseason #refunded #refundchecks #taxessimplified See more

If you pull money out of savings to buy something that doesn’t fit into your budget, you are essentially stealing from your future self. This is one of the most common mistakes for newbie budgeters. The good news is that there is a pretty easy solution to this financial pitfall; just separate your savings account from your normal bank.... Keeping your checking and savings accounts in separate financial institutions makes it inconvenient to steal from yourself. And a little inconvenience can be the difference between a secure and bright financial future, and financial life of struggle. #budgetgoals #budgetrenovation #budgetshopper #budgetinsta #budgeting101 #budgetingisfun #budgetingtools #budgetingbasics #budgetingforbeginners #budgetinghelp #budgetingtip #budgetingskills #budgetingplan #budgetingplanner #budgetinglifestyle #budgetingisbaelive See more

Tax hurts, as does doing your taxes. That’s a given. That’s why we use the word ‘taxing’ to describe something that is tiring and drains you. However, paying your taxes can also cost you more than it needs to. In some cases a lot more! ... This is the fundamental reason everyone needs a tax advisor and tax advice from professionals in legal tax assistance who can help you make taxation less ‘taxing’. SWIPE to explore some ways to make payments. #personaltaxes #businesstaxes #taxes #taxrefund #taxtime #taxtips #taxpreparer #taxprep #taxlaw #taxaccountant #taxpro #taxdeductible #taxation #taxdeductions #taxseason2020 See more

If you are among the taxpayers expecting a refund this tax season, hold off on the champagne for a moment: A big check from the IRS isn’t necessarily good news. Though there’s no denying the feel-good factor of getting a fat check from Uncle Sam, it means you’ve likely overpaid your taxes during the prior year.... A large refund from the IRS may seem like an advantage, but it isn’t the best or most effective use of your cash flow. You’re basically giving the IRS an interest-free loan. Seek the help of a tax professional to help you better plan your future tax situation. #taxprep #taxlaw #taxaccountant #taxpro #taxfree #taxdeductible #taxbenefits #taxation #personaltaxes #businesstaxes #taxes #taxcollection #taxrefund #taxtime #taxtips #taxpreparer See more

Like many professionals, teachers often pay for work-related expenses out of their own pockets. In most cases, these items can become valuable tax deductions for teachers. As a teacher, the tax deductions you claim back significantly improve your tax refund if you know what you’re doing.... SWIPE TO LEARN MORE. #teachersofinstagram #teacherlife #onlineclasses #usataxes #taxesseason #taxesarefun #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #refundadvance #refundseason #refunded #refundchecks #taxessimplified See more

As tax season approaches, many people start getting phone calls, emails, and text messages from entities claiming to be the IRS. The most important thing right now is to do not respond to telephone calls or emails from folks who pretend to be the IRS or the U.S. Treasury. Those organizations are never going to call you on the phone.... U.S. mail is the only way the IRS will correspond with you unless you go into litigation. The IRS website has a list of registered tax preparers to help you avoid dishonest professionals. #payrolltaxes #personaltaxes #corporatetaxes #usataxes #taxesseason #taxesarefun #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #refundadvance #refundseason #refunded #refundchecks #taxessimplified See more

The R&D tax credit is for taxpayers that design, develop, or improve products, processes, techniques, formulas, or software. It’s calculated on the basis of increases in research activities and expendituresand as a result, it’s intended to reward companies that pursue innovation with increasing investment. R&D doesn't have to be new to the industry. It simply needs to be new to the company, which must have activities that meet the four-part IRS test.... SWIPE to explore #payrolltaxes #personaltaxes #corporatetaxes #usataxes #taxesseason #taxesarefun #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #refundadvance #refundseason #refunded #refundchecks #taxessimplified See more

Discipline in any form is rigorous, monotonous, boring, and downright painful. It is distasteful enough to tempt you to quit your pursuits every morning before waking up. But the real achievers do get up and go through hell. ... They know that once they come out of this, they would be brighter than the shiniest diamond. The sharpest of swords go through the hottest of fires. The price you are paying now will pay you great dividends in the future. But not getting up at all and making any efforts will eventually lead to regret which will be more painful. #bossbabe #bossbabes #bosschick #motivation #fitness #inspiration #love #life #instagood #quotes #lifestyle #instagram #goals #believe #follow #positivevibes #motivationalquotes #motivationalquotesforlife #motivationalquotesaboutlife #motivationalquotesnow #motivationalquotesforwomen #motivationalquotesformonday #motivationalquotesnow #motivationalquotefortheday #fitnessmotivation #financialfreedom #success #successfulblackwomen #theboss See more

Your smartphone is on the Internal Revenue Service’s list of equipment you may write off as a business expense. As long as you use your smartphone mostly for business purposes, the IRS lets you deduct its purchase price and service fees. SWIPE to learn more.... #payrolltaxes #personaltaxes #corporatetaxes #usataxes #taxesseason #taxesarefun #taxtiptuesday #taxtipforentrepreneurs #taxtipsandtricks #taxtipoftheweek #tmobile #apple #refunded #samsungnote #iphone12 See more

As painful as taxes are to pay, not paying them is worse and illegal. When you start making money running your own business, talk to your accountant, and determine what percentage of the money you should allocate for taxes. Then, create a category for taxes in your company budget. ... You will likely be paying them each quarter as a business owner, so have the money set aside and ready to go. #budgetgoals #budgetrenovation #budgetshopper #budgetinsta #budgeting101 #budgetingisfun #budgetingtools #budgetingbasics #budgetingforbeginners #budgetinghelp #budgetingtip #budgetingskills #budgetingplan #budgetingplanner #budgetinglifestyle #budgetingisbae See more

You’ve probably heard a lot about IRAs, and how they’re an investment option for retirement. But what exactly is an IRAand is it the right choice for you? SWIPE to understand what they actually are.... #taxservicesonline #accounting101 #payrolltaxes #personaltaxes #corporatetaxes #usataxes #taxesseason #taxesarefun #taxpro #taxproblems #taxproffesionals #taxes2020 #retirementplanning #retirementsavings #retirementaccounts See more

The short answer is yes. But only if you meet certain criteria. The IRS has a somewhat loose definition of what a qualifying relative is when determining who can be claimed as a dependent on your taxes. Although the IRS uses the word relative, you’re still able to claim someone who isn’t related to you. ... To qualify, the person must meet criteria related to , , and . There is no longer a personal exemption deduction per dependent according to the new tax law. The taxpayer only gets a standard or itemized deduction. The standard deduction for a single person is $12,200 and a married couple filing jointly is $24,400. #taxplanning #money #relationshipgoals #taxadvice #relationshipactivities #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Tax schedules are another type of tax form you may be required to prepare and submit with your tax return when you have certain types of income or deductions. That can include income from interest, the sale of a property, or charitable contributions. Here’s a list of common schedules.... SWIPE to explore them. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

The bane of our lives is to live up to the expectations of the whole world, starting from our parents, to our teachers, our peers, and our family. It’s like the weight of the entire world is on our shoulders as everyone seems to have such lofty expectations from us. Once we fall into this trap of pleasing others, we are trapped for life. After trying all our life, we still manage to disappoint many of them. ... Thus, what is the need of pleasing everyone in the first place? Your duty is to yourself first. Be loyal to your dreams and aspirations and when you reap success, you’ll realize everyone is clapping for you. #taxseason2020 #successfulblackwomen #bosschick #motivation #taxconsultant #motivation #inspiration #love #lifestyle #success #motivationalquotes #inspiration #quotes #successquotes #successfulblackwomen See more

Hi there! If you are a single parent dealing with the complicated tasks of working and raising a family, there are some tax benefits and issues you should be aware of. SWIPE to explore them #taxplanning #money #taxhelp #taxadvice #business ... #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

The estate tax, levy on the value of property changing hands at the death of the owner, fixed mainly by reference to its total value. The estate tax is generally applied only to estates evaluated above a statutory amount and is applied at graduated rates. Who pays them?... SWIPE to explore. #taxplanning #money #realestate #taxadvice #estatetax #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Yes, there is a lot of free software out there, and historically someone who has a simple W-2 doesn't always need the extra cost of paying for tax preparation. However, as we are seeing more in recent years from TCJA, CARES, etc., it is worth the fee to build a relationship with a trusted tax advisor to give peace of mind by keeps up with the continuous changes, answering questions, how to get stimulus checks, seeking out business loans, and other referrals and planning o...pportunities. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Tax Day is upon us, and if you’re reading this chances are you’re still struggling with your taxes. Because most hairstylists are categorically self-employed, they are often a target for IRS audits. But fret not because we have you covered!... Below are some acceptable deductions for salons that will help you get more back on your taxes. #taxplanning #newhair #hairrelaxer #hairstylist #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #hairstyles #Money #businesstips See more

A simplified employee pension (SEP) IRA is a retirement savings plan established by employersincluding self-employed peoplefor the benefit of their employees and themselves. Employers may make tax-deductible contributions on behalf of eligible employees to their SEP IRAs. SEPs are advantageous because they are easy to set up, have low administrative costs, and allow an employer to determine how much to contribute each year.... You might not have the money until later in the year to fund a prior year contribution, but the government gives you six more months to do it just by filing an extension. This allows you (in normal years) to fund a SEP-IRA for the prior year as late as October 15 of the next year. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Romantic or not, taxes are a part of life. And now that you and your spouse are officially a part of each other's lives, you and your spouse can now change your filing status to married filing jointly. Here is a tax checklist for newly wedded couples.... #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips #marriage #love #wedding #bride #weddingday #weddingdress See more

If you sell a capital asset, such as real estate or shares, you usually make a capital gain or a capital loss. This is the difference between what it cost you to acquire the asset and what you receive when you dispose of it. You need to report capital gains and losses in your income tax return and pay tax on your capital gains.... Although it's referred to as capital gains tax (CGT), this is actually part of your income tax, not a separate tax. SWIPE to learn more #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Struggles and trials in your life will make your body and soul exhausted. It is bound to tempt you to give up and believe that all this hard work is not worth it, so just let it go. This is exactly why you need to stay firm and promise yourself not to rest. ... You should celebrate only after you are done with the task and achieve your aim. Only then the world will dance with you to celebrate your victory and you will bask in the glory of success with much-deserved rest. #taxseason2020 #successfulblackwomen #bosschick #motivation #taxconsultant #motivation #inspiration #love #lifestyle #success #motivationalquotes #inspiration #quotes #successquotes #successfulblackwomen See more

Travel expenses are among the most common business expense deductions. However, this type of expense is also one of the most confusing! When is the cost of a trip deductible as a business expense? How about conventions - particularly in other cities? ... Your travel must be primarily business-related in order to be deductible. Pleasure trips are never deductible. You can deduct travel expenses only if you are traveling away from home in connection with the pursuit of an existing business. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips #businesstrips #travel #businessmeetings See more

Withholdings are a percentage of your paycheck your employer sets aside to cover your taxes. We recommend adjusting your withholdings so you break even. You won't get a big refund from the IRS but you won't send them a huge check.... #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

Businesses of every size in every field use influencers to market their products and services. There are many ways influencers use social media for profit. Do social media influencers have to pay taxes? ... Typically, yes. As an influencer, you most likely work as an independent contractor for the companies you promote. Here are some great tax tips for social media influencers. SWIPE #taxseason2020 #successfulblackwomen #socialmediainfluencer #socialmediamarketing #influencer #socialmedia #digitalmarketing #motivation #taxconsultant #motivation #inspiration #love #lifestyle #success #motivationalquotes #inspiration #quotes #successquotes #successfulblackwomen See more

Tax deductions can be huge money-savers if you know what they are, how they work, and how to pursue them. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips

This is life in a nutshell for most of us. We are always worried about our future or past, day in and day out. The only way to break this vicious cycle is to live in the moment, right here, right now. ... This is the way God wants you to be. It’s good to cherish happy memories or make efforts to plan a better future but it’s toxic to regret what you couldn’t achieve or lose your present happiness and health in the worries of the future. Perhaps that’s why it’s called the present or a gift to us. #taxseason2020 #successfulblackwomen #bosschick #motivation #taxconsultant #motivation #inspiration #love #lifestyle #success #motivationalquotes #inspiration #quotes #successquotes #successfulblackwomen See more

The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate-income. EITC reduces the amount of tax you owe and may give you a refund. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file.... #investment #money #investing #bitcoin #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

As a sole proprietor, you must report all business income or losses on your personal income tax return; the business itself is not taxed separately. The IRS calls this "pass-through" taxation because business profits pass through the business to be taxed on your personal tax return. We have gathered a list of tax tips that are beneficial to sole proprietors.... SWIPE to explore them. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more

When it comes to investing, it's not just how much you make that mattersit’s how much you keep after taxes. The good news is you can exercise a good deal of control here. With a bit of tax planning, you can maximize the tax efficiency of your portfolio and help reduce the effect of taxes on your investments. ... Tax-efficient investing is important because you don’t get to live on your pre-tax returns, what you can actually spend is after-taxes dollars. #taxplanning #money #taxhelp #taxadvice #business #Taxpro #taxreturn #businesstax #taxtips #taxservices #TaxProfessional #businessideas #Finance #Money #businesstips See more