Category: Tax Planning

How to Protect Yourself from Tax Identity Theft

It can happen online or offline. Are you taking steps to protect your identity? As you work on your 2021 income tax returns, the IRS is still catching up...

Starting a Side Gig in 2022? Your New Tax Obligations

It’s not just self-employed individuals who must pay estimated taxes. Here’s what you need to know. W-2 income tax withholding isn’t perfect. You’ve probably had years when you owed...

17 Things You Should See On Your 2021 Tax Return

Some of them are new and others are extensions of previous changes. Here’s a look at what to expect. The Tax Cuts and Jobs Act of 2017 threw a...

Don’t Wait Until December: Year-End Tax Actions You Should Take Now

Unless you’ve been planning for 2021 taxes all year, it’s time to take actions that can reduce your IRS obligation. We’ve talked before about the importance of planning for...

How To Deal With a Past-Due Tax Return

“Better late than never” applies when it comes to filing income tax returns. Here’s what you should know. Maybe you didn‘t get your 1040 done in time in a...

Are You Tracking Absolutely All of Your Tax-Related Business Expenses?

If you’re self-employed, understanding what’s deductible and recording all of your business expenses should be priorities. When you work for yourself, accurate accounting is critical. The IRS pays special...

Hiring An Independent Contractor? Your Tax Obligations

First time hiring an independent contractor? Here’s what you need to know about taxes. Two months ago in this column, we explained the differences between employees and independent contractors....

Do You Need To File An Amended Tax Return? Here’s How

If you made an error on a tax return over the last three years, you can amend it by filing an IRS Form 1040-X. It happens more often than...

Why You Need Year-Round Tax Planning…

…and tips on how to do it. The IRS may have granted us a reprieve for filing our income taxes this year, but we hope you’re well into your...