If you've recently made the switch from W2 employee to 1099 contractor, you may still be struggling with the reality of quarterly estimated tax payments and full responsibility for FICA payments. Even if you're earning a higher hourly rate than you did as an employee, you may feel that you have less money in your account at the end of each month—and being hit with a hefty tax bill (or penalties) when you're accustomed to getting a refund can be an even bigger sting.
24 February 2017
When you work as an entrepreneur, you likely have an accountant take care of your tax preparation. The assistance of an expert increases the likelihood that you'll be able to use all the write offs available to you and pay as little in taxes as possible. Your accountant may be managing your paperwork at tax time, but he or she can't do it alone. Part of the way that you can lend a hand is to provide your accountant with a tidy set of business-related receipts that you've accumulated throughout the year.
24 February 2017
While most people don't look forward to the actual process of doing their income taxes, the resulting refund can be a big help for taxpayers and their families. But, before you start spending that money in your head, here are a few great options to save it for the future instead. Direct Deposit When completing your tax forms, be sure to have handy your bank account number and ABA routing number.
18 January 2017