Woman vlogging as a side hustle.

Hustling for Extra Income – Don’t forget the taxman!

From supplementing their current income to replacing income that was lost because of layoffs, the pandemic or other reasons, many people have started side hustles over the past 2 years to help make ends meet. If you currently have a side hustle, don’t forget about the tax implications of earning extra money. Here are several

Person checking their personal bookkeeping for their taxes.

Start Your Tax Planning NOW!

Keeping your taxes as low as possible requires paying attention to your financial situation throughout the year. Here are some tips for getting a head start on tax planning for your 2022 return: Check your paycheck Now is a good time to check your tax withholdings to make sure you haven’t been paying too much

A person buying something online on their phone

Tax Consequences of Virtual Transactions

As social distancing turns convenience into a necessity, the number and types of activities moving to the internet are exploding. It’s important to remember that these virtual events often trigger real-world tax implications. Here are some things to keep in mind: Internet marketplaces Proceeds of sales of goods and services on internet marketplaces can be

Business owner who is the sole proprietor of his business.

The Benefits of Being a Sole Proprietor

Many start-up businesses move from hobby status to a business when they start to make a profit. The tax entity typically used is a sole proprietorship. Taxes on this business activity type flow through your personal tax return on a Schedule C. This business form has many benefits. Here are some to consider: You can