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Tax Tips

Estimated Taxes: How They Work And When To Pay

For many taxpayers, their income is subject to withholding, which means taxes are automatically withheld. However, this is not the case for a certain category of taxpayers. Learn all about estimated tax, and who need to pay, in this easy guide. Read more

Carol Nachbaur
Tax Tips

Business Meals and Entertainment Tax Deduction

As of December 27, 2020, IRS regulations surrounding business meals and entertainment expenses were adjusted for the next two years; 2021 and 2022.  Meals which include beverages are now fully deductible. So, what other things are fully deductible over the next two years? Read more

Carol Nachbaur
Tax Tips

What is a SIMPLE IRA plan? - Everything You Need to Know

Savings Incentive Match Plan for Employees (SIMPLE IRA) is an easy way to offer retirement savings plans to employees. As a result of complexity and cost, many small businesses do not provide their employees with retirement plans. SIMPLE IRA plans are similar to 401Ks without the hassle. Learn all about these tax-deferred retirement plans in our guide. Read more

Carol Nachbaur
Tax Tips

Are Services Subject To Sales Tax?

Because of the shift from manufacturing to services in the United States, many states now charge a sales and use tax on services. There are still many businesses that provide services that are unaware of these changes. Learn which services are subject to sales tax here. Read more

Carol Nachbaur
Tax Tips

The Difference Between Federal and State Tax IDs

To file taxes and perform a range of tasks, a tax ID is necessary. The confusing aspect of tax ID is when a business owner is caught between the two available options; to get a federal or state tax ID. Learn the difference between the two here. Read more

Carol Nachbaur
Tax Tips

Do you have to pay taxes on sports betting?

Participating in sports betting can be exciting, satisfying, and financially rewarding. While paying taxes on your winnings isn't any of those things, it is necessary. Learn the why, when, and how of paying taxes on your sports bets and gambling income in this guide. Read more

Carol Nachbaur
Tax Tips

How to File Taxes as a Self-Employed Hair Stylist

Self employed hairstylists have the freedom to run a successful business, but they need to be aware of their tax obligations. In this article, you will find important tax tips that can help you to file a return and receive your maximum refund.  Read more

Carol Nachbaur
Tax Tips

Schedule SE: Easy Guide to Filing Self-Employment Tax

In addition to paying income taxes on their businesses profits, self-employed individuals must also pay self-employment tax, using Schedule SE. Find out how to use Schedule SE to calculate self-employment tax and report it on your personal tax return with this guide. Read more

Carol Nachbaur
Tax Tips

What is the Difference Between Taxes, Duties, and Tariffs?

Taxes, duties, and tariffs are commonly termed the same thing and are often used interchangeably. While they are all forms of charges, the application is different. Learn the difference between all three in this simple guide. Read more

Carol Nachbaur

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