1-800Accountant Blog

california-small-business-tax

How to Deal with Small Business Taxes in California

Filling out the federal tax return for yourself or your business can be hard enough, but you’re not finished until you’ve handled state taxes as well. Each state has its own unique rules and regulations for taxes on small businesses. A few states don’t have an income tax for you to worry about, but California […]

rideshare-driver-tax-deductions

Uber and Lyft: Best Tax Deductions for Rideshare Drivers

Each Lyft and Uber driver has to file their own tax return as an independent, self-employed individual. Some recent California laws have mandated that rideshare companies employ drivers directly. However, until other states do so as well, individual rideshare drivers are independent contractors.  That means each Uber driver essentially represents their own small business. This […]

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Capital Gains Tax: What to Know When Selling Rental Property

Maintaining rental properties is a great way to earn passive income. Furthermore, many rental property owners choose to sell their properties, usually making a profit in the process. While selling a rental property can earn serious gains, sellers must understand how capital gains taxes will affect their sale.  Here’s what you should know about capital […]

rental-income-taxes

Real Estate: How Rental Income is Taxed

Rental income is one of the most important parts of real estate. Many landlords may not realize that there are several ways to make rental income beyond collecting rent checks. Rental income comprises more than just direct income from tenants. Here’s what you should know about the different types of rental income and how it […]

florida-small-business-tax

What to Know About Small Business Taxes in Florida

Florida is one of the most business-friendly states in the country. While its economy and industries attract small businesses, it is also a tax-friendly state for small businesses. If you are looking to start a small business in Florida, you’ll want to know about taxes. Here’s what you should know about small business taxes in […]

biden-tax-plan

Understanding President-Elect Biden’s Tax Plan

Joe Biden’s tax plan will inevitably go through some changes in its path through the legislative process until it actually takes effect. Still, we can get a sense of Biden’s priorities by imagining what the tax plan would look like according to the tax policy proposals the Biden-Harris campaign has released.   Biden’s tax plan affects […]

need-file-irs-tax-extension-year

Do I Need to File an Extension for My 2020 Taxes?

At times, it can be tough to keep up with the clock’s fast-moving hands and the constantly turning pages of a calendar. Things may be moving so fast in your life and business that you are caught totally unprepared when tax season comes around.  The truth is that tax preparation is a year-long endeavor. Careful […]

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Four Ways to Create a Better Home Office Space

The coronavirus pandemic has forced more people than ever before to work from home. For some that might be a dream come true, but not everyone adjusts well to working remotely.  People who work regularly from home might already have an established workspace, but many people during this crisis have had to improvise. Some might […]

form-1023

Form 1023: The Key to Becoming a Tax-Exempt Organization

If your non-profit organization has yet to request tax-exempt status, you’ll need to learn more about Form 1023 (also known as the Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code.) When successfully filed and accepted, Form 1023 grants exemption from federal income tax, crucial for nonprofit organizations.  What Is Form […]

how-to-fill-out-form-1040

Taxpayer’s Guide for Completing Form 1040

From sole proprietors to nine-to-fivers, most taxpayers have to tackle Form 1040 when tax season strikes. If you embody a do-it-yourself spirit, follow along with this step-by-step guide. However, you can always get a hold of us and we’ll be more than happy to conquer your taxes. Step 1 – Determine Which Form You Need to Fill […]