Prior to the 2018 tax year, when you filed your personal income tax return with the IRS, you had a choice of three basic tax forms to select from: Form 1040, Form 1040A, and Form 1040EZ. The one you u…

Going to be late filing your personal or business tax return this year? Maybe you had an illness or family emergency. Maybe you don’t have all the documentation you need, or maybe your business is goi…

The key advantage for forming an S corporation is the considerable savings from self-employment taxes. S corporations have many more rules and regulations than other entities. If you are an S corporat…

Schedule C determines whether your business income is a profit or a loss. Completing a Schedule C will require a lot of documentation, and it comprises several parts. You may learn that if you complet…

First enacted in 1939 in the aftermath of the Great Depression, the Federal Unemployment Tax Act (FUTA) was established to support involuntarily unemployed individuals. Imposing an unemployment tax on…

Here are a few tax tips you might consider before the end of the year, which could potentially reduce your taxes when Uncle Sam comes knocking in April. Generally, you want to lower income and acceler…

If you’re a small business owner, you may want to review your business tax situation well before December 31 to determine what strategies you can implement to minimize your tax liability this year. Th…

While it can be quite rewarding to prepare delectable edibles for hungry consumers looking for a quick bite to grab, there are several IRS tax rules you must understand to successfully run a food truc…

We are surrounded by technology that makes our lives so convenient. But can you write off these tech items when filing your return with the IRS? The answer is “yes” in some cases. Here’s why