I get asked this question regularly, how to prepare your taxes as a content creator? Social media content creators such as YouTubers, Bloggers, and UGC creators, while not relatively new, have become an exciting profession for most people. Consequentially, these individuals may now qualify for certain deductions and credits because they are categorized as self-employed by …
The difference between Tax Avoidance and Tax Evasion comes down to one word, Legality. Starting with the “Tax Gap” we can use this to understand the impact of not paying your taxes. The tax gap is the gross difference between the tax liability for a given year and the amount of taxes paid on time. In other …
As the country continues to open back up, many business owners and entrepreneurs may see the need to become mobile again. Unlike personal travel, business travel expenses could help business owners to maximize their tax deductions. To understand the many ways in which proper planning can help business owners, let’s first define “business travel expenses.” …
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Tax Season is often a time for panic for both businesses and individuals. Whether you’re determined to file your taxes yourself, or would rather have a tax professional do it, knowing what documentation you’ll need can save you lots of stress. For business owners who have already navigated the process of starting a successful business, …
In this blog, I will break down the factors to consider when you are in the process of starting a new business or revisiting the idea of a previous one. When it comes to setting up a new business, most business owners fail to analyze the tax responsibilities that will eventually surface after their business …
6 Things To Consider When Starting A New Business Read More »