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A Basic Guide to Taxes for Freelance Writers and Self-Published Authors

An increasing number of Americans have either left the corporate world entirely or are supplementing their income by freelancing. There are many types of freelance work, but it’s important for those who are providing content, offering editing…

Mid-Year Tax Planning Checklist

All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that could reduce their tax liability or financially assist them. Mid-year is the perfect time for tax planning. The following…
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Tax Ramifications of Disposing of a Vehicle

If you are buying a new car, are you wondering what to do with the old one? You actually have a number of options, some of which have tax implications and some of which don’t. These options include trading the car in with the dealer, selling…
Hands with rings

Getting Married and Related Tax Issues

Most weddings planned for 2020 were delayed because of COVID, causing a big upswing in the number of weddings in 2021.  Although tax issues are the furthest thing from their minds during this big life-changing event, newlyweds should know how…
Retired Couple
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Minimizing Tax on Social Security Benefits

Whether your Social Security benefits are taxable (and, if so, the amount that is taxed) depends on a number of issues. The following facts will help you understand the taxability of your Social Security benefits. For this discussion, the…
Angry Couple

Taxes and Divorce

If you are recently divorced or are contemplating divorce, you will have to deal with or plan for significant tax issues such as asset division, alimony, and tax-return filing status. If you have children, additional issues include child support;…

Recordkeeping Tips to Keep the IRS Away

With the ever-increasing complexity of our tax system, it is commonplace for many small businesses to make mistakes with bookkeeping and filing. One way to avoid making errors is to be aware of the most commonly encountered pitfalls. Here are…
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Consequences of Filing Married Separately

Couples who are married on the last day of the tax year basically have two filing status options when filing their tax returns: either married filing jointly (MFJ) or married filing separately (MFS) returns. Generally, filing MFJ will produce…
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Running a Trading Business – and What it Means for Your Taxes

The average American taxpayer is not aware that people who officially qualify as running a trading business receive special tax treatment. Their income comes from the profit they make by trading options, equities and other asset classes, and…
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