January 15, 2012 – 9:46 pm
The career of a freelance writer can be very rewarding. However, the career can quickly lose its appeal when tax time arrives and you owe several thousand dollars. Thankfully, there are things you can do to reduce your tax bill and prevent owing such a large sum at once. The following are just five essential tax tips for freelance writers.
Pay Your Estimated Taxes
This cannot be stressed enough. Freelance writers need to pay estimated taxes in April, June, September and January of the following year. These payments will ensure that you don’t get penalized for paying your taxes late … Read more at 2009 Taxes
By Steve
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Also posted in Tax Law, Tax Preparation, Tax Relief
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Tagged essential, freelance, Freelancer, Itemized deduction, January, Small business, tax, tips, TurboTax, Writer, writers, Writers Resources
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October 11, 2011 – 11:40 am
In your early twenties it is hard to imagine that day when you can stop working for good. However, pensions have been big news recently and regardless of your age you should think about what kind of financial situation you want to be in come retirement.
How to go about setting up a pension
Setting up a pension will require some research as there are many different types of pension options. You should look at whether your company has a pension and also investigate pension schemes offered by outside agencies. In addition, don’t be afraid to go to a … Read more at 2009 Taxes
By Steve
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Also posted in Retirement Savings, tax credits, tax deductions, Tax Preparation, Tax Relief, tax returns
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Tagged Business, Investment, Pension, plan, ready, retirement, Retirement planning, roth ira, saving, TurboTax
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September 1, 2011 – 11:49 pm
Innocent Spouse Relief has always been available as a way for taxpayers who file joint tax returns and who were not aware, nor had any kind of reason to be aware, that her or his spouse had underpaid or understated their liability for income taxes. It was designed to offer the innocent taxpayer some protection from the faults of their partners and spouses and details of how it works were to be found in Publication 971 which was entitled Innocent Spouse Relief.
The regulations detailed in Publication 971 state that innocent spouse requests that are seeking relief from liability need … Read more at 2009 Taxes
By Steve
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Also posted in tax credits, Tax Law, Tax Relief
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Tagged Accounting, adjusts, Business, Douglas Shulman, Equitable remedy, innocent, Innocent (actor), Internal Revenue Service, irs, joint tax returns, Marriage, requests, rules, spouse, tax, Taxation, TurboTax, United States
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August 30, 2011 – 3:32 pm
More and more consumers are choosing to make purchases online today. Retailers lure them on line with web sites or even mobile apps for smart phones that compare prices and features on items from diverse sources. One selling point is that such transactions are usually free of state sales tax. In Massachusetts, though, that may not be the case for long.
Even as members of most committees of the legislature leave town for the summer break, the Committee on Revenue quietly sent legislation that would let Massachusetts start collecting sales tax on transactions that take place on the Internet. Supporters … Read more at 2009 Taxes
August 20, 2011 – 9:03 am
The recent economic recession has compelled a lot of people to seriously think about their financial condition, including their lives after retirement. With the uncertainties in the economy today, it is but logical to make sure you are putting all your resources to good use. Thanks to convenient retirement plans such as Roth IRA, you can now get some sleep.
Roth IRA is relatively a young retirement plan, debuting on 1997. It was patterned after the traditional IRA except that it provided more benefits to workers. Employees approaching the retirement age are greatly considering making IRA investments because it has … Read more at 2009 Taxes
By Steve
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Also posted in Retirement Savings, tax credits, tax deductions, Tax Law, Tax Preparation
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Tagged Florida, Individual Retirement Account, investmentsplanning, IRA, life, Pension, retirement, roth ira, Traditional IRA, TurboTax, United States
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Let’s face it: taxation laws can be complicated. The average person has limited knowledge of things like mergers & acquisition, San Diego tax laws, management consulting, San Diego business formations and much, much more. Even if you have filed your own taxes before and have never sought assistance, there are some scenarios in life where you may want to find a consultant to help you transition and prepare your taxes accurately.
1) You’ve started your own business.
If you have recently started your own business, congratulations! This is a huge accomplishment that can reap big rewards. However, there are a … Read more at 2009 Taxes
By Steve
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Also posted in tax assistance, tax deductions, Tax Law, Tax Preparation
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Tagged 4, Accounting, assistance, Better Business Bureau, Business, Internal Revenue Service, may, San Diego, scenarios, Southern California, tax, Tax Law, taxes, TurboTax, want, where, with, you, your
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