Three Signs You Should Ditch The Software And Hire A Professional Tax Preparer

With the rise in online software, many people are choosing to do their tax returns on their own, but you can get a lot of value by paying a tax preparer to help you. Should you work with a professional or handle your own tax prep? Ultimately, the answer varies, but here are three signs you should consider working with a tax preparation service. 1. You Think You Should Qualify for a Lower Tax Liability 

A Few Options For Tax Debt Relief

If you have somehow gotten behind in your income taxes, the IRS can make things a bit difficult for you. While it may take them a few years to catch up with you and cause trouble, be aware that they will, at some point. They can put a lien on your property, seize your property, and charge you with tax evasion. If you have not been contacted by the IRS about your owed taxes, it would be a good idea to contact a tax debt relief service to start taking care of the situation yourself.

Injured Spouse Relief And Innocent Spouse Relief Are Not The Same

Injured spouse and innocent spouse are two tax terms often used interchangeably. However, it's important to understand that while the two terms sound somewhat similar — they are quite different. With that being said, people don't necessarily qualify for relief under the injured spouse guideline and automatically qualify for innocent spouse relief.  Spousal Roles One of the first factors that the IRS will consider when examining a persons' request for innocent spouse relief is their role within the tax situation.

Working A Freelance Job? What To Know About Paying Taxes

Have you made the shift from a salaried job to working freelance? If so, this may cause you to feel a bit stressed about how you handle your taxes. You no longer have to enter your W2 information and see how close your tax withholdings were to your actual taxes owed, since you likely have not paid any taxes throughout the entire year. Here are some tips that will help you for filing your taxes as a freelancer.

3 Tax Tips For Rideshare Drivers

If you drive for a rideshare app, you are considered an independent contractor. You need to fully understand what it means to be an independent contractor and make sure that you are keeping documentation of all the right expenses if you want tax time to go smoothly. Documents to Expect from the Ride Sharing Company You may get tax documents from the ride sharing company you work for, depending on how much money you can make from the app and how many rides that you give.

2 Reasons To Work With A CPA Service

Working with a CPA service can be extremely beneficial for just about any company, typically because of the various ways in which they can help you keep your business' finances in order. Listed below are just two of the many reasons to work with a CPA service. They Can Allow You To Delegate Time-Consuming Tasks One of the biggest things that you will run into when running your own business is that there is often a lot of tasks and work requiring your time and attention.

Five Life Events That You Should Discuss With Your Tax Preparer

If you are getting documents ready for your tax preparer, it is a good idea to also do a mental checklist of everything that has changed in your life in the past year. Major and even smaller events can have an effect on your taxes and filing status, so it is a good idea to discuss all of these possible changes with your tax preparer before they get to work. Here are a few life events that can affect your taxes that you should bring up with your tax advisor when filing.

Six Expenses You Need To Make Sure You're Deducting On Your Tax Return

You can cost yourself thousands of dollars in taxes if you neglect to deduct expenses that you could list on your tax return. It's best to rely on professional income tax preparation services to ensure that you don't miss out on deducting any of these big expenses and enjoying the resulting decrease in your tax liability. The following are six expenses you need to make sure you're deducting on your tax return:

Three Ways To Properly Prepare For Filing Taxes As An Independent Contractor

When you work as an independent contractor, you are required to file taxes based on the income that you made throughout the year. Many independent contractors do not have taxes taken out of the pay that their clients give them, so they have to pay a lump sum when tax time comes. The guide below walks you through a few ways a tax professional may be essential when you have to file taxes as an independent contractor in the future.

3 Basic Tax Tips For New Parents

Did you have a baby in the last year? If so, congratulations! Your new little one will bring you lots of joy, as well as occasionally complicating your life. The same could be said about your taxes now that you're a parent. Your tax filings are about to get more complicated than they used to be, but the changes are mostly in your favor. Check out a few things you should know about filing taxes as a parent: