Side Hustle Taxes Part I: Reporting Income & Expenses, and Understanding Deductible Business Costs business tips side hustle taxes tax tips

So you have a side hustle and you're probably confused about how to pay taxes on your side hustle income.

Am I right?

Navigating the tax landscape with a side hustle can be confusing, but you've come to the right place! This is a three-part series designed to demystify the tax implications of...

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Pay Zero Taxes on Your Side Hustle? Uncover the Legal Loopholes! side hustle taxes tax tips taxes

Here's how you can legally pay zero or no taxes on your side hustle income.

Now, I know what you might be thinking – the idea of paying little to no taxes on your side business income might seem too good to be true. But stick with me!

We will explore some completely legal and smart...

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What You're Doing Wrong with S Corporation Health Insurance Premium business tips irs s corporation

Today, I wanted to address a common mistake with S Corporations, and how owners/shareholders often incorrectly deduct their health insurance premiums.

I'll give you a high-level overview of how this works within an S Corporation structure – no deep dive, just the essentials you need to...

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What is The IRS First-Time Penalty Abatement: How Does It Works? individuals irs tax tips

If you owe any amount of money to the IRS, I'm pretty certain there would be penalties included in the tax-due amount. These penalties can add up, sometimes even doubling the amount due.

In this blog post, I'm going to share a little-known secret to getting those penalties abated with a simple...

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5 Tax Misconceptions You're Getting Wrong individuals tax tips taxes

Did you know that some of the most common things people believe about taxes is actually wrong?

I'm a CPA and I've been unraveling the complexities of taxes for decades. Today, I'm going to share my top five misconceptions about taxes that might just surprise you.

Whether you're a tax pro who...

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Don't File an Income Tax Extension Until You Read This! irs tax extensions

Tax day is right around the corner and suddenly you realize you're not quite ready to do your taxes. So the idea of filing a tax extension comes into consideration. It's a very common scenario, but is that the best decision for your situation?

Let's dive in and discover if filing a...

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Should You Do Your Own Taxes Or Hire a Tax Pro? small business tax tips taxes

When it comes to taxes, you're probably doing it all wrong.

Hiring a Tax Professional vs. DIY

Imagine this... We often find ourselves at a crossroads. One path involves your tax documents and do-it-yourself tax software; The other, an experienced tax professional who will take your...

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TOP 3 FREE Tax Filing Options: VITA vs. IRS Free File vs. AARP irs tax tips taxes

Filing your taxes shouldn't be difficult, and unless it's complicated, it shouldn't be too expensive either. If you think tax filing is a hassle and expensive, I've got some good news for you. There are some free and user-friendly options that can make this process much smoother. However, there...

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What to Do if You Receive an IRS Form 1099K? 1099-k irs side hustle taxes

If you're reading this blog post, you've probably received an IRS Form 1099-K, and you want to know what to do with it.

Can you ignore it, or do you need to report it on your tax return?

Short answer, you do need to report it on your tax return or face receiving a nasty letter from the IRS with...

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Tax Returns for S Corporations: Should You Do It Yourself? income tax preparation s corporation

Are you handling an S Corporation tax return on your own? You might want to think twice. It may seem like a cost-effective choice, but the reality can be quite different.

In our latest video, we're going to dissect a self-prepared tax return for an S Corp that's riddled with mistakes -...

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How to File BOI Report With FinCEN? Step-By-Step GUIDE boi reporting llc

You're probably here because you need to file your BOI report. As a CPA, I understand the frustration and complexity of tax filings, but I'm here to simplify the process for you. So I've prepared and recorded a quick step-by-step video tutorial for you on how to file your BOI...

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Never Fear an Audit Again: Ex-IRS Agent Secrets Revealed! irs tax resolution tax tips

In today's blog post, I've got something special for you -- a YouTube video where I'm sitting down with Michael Sullivan, who's not just any tax expert. He's a former IRS Agent and a familiar face on News Maxx, Fox News, and ABC, just to name a few. 

He was an IRS insider for over a decade....

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