asked
As a first-time self-employed filer, I need help understanding how taxes work for self-employed individuals. Specifically, I want to know how deductions affect my tax liability, how much I should be saving for taxes, and if I need to make quarterly tax payments.
January 20th, 2024
In 2017, I had a mental health crisis and was unable to collect W-2s from numerous jobs and unemployment to file a tax return for the year 2016. Now that I am functioning normally, what should I do about my 2016 tax return?
January 27th, 2023
Since 2015, I've been recording Shareholder Loans in my books but not reporting them in my taxes. The total loan amount is now over $60K. Do I need to file amended returns to document these loans? Will this affect my ability to pay myself back later if I don't document them with my tax filings in addition to my books?
September 25th, 2024
Should the transfer of assets from personal ownership to an LLC be made solely in the LLC's name for legal protection, rather than jointly in both the LLC's and my personal name?
February 21st, 2024
Filling out a new W-4, I am married filing jointly with 2 kids (both under 8), but the worksheet seems different this year. Typically, isn't a 4 the normal allowances? My worksheet is currently at 17. What should I do?
December 6th, 2023
What are the tax deductions available for a sole proprietor in various business-related scenarios, including travel expenses, office supplies, equipment purchases, and state tax implications?
September 18th, 2023