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Taxes | Business | Financial Freedom | Wellness

Do you need to issue 1099s? Due 01/31 taxes Jun 03, 2021

Did you hire a website designer, VA or a business coach this year? Well, your business may be required to issue a 1099. New for tax year 2020 is the form 1099-NEC (Non-Employee Compensation) replacing 1099-MISC box 7 NEC. 

Each January the IRS requires that each taxpayer who has made ...

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Leverage up to 100k of your Retirement to Thrive in 2020 (Penalty Free!) retirement taxes Aug 01, 2020

New IRS guidance expands the possibilities for what is an adverse COVID-19 impact on you for purposes of taking up to $100,000 out of your retirement accounts and repaying it without penalties. 

First, let’s look at the rules as they existed before this new IRS guidance. The CARES Act...

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How to pay your tax bill or file for an extension...psssst it's easy. taxes Jul 15, 2020

Tax day is here so let's keep it short and sweet. 

What's due today?

  • Tax Returns for 1040 filers with Schedule C (Sole Prop, Single Member LLC, etc)
  • Tax Payments from those returns
  • Quarter 1 Estimated Tax
  • Quarter 2 Estimated Tax

If your return has already been filed and you need to make a...

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How to Track Auto Expenses for your Small Business taxes Jan 01, 2020

If you drive your personal car for your small business, you can deduct vehicle expenses in one of two ways: actual expenses or the standard mileage rate.

So which way is better for you? As always, it depends, so let's take a look so you can make a decision that's right for you.

Standard Mileage...

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