For individuals and professionals who frequently use their personal vehicles for work-related travel, understanding how mileage reimbursement works is essential. Whether you’re a freelancer, small […]
Author: Erik Wilson
Exemptions vs Deductions vs Credits: What They Mean and How They Save You Money
As filing season approaches, many people begin to search for legitimate ways to reduce how much they owe. Among the most commonly used strategies are […]
Maximize Your Tax Breaks with the QBI Deduction for Pass-Through Entities
The qualified business income deduction is a valuable provision introduced by the Tax Cuts and Jobs Act to provide tax relief to small business owners […]
IRS Form 1098 Explained: How to Maximize Your Tax Deductions
IRS Form 1098, also known as the Mortgage Interest Statement, is a tax document that reports the amount of mortgage interest an individual has paid […]
Understanding W-2 Form Box 12: Complete Guide to Tax Letter Codes
The W-2 form is a crucial document for employees and tax professionals alike. It summarizes an individual’s earnings and tax withholdings for the year and […]
Ultimate Guide to IRS Form W-9 for Freelancers and Independent Contractors
Independent contractors and freelancers deal with a unique set of challenges when it comes to paperwork. One of the most frequently encountered documents in this […]
Understanding IRS Form 1099-S: A Comprehensive Guide
IRS Form 1099-S is a tax document used to report the sale or exchange of real estate. The Internal Revenue Service requires settlement agents, real […]
What Is an EIN and Why It Matters for Your Business
Starting a business involves numerous foundational steps, one of which includes determining whether to obtain an Employer Identification Number. While not all businesses are mandated […]
How to Legally Claim a Boyfriend or Girlfriend as a Dependent on Your Tax Return
Many couples choose to live together without getting married, sharing everything from rent and groceries to utility bills and healthcare. In some cases, one partner […]
Essential IRS Tax Forms for Self-Employed Individuals
Filing taxes as a self-employed individual is quite different from the process that employees follow. Instead of receiving a W-2 that simplifies income reporting and […]