by admin | May 23, 2024 | TaxBiz
The term “independent contractor” defines how you earn income and your relationship with the people or companies you work for. It is not any particular type of business structure, as independent contractors are free to choose the structure that best suits...
by admin | May 8, 2024 | TaxBiz
🛑 Taxpayers can take a hit to their wallets if they don’t use the IRS tax withholding calculator, according to a warning issued by the Federal Agency. Americans often get hit with “surprise fees” when their previous year’s tax refund was too...
by admin | May 2, 2024 | TaxBiz
📕 April 15 was the federal deadline for most taxpayers to file returns and pay taxes, even with a lien extension, which moves the filing deadline to October 15. Now, if we’re having trouble covering the full amount of taxes, at Wave Tax we always recommend...
by admin | Apr 16, 2024 | TaxBiz
Many taxpayers use S corporations or C corporations to legally reduce income taxes, payroll taxes, and self-employment taxes for their businesses. However, without careful planning, a taxpayer may have a surprise tax bill from using a corporation for federal tax...
by admin | Apr 9, 2024 | TaxBiz
The thing that you must address when looking at an expense is if it was ordinary and necessary. Yes, it must be both. So, let’s look at some specific items when it comes to travel and meals for your taxes. 🔸 What is a Legitimate Travel Expense? According to the IRS,...
by admin | Apr 2, 2024 | TaxBiz
Filing a tax extension on or before April 15 moves your deadline to October, but remember that an extension doesn’t give you more time to pay your taxes. If you’re not sure you’ll have it together by tax day and think you may need to file a tax extension,...
