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Booth Renter or Employee
Texas dropped its booth rental license, but salon owners still have to decide if stylists are booth renters or employees. Here's what each option means for you.
Married-couples-filing-separate-tax-returns

Married Couples Filing Separate Tax Returns: Why Would They Do It?

You may wonder whether you should file joint or separate tax returns if you’re married. The answer depends on your individual tax situation. In general, it depends on

tax-aspects-of-sole-proprietor

Important Tax Aspects of Operating Your Business as a Sole Proprietor

If you’re planning to start a business or you’re already in business for yourself as a sole proprietor, you need to know about the tax aspects of your

Did-you-give-to-charity-in-2021

Did You Give to Charity in 2021? Make Sure You Have Substantiation

Letters from the charities you donated to in 2021 may have appeared in your mailbox recently to acknowledge your donations. But what happens if you haven’t received such

Ins-and-Outs-of-IRAs

The Ins and Outs of IRAs

Traditional IRAs and Roth IRAs have been around for decades. The rules surrounding them have changed many times, but what hasn’t changed is that they can help you

Keeping-meticulous-records

Keeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits

If you operate a business, or plan to start a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully

business start up expenses

Entrepreneurs and Taxes: How Expenses Are Claimed on Tax Returns

While some businesses have closed because of the COVID-19 pandemic, many new ventures have launched. Entrepreneurs have cited several reasons why they decided to start a business in

filing-your-2021-tax-return-early

Help Safeguard Your Personal Information by Filing Your 2021 Tax Return Early

The IRS opened the 2021 individual income tax return filing season on January 24th. (Business returns were accepted earlier.) Even if you typically don’t file until closer to

tax-limits-affecting-businesses

Numerous Tax Limits Affecting Businesses Have Increased for 2022

Many tax limits affecting businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important

2022-revised-tax-limits

How Will Revised Tax Limits Affect Your 2022 Taxes?

Although Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. This is because

Important! IRS Is Sending Letters you MUST keep!

Important! IRS Is Sending Letters you MUST keep!

If you have children or received a stimulus payment in 2021 the IRS is sending you letters you will need to file your 2021 taxes. Do NOT throw

Businesses-with-employees-who-receive-tips

Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit

If you’re an employer with a business where tipping for food and beverages is customary, you may qualify for a federal tax credit involving the Social Security and

medical-expense-tax-deduction

Are You Eligible for a Medical Expense Tax Deduction?

You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not easy. Medical expenses

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