Tax extensions are available to request an automatic 6 month extension for filing purposes. To be understand, read more here.
If you pass the substantial presence test, you will be considered a U.S. resident for tax purposes and would be subject to taxation in the United States.
In most cases you can deduct insurance expenses related to your business. Before deducting, read more here or discuss with your tax advisor.
As a sole proprietor you should understand the pros and cons of doing so and compare its features to those of other organizational structures.
Credit card and merchant fees are sometimes deductible on your taxes. To find out more, and how to ensure you qualify, read here.
All state and federal employer payroll taxes will generally deductible on your Schedule C. Here's what you should know about payroll tax deductions.
The Retirement Savings Contributions Credit rewards entrepreneurs who contribute to qualifying plans by allowing them to take a credit.
The IRS allows you deduct state and local income taxes when you prepare your federal tax return. To understand more, read here.
If you are a business owner who subsidizes all or a portion of your employee's health care coverage, you may be eligible to claim a tax credit. Read more.
If you contribute to a traditional IRA you could be eligible for deductions come tax filing time. Read more on how to be eligible here.
Do you know which forms are required to take advantage of the Health Savings Account deduction? Click here for more information and tips.
Donating to charity can actually save you money on taxes, aside from giving you personal joy. Read more on information about deducting charitable donations.
As a rideshare driver, you may already know that in addition to direct vehicle expenses, you may be able to deduct operating expenses. Read more.
Understanding tax basis vs book accounting are two different things. Leveraging both can help you and your business succeed at tax time.
Dental and Medical expenses are deductible on your tax return. Read more to see what medical and dental expenses can be included.
Health insurance premiums you pay for yourself and your family may deductible. Here's what you should know about self employed health insurance deductions.
Business owners that own vehicle for business purposes are able to deduct the cost / value over a 5 year period through depreciation. Read more here.