If you are self-employed, an independent contractor, freelancer, or have significant income without tax withholding, the IRS generally requires you to make quarterly estimated tax payments. Failure to do...
Investing in your skills through professional development is often critical for business success. Fortunately, under IRS rules, certain educational expenses may be deductible if they maintain or improve your...
The Qualified Business Income (QBI) deduction allows many business owners to deduct up to 20% of their business income on their personal tax return, significantly reducing federal income taxes....
Introduction Artists and creative professionals, including freelance designers, musicians, photographers, writers, filmmakers, and visual artists, often have irregular income, high self-employment taxes, and numerous business expenses. Whether you earn...
Introduction Consultants and coaches—whether in business, fitness, life coaching, or professional development—often operate as self-employed professionals. This means they are responsible for self-employment taxes, business expenses, and estimated tax...
Introduction Running a restaurant or food business comes with high operating costs, fluctuating revenues, and complex tax rules. Fortunately, the IRS offers several deductions and credits that can help...
Introduction Musicians, performers, and entertainers often have irregular income, travel expenses, and self-employment taxes, making tax planning essential. Whether you’re a freelance musician, touring artist, actor, comedian, or producer,...
Introduction Real estate investing can be highly profitable, but tax liabilities can significantly impact returns if not properly managed. Fortunately, the IRS offers several tax strategies that allow investors...
Introduction Teachers often spend their own money on classroom supplies, professional development, and continuing education, yet many are unaware of the tax deductions and credits available to them. Whether...
Introduction Healthcare professionals, including doctors, nurses, dentists, therapists, and private practitioners, face unique tax challenges due to high income, self-employment taxes, and business expenses. Strategic tax planning can help...