Blogs | December 2021

"Did you hire employees? Did you know you may qualify for credits to offset the costs?"

December 30, 2021

Tax Credits for Schedule C Business Owners with Employees, Congress encourages businesses to hire employees and provide them with various benefits. If you hire an employee for your Schedule C business, you can qualify for several valuable tax credits............

 

 

"Have you ever been told by an auditor or accountant that not issuing A 1099 to a vendor means no deduction on your tax return? Does it sound unfair that neglecting this filing requirement costed you big $$ on your tax bill?"

December 27, 2021

I didn’t issue Form 1099s to my contractors in 2017. The IRS is auditing my 2017 Schedule C, and the auditor said I can’t deduct the contractor payments because I didn’t issue Form 1099s.

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"IRS Key Contact Information and Helpful Links"

December 23, 2021

Advanced Child Tax Credit Payments

800-908-4184

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

 

 

"Avoid This Husband-and-Wife LLC Mistake
Situation"

December 21, 2021

My wife and I currently have a flow-through LLC in which we are both members. My wife is the real estate sales professional. Her broker pays the LLC and gives her a 1099 at the end of the year.............

 

"10 Tax Strategies for Schedule C Taxpayers: What, How, and Where"

December 16, 2021

With the resource in this article, we go one step further—we show you where in the tax return you should record these tax breaks.we provide you with 10 tax-saving strategies that put money in your pocket. We then show you how these strategies work for you and where to record them on your Schedule C.........

 

"Trust But Verify When It Comes To Financial Advice"

December 15, 2021

While doing my daily reading one recent morning I came across an article on my news feed by the folks at Rich Dad, Poor Dad. For those who may not be aware that is an organization that grew out of a financial planning book by Robert Kiyosaki........

 

 

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