5 Tips for New and Confused QuickBooks Users
Learning new software is always a challenge. You have to learn the lay of the land before you can start working with it. How do I do this? How does the menu system work? How can I enter data without making a mistake? The learning process for financial software for your small business can be […]
Federal Tax Returns: Should You File an Extension?
Obtaining a six-month extension to file is relatively easy, and there are legitimate reasons for doing so; however, there are also a few downsides. If you need more time to file your federal income tax return this year, here’s what you need to know. What Is an Extension of Time to File? An extension of […]
Include Gig Economy Income on Tax Returns
People working in the gig economy earn income as freelancers, independent workers, or employees. Typically, an online platform is used to connect people with potential or actual customers to provide goods or services. Examples include renting out a home or spare bedroom and providing meal delivery services or rides. During the pandemic, many people joined […]
Tax Treatment of Selling Collectibles
If you enjoy collecting antiques and collectibles or investing in fine art, wine, or vintage cars, there may be a time when you’re ready to cash in and reap the financial rewards. But you need to be aware of the tax impact of selling collectibles. IRS Definition of Collectibles To serious art and antique collectors, […]
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