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Income Taxes

Tax Tips for Independent Contractors

Information for Self-Employed PersonsFor Federal income tax purposes, it is important to know whether you are an employee or an independent contractor.Employee vs. Independent ContractorThe…


7 Facts About Miscellaneous Deductions

Tips for Claiming Miscellaneous Deductions on Your Income Tax ReturnItemizing your deductions (as opposed to claiming the standard deduction) means that you may be able…


5 Tax Tips for New Businesses

Federal Tax Information for People Who Are Starting a BusinessStarting a new business is an exciting adventure, but also a major undertaking. Although, as a…


Free Tax Preparation Tips

When it comes to tax preparation many people are far from efficient. In fact, most taxpayers are disorganized and unprepared when they begin to file…


State Income Tax vs. Federal Income Tax

It is important to understand the difference between State income taxes and Federal income taxes. If you don’t, you could end up making mistakes that…


Understanding Income Tax Audits

A Federal income tax audit is a review of your income tax return to determine its accuracy and truthfulness. Note that a tax audit is…


Understanding How Income Taxes Work

What Are Income Taxes and How Do They Affect You? For most people, the thought of paying income taxes makes their stomach turn. While everyone knows that…


2 tax benefits self-employed professionals should know about

Undoubtedly the two biggest benefits of having an employer are health insurance and retirement plans, right? Wrong. Both of these pricey items are covered when…