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Income Taxes

Information About Employer Identification Numbers (EINs)

IRS Requirements & How to Apply for an EIN An Employer Identification Number (EIN) is a 9-digit number issued by the IRS for the purposes…


What Is Estimated Tax & Who Does It Apply To?

Understanding the IRS Requirements for Estimated Taxes Everyone must pay taxes on the income they receive during the year, whether it is from a job,…


Hobby Income

Is your favorite pastime classified as a business or a hobby? Here's how the IRS sees it.   Millions of people enjoy having hobbies —…


Business Taxes: Important Due Dates

In general, all businesses operating in the U.S. are required to report their activities to the IRS by filing annual tax returns. The due date…


5 Tax Deductions for Businesses

Beyond normal day-to-day business expenses, there are many other tax deductions that can help business owners reduce their tax liability. Not using all the deductions…


Tax Tips for Independent Contractors

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


7 Facts About Miscellaneous Deductions

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


5 Tax Tips for New Businesses

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