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Tax Guide for the Self-Employed

October 14, 2021

Understanding self-employed tax rules can feel like a minefield. When you’re already spending large amounts of time running a business, keeping the books and producing a great service or product, taxes are probably the last thing you want to tackle. Unfortunately, the IRS is adamant about everyone paying their fair share—and it’s always best when you get it done right the first time. Here’s what you need to know about taxes if you’re self-employed. Who qualifies as self-employed? The IRS has three major categories of self-employed people: sole proprietors and independent contractors, being a member of a business or trade... View Article

Which Summer Childcare Expenses Can Be Deducted?

September 28, 2021

Summer’s over, but we hope you kept your receipts! Summer camps can be expensive. The average nationwide cost hovers around $200 per week. Now that the kids are back in school, your childcare expenses have probably gone down a bit. What, if anything, can be deducted from your 2021 tax bill? Can you write off summer camp fees and other childcare-related expenses? Read on to learn what you need to know about deducting summer childcare expenses. Introducing the Child and Dependent Care Tax Credit If you want to deduct summer camp and childcare expenses from your 2021 tax bill, the... View Article

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