Determining if you need to issue a 1099 for your babysitter or nanny based on IRS guidelines for household employees.
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Steps to obtain a tax transcript from the IRS, including online and mail options for different transcript types.
Understanding the difference between tax deductions and tax credits and how each affects your tax liability.
Explaining what tax deductions are, how they work, and common examples to maximize your tax savings.
Guidelines on deducting job search expenses on your taxes, including eligibility and limitations under IRS rules.
Strategies to reduce or remove common IRS tax penalties, including late payment and filing penalties.
Distinguishing between a hobby and a business for tax purposes and the implications for your tax filings.
How to use the 14-day loophole for tax-free extra income under IRS rules for short-term rentals.
The importance of building your community alongside your business for long-term success and engagement.
Clarifying if previously purchased equipment can be listed as a business expense for tax deductions.