[Event] Ask the Experts: Biz Recordkeeping & 1099-NEC Filing

Join us on Wednesday, Nov 12th any time between 9:00 am and 5:00 pm Pacific Time for our latest installment of our Ask the Experts event series. This one is to keep you and your business in compliance with tax filing and recording keeping. Your busin... read more

Multiple businesses one LLC?

I live in Florida and I have a single member LLC. I was considering to open a second business but I was wondering if I could create it under the same LLC (keeping separate business bank accounts and bookkeeping of course). Like that I would reduce co... read more

1099 for home maker

I get paid for homemaker and community connector services that I provide for my disabled child via a 1099. What things can I use for tax write off’s if any? Admission to places I take him? If we go shopping and he buys a toy would that count? I often... read more

Small business hiatus

Good Afternoon, I am a self-employed professional artist and have been running my small business of making and selling art for almost 2 decades. I have filed my personal taxes using Turbo Tax with the addition of the Small Business/Sole Proprietorshi... read more

Bookkeeping

How do I book keep? Is bookkeeping something I should do daily, monthly or yearly? Which receipts should I keep? I have an LLC but if it didn’t make any money this year do I need to pay any taxes?

Dependent working

If my teen is doing some light office work for my LLC for which I pay her 200 a week, where do I report this on my tax return and she is my dependent so I claim her on my return but does she have to report and pay tax on the income I’ve paid her?

1099 vs W2

How do I determine who gets a 1099 or a W-2?

Sales Tax

Is an LLC required to charge sales tax to client?

Contract job for an architecture firm

Negotiating with an architecture firm to do contract work. What should I ask for? For instance, could they provide me with a phone, computer, email address with company name?

contract job with architecture firm

Trying to decide what to ask for in negotiations for contract work for an architecture firm.

Best way to learn how to maximize deductions

I have a single member LLC. I know it's a complex topic but I would like to know how to better maximize my deductions and save on taxes.For example:- how to know if a business expense is a write off or not?-is it better to lower my taxable income thr... read more

rental income (renting a room of my house)

I was considering to rent a room of the house where I live (and that I own). Do I need to open a business to manage the money I would receive from rental income or can I simply receive them in my personal bank account? What expenses can I deduct? gen... read more

SEP IRA or Solo 401k?

I'm self employed (I have single-member LLC). I already contribute to a Roth Ira and I was considering to open a SEP IRA or Solo 401k. I was reading that a SEP IRA has lower contribution limits but it's easier to set up compared to a Solo 401k and it... read more

What records/receipts do I need to keep, and how do I categorize groceries as a self employed nutrition coach?

I keep all my receipts for literally everything - groceries, tools, rent, clothes, all things. This is kind of a two part question because I also want to know, as a nutrition coach who posts content almost daily of what she is eating as part of her m... read more

Owners pay/withdrawals

How should I handle owner pay/withdrawals? Do I need to pay taxes on owner withdrawals if they are to pay back a previous investment and how should that be reported on taxes?