by PSA CPA | Sep 1, 2024 |
According to the U.S. Census Bureau, 13 million Americans held more than one job in 2019, and with the rapid growth of the gig economy, that number has likely increased in recent years. Many Americans take on extra jobs for supplemental income, to expand their skill...
by PSA CPA | Aug 1, 2024 |
This summer, taxes are most likely the last thing on your mind, but bear with us! In fact, the summer is a great time to do a mid-year financial review and evaluate your tax status. Here are some summer tax decisions you can make to save yourself some money come tax...
by PSA CPA | May 1, 2024 |
Let’s be honest – tax preparation isn’t at the top of anyone’s summer to-do list. But consider this! When planning fun summer activities or making life changes, it may be helpful to keep in mind how they may affect your tax return the following...
by PSA CPA | Mar 1, 2024 |
What is the qualified business income deduction? The Qualified business income deduction (QBI) allows self-employed and small-company owners to deduct up to 20% of their qualified business income from their taxes. In general, to qualify, total taxable income in 2023...
by PSA CPA | Feb 1, 2024 |
How to treat the home office deduction Many people who work for themselves do so from home. If that describes you, you are probably familiar with the home office deduction. If you have a home office that you utilize on a regular basis and only for business purposes,...
by PSA CPA | Jan 1, 2024 |
With tax season on the way, the IRS reminds businesses that the deadline for filing pay statements and paperwork for independent contractors to the government is Jan. 31. Employers must submit copies of Forms W-2, Wage and Tax Statement, and W-3, Transmittal of Wage...
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