by Michele Cagan | Mar 27, 2024 | Do Your Own Taxes, Owning Your Own Business, Single Mom CPA
This post was originally published on March 11th, 2019. It has been updated to reflect changes in the tax prep checklist of items you need to collect to file your taxes as a business owner, freelancer, contractor, or 1099 worker. When you work for yourself, taxes can...
by Michele Cagan | Jul 20, 2023 | Do Your Own Taxes, Owning Your Own Business, Single Mom CPA
This post was originally published in 2018. It has been updated recently to include new links and the latest information, so you can use these tax breaks as you start your new business. It costs money to get even the simplest business up and running from scratch. And...
by Michele Cagan | Jul 13, 2023 | Do Your Own Taxes, Owning Your Own Business, Personal Finance
Note: This article was originally posted in 2017 but has been updated with more current information. Depreciation is the most confusing part of the full home office deduction, but it can substantially minimize your current tax bill. That’s because when you reduce...
by Michele Cagan | Feb 21, 2023 | Do Your Own Taxes, Personal Finance, Single Mom CPA, You Need to Know This
Q. How can I tell whether I should take the standard deduction or itemize my deductions? A. If your itemized deductions will be more than your standard deduction, itemize away! Of course, with higher standard deductions, fewer people than ever are itemizing. But that...
by Michele Cagan | Feb 2, 2023 | Do Your Own Taxes, Personal Finance
If you have your own business and work from home, taking the home office deduction can lead to big tax savings. But millions of solopreneurs don’t claim this valuable tax break, even though they’re 100% eligible. Many people don’t realize they can...
by Michele Cagan | Jan 12, 2022 | Do Your Own Taxes, Personal Finance, Single Mom CPA, You Need to Know This
I just sent out reminders to my clients that estimated tax payments are due again. And I got back a lot of panicky emails and requests for help. This is despite the fact that they’ve been making their estimated payments all year round, often with an assist from me....
