by Michele Cagan | Apr 17, 2021 | Do Your Own Taxes, Owning Your Own Business, Single Mom CPA, You Need to Know This
Q: When are my taxes due? A: May 17, 2021 is the due date for individual tax returns – Form 1040 – and making 2020 income tax payments. But there are other due dates you may need to know too: April 15: 1st estimated tax payment for 2021 April 15: income...
by Michele Cagan | Apr 3, 2021 | Do Your Own Taxes, Owning Your Own Business, Single Mom CPA, You Need to Know This
Did you know that you can deduct 20% of your business income on your personal tax return? You can, thanks to the Tax Cut and Jobs Act (TCJA). The TCJA brought a lot of tax changes for small business owners. And if you’re self-employed, a freelancer, contractor,...
by Michele Cagan | Mar 3, 2021 | Do Your Own Taxes, Owning Your Own Business, Personal Finance, Single Mom CPA
If you’re self-employed, work as a freelancer or contractor, or have a side gig, you are a business. And that means you’ll need to fill out Schedule C as part of your federal income tax return. When you use Schedule C, you can deduct business expenses...
by Michele Cagan | Feb 22, 2021 | Do Your Own Taxes, Personal Finance
Want to file your taxes for free? You can… but you’ll want to make sure you don’t end up paying to “free-file.” There are a lot of free tax prep programs available…and there are many that start out as free but then hit you with fees when...
by Michele Cagan | Feb 13, 2021 | Do Your Own Taxes, Retirement Planning
UPDATED FOR 2021 You still have plenty of time to lower your 2020 tax bill. For a win-win, make an IRA contribution for 2020. You can go with a currently tax-deductible traditional IRA or the Roth IRA (which is not deductible this year but...
by Michele Cagan | Feb 9, 2021 | Do Your Own Taxes, Personal Finance
UPDATED FOR 2021 Paying for college is crazy expensive – even when it’s mostly online. And if you’re footing the bill for more than one education, your finances are probably stretched pretty thin. Two tax credits can help put more money back in your...
