Posts Tagged ‘self-employment tax’
Why Your CPA Says “It Depends” (And the 5 Numbers You Need to Answer It)
You ask a simple question. “Should I switch to an S corp?”“Can I write this off?”“Do I need to pay quarterly taxes?”“Should I do a big retirement contribution?” And your CPA says the line you didn’t want to hear. It depends. If you’ve ever felt mildly annoyed by that answer… you’re not alone. I’ve had…
Read MoreAre You a Real Estate Dealer or Investor?
People engaged in frequent sales of real property need to determine whether they are real estate dealers or investors. The distinction is important because dealers and investors are treated very differently for tax purposes. Tax Consequences of Dealer vs. Investor Status Real estate dealers buy and sell properties as part of their regular business operations,…
Read MoreDo I Need to Pay Estimated Tax to the IRS?
If you are a small business owner or independent contractor, you probably need to pay estimated tax each quarter. Here is a guide to this obligation.
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