DoorDash Tax Guide: What deductions can drivers take?

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A side hustle like DoorDash can be a terrific way to make some extra cash. If self-employment is for you, you can also plunge headfirst into the gig economy and become a full-time delivery driver. Either way, it’s important to understand that although working as an independent contractor for DoorDash and other companies offers some … Read more

The Best Self-Employed Tax Deductions for 2021

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As a small business owner, you probably won’t manage to reduce your tax liability as low as some of the infamously rich, but that doesn’t mean you shouldn’t try. There are several self-employed tax write offs you can use to save on your tax bill. The trick is to find them and then use them … Read more

Reduce Your Self-Employment Taxes with an S Corp

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Being self-employed is great in so many ways. You have a flexible schedule, you can choose your own clients and of course you get to keep all the upside from your hard work. One big drawback though are the self-employment taxes that you owe every quarter. Thankfully there’s a fairly simple way to avoid those … Read more

How to Calculate Quarterly Estimated Taxes for 2021-2022

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You may have heard us mention before that the federal income tax is a pay-as-you-go tax. As the name implies, this means that you pay your taxes as you earn income. This is why your employer withholds federal taxes from your paycheck every week. Self-employed people, however, don’t have an employer to withhold taxes for … Read more

How to File Your Independent Contractor Taxes

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With the rise of the “gig economy,” an increasing number of people are working as independent contractors, and thus having to pay their independent contractor taxes. Whether you perform freelance work on the side or are running a long-time independent business as your primary source of income, you will need to report your income as … Read more

Freelance Taxes: Everything You Need to Know

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Being a freelancer comes with a lot of perks. You work on your own time, on the projects of your own choosing, at whatever rate you decide. Whether it’s your full-time job or just a side gig, it’s a great way to earn some extra money doing something you’re good at – or even better, … Read more

A Guide to Understanding Rental Income Taxes

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Do you own a rental or investment property? If so, it is crucial that you declare the rent collected from tenants as rental income when filing your taxes. It is important to note that you are able to deduct expenses incurred for maintaining your investment property. For first-time landlords, the additional tax declarations can be … Read more