Seeking out new career opportunities can have many financial implications, including taxes. When you switch jobs, your income may change along with your eligibility for certain tax deductions and credits that ultimately affect your tax liabilities today and in retirement. During these transitions, you must keep up to date with evolving laws to maintain tax […]
If you accepted more than $5,000 in online business payments in 2024 for goods and services via platforms such as Venmo, PayPal, eBay, Airbnb and Cash App, the IRS expects you to pay taxes on those earnings come April 15, 2025. While the IRS has always considered these payments as taxable business income, many taxpayers […]
Posted on March 31, 2023 by
Angie Adames
Gathering required documents and preparing to file federal tax returns each year can become a very cumbersome process. While U.S. tax laws allow individuals to request a six-month filing extension, they require individuals to pay their 2022 tax bills by the original April tax filing deadline, which, for 2023, is April 18. Failure to pay […]
Posted on June 21, 2021 by
Joanie Stein
The IRS issued important guidance concerning an expansion of the COVID-19-related paid sick and family leave tax credits available to employers under the American Rescue Plan (ARP) enacted earlier this year. Background Congress introduced the emergency paid sick leave and family and medical leave programs in 2020 as part of the Families First Coronavirus Response […]
