Being self-employed can reap flexibility, but it can also have its drawbacks, like not having built-in sick days or short-term disability. Legislators were able to gain approval on offering sick leave credit for self-employed individuals who had to take time-off related to the pandemic. Under the Families First Coronavirus Response Act, up to 60 days …
The tax deadline may have been extended to May 17, but it will be here before you know it. If you haven’t filed and paid your taxes yet, this is your reminder to get organized! With employer forms, deductions, changing tax credits and potential changes in employment that the previous year brought, it’s important to …
Investing in cryptocurrency is a huge financial trend that took off even more during the pandemic. We’re even seeing younger individuals invest in crypto as it gains popularity. If you’re trading and making revenue in this market, don’t forget about the potential financial ramifications it can have, like owing taxes. You’ll want to ensure you’re …
When it comes to filing your taxes and keeping up with the books for your business, we know you have a lot of options. There are a few key things we think are important when choosing the right service for your needs. These include ease-of-use, cost, and expertise. Keep reading for five reasons you should …
Filing your taxes as a student is a big adult move! We see you! We’re here to share some practical tips to make filing your taxes as a college student a little easier. Do You Need To File? First and foremost, let’s figure out if you need to file taxes. If you have earned …
Today, the U.S. House of Representatives has passed the American Rescue Plan Act of 2021, the 3rd round of COVID relief. President Biden is expected to sign the bill by the end of the week. There were some key changes to the original bill, specifically related to stimulus payments and jobless benefits. See how they …
What you need to know about being self-employed If you’re reading this, we’re assuming you are either considering quitting your job and going self-employed or you just made the big jump! This is an exciting time because it means you’re your own boss and you have much more control over your schedule. We want …
Do you travel for business as a business owner or self-employed professional? We hope you are tracking your expenses! First, you must be aware of your tax city, this is the primary area where you live and conduct business. If you have to travel outside of this general area for a business purpose, there …
Making The Most Out Of Your Travel Business Trips Read More »
There can often be many misconceptions and misinformation when it comes to the military and taxes. We wanted to cover three frequently asked questions we get and how to handle them when working on your 2020 tax return. I am in the military, do I have to pay taxes? Yes, you are required to …
If you are a nurse who worked through the pandemic in 2020, first off, we wanted to pass along our thanks and gratitude from the entire IOOGO team. We know this year wasn’t easy but we hope we can make filing taxes a little less daunting. We’ll walk through what you need to know about …
Are you a teacher getting ready to file 2020 taxes? The average teacher spends nearly $500 of their personal money each year on classroom supplies, which means you are likely eligible for the educator expenses tax deduction. First off, we want to explain that this is not a true deduction, but an income adjustment. …
Teacher Taxes: How Does The Educator Expense Tax Deduction Work? Read More »
How Parents Can Save Money On Taxes Parents, did you know there are several tax credits, deductions and adjustments that you should be aware of? Whether you are a first-time parent or you’re looking to brush up on your tax knowledge, this one’s for you. Claiming Your Child As A Dependent Most of …
The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. The credit reduces the amount of tax you owe and may give you a refund. To qualify, you must meet the following criteria: 1. You, your spouse (if applicable), and all listed qualifying children must have social security numbers;2. …
What is the Earned Income Credit and how much can you get back? Read More »