Many taxpayers feel uneasy when they open a letter from the IRS and see that they owe penalties. The good news is that the IRS offers opportunities to remove or reduce penalties in certain cases. If you have received a…
Shamsey Oloko
November 14, 2022
Bonus Depreciation, Business Expenses, Corporate Tax, Deductions, Depreciation, Hobby-related, Home-Related Deductions, Income, Income Tax, Interest Income, Itemized Deductions, Miscellaneous Expenses, Ordinary and Necessary Expenses, Qualified Expenses, Taxable Income, THORGOOD Law Firm, Travel Expenses, Work-Related Expenses
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What New Business Owners Need to Know About Federal Taxes – Part 1 – Is It a Business (or a Hobby)?
Most of us engage in hobbies of some kind, whether it’s collecting Chinese restaurant menus or making birdhouses. At some point, your hobby may start earning you additional income. Later, if the time that you spend on your hobby increases,…
Shamsey Oloko
June 25, 2018
Business Expense, Business Expenses, Business Tax Credits, Capital Gains, Capital Losses, Charitable Contributions, Charitable Organization, Child and Dependent Care Credit, Child and Dependent Care Creidt, Child Support, Child Tax Credit, Corporate Tax, Deductions, Dependents, Donald J. Trump, Education 529 Plans, Estate Tax, Filing Status, Form 1040, Gains & Losses, Home Equity Loans, Income, Income Exclusions, Income Tax, Income Tax Return, Independent Contractor, Interest Income, Internal Revenue Code, Internal Revenue Service, Itemized Deductions, Job Search Expenses, Married Filing Jointly, Married Filing Separately, Medical Expenses, Miscellaneous Expenses, Mortgage Interest Deduction, Moving Expenses, New York Income Tax, New York Property Tax, New York Sales Tax, New York State Tax, New York State Tax Law, News, Profits & Losses, S Corporations, Sales Tax, Schedule A, Standard Deductions, State & Local Taxes, State Sales Tax, Tax Cut and Jobs Act, Taxable Income, THORGOOD Law Firm
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