Many people take on an air of fear when they are forced to deal with the IRS, and understandably so. There are definite ramifications when you are subject to an IRS audit. Not only could you end up owing a…
Tax planning serves a number of important purposes. Ideally, you are attempting to utilize strategies that can help minimize the amount of money that you must pay in tax. In addition, tax planning is also about managing your risk and…
Yes, if your side gig qualifies as a genuine business (with a profit motive) and meets both federal and New York State rules for deducting losses. That means you must show that your expenses directly relate to an active, profit-seeking…