THORGOOD Law Firm Archives - FREE Yourself from IRS Problems

Good Things to Know When Filing Your 2023 Taxes

It’s 2023 and a new year means it’s tax filing season. As taxpayers, we need to take some key steps as we prepare to file our 2022 federal unfiled tax returns new york. While some useful tax tools are no…

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 0

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 November 5, 2022 Business Expenses, Corporate Tax, Home-Related Deductions, Taxable Income, THORGOOD Law Firm, Work-Related Expenses 0

The Tax Upsides (Or Downsides) of Working from Home

The Coronavirus pandemic changed how we live in many ways. It also changed how we work. Many Americans shifted their workplace to their home because of the pandemic. While some did it only temporarily, others have continued working from home.…