by Innov8ive Marketing | Mar 24, 2024 | Filing, Tax Planning
What Are the Tax Implications of the Gig Economy Reporting Income as a Gig Worker Gig economy workers must report all income earned from their endeavors. This includes, but is not limited to: Earnings from part-time, temporary, or side gigs. Income not reported on...
by Innov8ive Marketing | Mar 17, 2024 | Tax Planning
Standard Deduction vs. Itemizing: A Comprehensive Guide for Small Business Owners and Self-Employed Individuals As tax season approaches, one of the most significant decisions you’ll face as a small business owner or self-employed individual is whether to take...
by Innov8ive Marketing | Mar 3, 2024 | Filing, Tax Planning
Is Filing an Extension Bad? We get this question probably a thousand times a year. An extension is not inherently bad, it is truly personal preference. An extension will not increase your risk for an audit or red flag your return with the IRS. In fact, it is...
by Innov8ive Marketing | Mar 1, 2024 | Uncategorized
Strategies for Compensating Your Children Legally Paying your children through your business can be a strategic way to manage your business’s taxable income, while also providing your children with income and potentially teaching them about the value of work. ...
by Innov8ive Marketing | Jan 14, 2024 | Uncategorized
Tips to Achieve Financial Freedom Quickly As a small business owner, you understand that time, money, and peace of mind are precious commodities. The world of taxes can often feel like a labyrinth of complexities, with ever-changing rules and regulations that can...
