A better way to handle the busy tax season

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Phillip Ingelmo

58 Posts

FAQ

How can I integrate my jobs with my calendar?

With this new feature you are now able to sync your Calendar of choice with Taxfyle to see all upcoming jobs with ease.

1 min read

Business Tips

How to Hire a Small Business Tax Advisor

There’s simply too much on the line. Here’s why you ought to hire a small business tax advisor.

5 min read

Personal Taxes

I'm freelancing, how do I pay my taxes?

Freelancers generally find they have a more difficult tax situation than most employees.

1 min read

Personal Taxes

When can I file my taxes?

The processing of your return will be declared by the IRS whenever they say. The IRS stated that the 2018 tax season opened on January 29th.

1 min read

Personal Taxes

Are there benefits to filing early?

For practical reasons, filing early generally reduces your stress levels at tax time.

1 min read

Personal Taxes

When do I get my tax refund?

Since a refund takes much longer for paper filers, the IRS and tax professionals recommend electronic filing.

1 min read

Personal Taxes

What are tax withholdings?

If you are an employee, you have certainly noticed the taxes taken from your paycheck every month.

1 min read

Personal Taxes

Tips for How to Calculate Income on Your Rental Property

Own a rental property? As you know, the IRS requires you to report the rent you collect and pay income tax on those amounts.

6 min read

Personal Taxes

What Are Estimated Payments and Why Should I Make Them?

When you work a “traditional” job through an employer, taxes are usually pretty straightforward.

3 min read

Personal Taxes

What's an S election, and why should I make it?

For some businesses, electing to file for S-Corporation will be a wise choice.

2 min read

Personal Taxes

Filing an Extension on Your Taxes: What You Need to Know

Whether you'll be filing an individual tax return, a business tax return, or a combination of both, this can be a stressful time of year.

3 min read

Accounting Tips

The Ultimate Guide to Accounting Outsourcing

Running your own accounting firm or tax Preparation service is a stable and rewarding career -- but how do you deal with spikes in demand?

5 min read

Personal Taxes

What is the Standard Deduction?

The Standard Deduction allows you a deduction even if you have no expenses that qualify for claiming itemized deductions.

1 min read

Personal Taxes

Can I deduct my state taxes?

Deductible taxes include state and local income tax or sales tax, property tax paid during, and any other mandatory tax charged.

1 min read

Personal Taxes

7 Tax Tips to Maximize Your Refund

Seven ways to maximize your refund this tax season.

5 min read

Personal Taxes

What happens if I file after the deadline?

The penalty for filing late is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late.

1 min read

Personal Taxes

Top 8 Tax Mistakes to Avoid

Stay away from these tax mistakes to stay out of trouble with the IRS.

3 min read

Accounting Tips

Bookkeeping vs Accounting: Everything You Need To Know

Understanding the differences and commonalities between bookkeeping vs accounting can help your business’s financial strategy.

5 min read

Personal Taxes

What are tax credits?

Credits are generally created to encourage and reward certain behaviors that have been deemed beneficial by the government.

1 min read

Accounting Tips

How to Choose the Right Virtual Accounting Firm

How do you choose the right virtual accounting firm?

3 min read

Accounting Tips

15 Small Business Accounting Tips That Will Save Thousands

There are many ways for small businesses to enhance their financial standing, but strategic accounting is one of the biggest opportunities.

5 min read

Tax Tips

Unsure What You Will Get Back This Year? Here is How to Calculate Your Tax Refund

Learn how to estimate your tax refund using the Taxfyle calculator. Find out what information you need to estimate your income tax refund.

2 min read

Personal Taxes

Can I deduct my medical expenses?

Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of qualified medical expenses that exceeds 10% of their AGI.

1 min read

Personal Taxes

7 Ways to Reduce Employee Turnover

Focusing on your retention strategies is the most effective way to minimize the pain of employee turnover.

5 min read

Personal Taxes

Benefits of Outsourcing Your Firm's Tax Practice

Tax preparation outsourcing allows you to continue taking on new work without interruption and without making additional hires.

5 min read

Personal Taxes

Should I itemize my deductions?

To see if one should itemize their deductions depends if their allowable itemized deductions exceed the standard deduction for the year.

2 min read

Personal Taxes

Outsourcing & Its Unexpected Benefits

Although many consider outsourcing to be primarily a cost-cutting measure, this strategy offers several other unexpected benefits.

2 min read

Personal Taxes

Starting a business?

Are you starting a business? Learn which entity is right for you and your business.

3 min read

Personal Taxes

If I got a letter from the IRS, what do I do?

The first step is always to read the notice, then review the information and compare it with your original return.

1 min read

Personal Taxes

What is my filing status?

Selecting the correct filing status can be the first important step when properly reporting your tax return.

3 min read

Personal Taxes

How Much Should I Withhold?

In order to avoid an underpayment penalty, the government expects to have received a certain amount of money depending on several factors.

1 min read

Personal Taxes

What are sales taxes?

A sales tax is a direct tax on the purchase of goods and services that many states and local governments enforce.

1 min read

Personal Taxes

How much do I have to earn to file taxes?

A couple of factors have to be determined before you can properly determine whether you are below the income thresholds to file a return.

1 min read

Personal Taxes

When is the last day to file taxes?

Without an active extension in place, the last day to file your tax return is the original due date for the return.

1 min read

Personal Taxes

What is a tax extension?

The IRS offers an automatic six-month extension to file your taxes known as Form 4868 (Form 7004 for businesses).

1 min read

Personal Taxes

How to file taxes?

When filing taxes for yourself or for your business, it's good to start by knowing what form you will be filing.

1 min read

Personal Taxes

How long do you have to keep tax records?

Every tax return and supporting forms should be kept. These include 1099s, expense tracking, W-2s, and other documents.

1 min read

Personal Taxes

How am I taxed on crypto currencies?

Generally the IRS will treat convertible virtual currency as property using established tax principles applicable to property transactions.

3 min read

Personal Taxes

What is Adjusted Gross Income (AGI)?

If you have ever prepared your own returns you have probably noticed AGI. AGI is basically your total gross income less specific deductions.

1 min read

Personal Taxes

Does buying a house help with taxes?

Buying a home is a huge investment, and knowing the tax implications attached to this decision can be invaluable.

4 min read

Personal Taxes

Where is My Federal Tax Return? Find Out Where Your Refund is Now!

After you submit your federal tax return to the Internal Revenue Service, you wonder when you can expect your refund.

1 min read

Personal Taxes

Small Tax Refunds... Big Problems

As you've probably already heard from your favorite news sites, there are some changes in tax refunds this year.

2 min read

Personal Taxes

Why Was My Refund Delayed?

While everyone appreciates a timely tax refund, there are a few situations that might cause a return to be delayed.

3 min read

Personal Taxes

How to Turn Your Business Trip Into a Tax-Deductible Weekend Getaway!

With careful planning, you can still legally deduct all of your business expenses and maybe even cover some of your vacation costs.

3 min read

Personal Taxes

6 Quick Tax Tips for Independent Contractors

We've got a few tips and tools to help with the administrative/tax side of things that will help you start getting things under control.

3 min read

Personal Taxes

Your tax refund, the government shutdown, and the IRS

We would like to bring some facts to light that could have an impact on your finances as we start the new year.

1 min read

Personal Taxes

2018 Tax Deadlines

As Tax season approaches, we want to make sure you have your taxes filed on time.

1 min read

Personal Taxes

Is Incorporation right for Your Business?

The decision to incorporate your business could be a wise one.

4 min read

Personal Taxes

The New Tax Reform and its Impact on Sole Proprietors & Independent Contractors

We've broken down some of the more salient points to help you understand what to expect in the first year of the new tax law.

3 min read

Personal Taxes

What happens if I get audited by the IRS?

The best suggestion when dealing with an auditor in person would be to remain polite and organize all requested information beforehand.

1 min read

Personal Taxes

What if I can't afford to pay my taxes?

The IRS will agree to work with you to set up a payment plan so the liability can be paid off with minimal hardship.

2 min read

Personal Taxes

What should my withholding be to not make a payment at tax time?

Determining the exact amount of withholdings you should be making in order to avoid any payment at tax time can be difficult to determine.

1 min read

Personal Taxes

When should I get an accountant to help file my taxes?

There are a number of situations that would prove hiring a professional worth while.

1 min read

Personal Taxes

I'm married, but can I file my taxes married filing separately?

Married couples always have the option to file separately if they wish, however, the question in this scenario is why would they want to.

1 min read

Personal Taxes

What if I don't pay my taxes?

If you file your taxes but don't pay them, the IRS will charge you a failure-to-pay penalty.

1 min read

Personal Taxes

Why do I have to pay taxes?

If you owe taxes, it’s the result of your income exceeding your deductions and quarterly payments for the year.

2 min read

Personal Taxes

What is Social Security Taxes?

A Social Security tax is the tax used to fund the Social Security program, which is levied on employers and employees.

1 min read

Personal Taxes

4 Ways to Reduce Overhead Costs In Your Firm

Managing a firm is hard work and expenses pile up quickly. Here are 4 ways to reduce your overhead costs and help maximize your profits.

5 min read