In the upcoming 2020 election, a debate topic is going to be the concept of universal income. If you're new to the idea, there's a myriad of different variations, but the core concept is the government would provide basic income for everyone to cover your finances (or most of your monthly finances).
4 Things Your 2018 Tax Return Taught You
Filing Your Taxes The deadline for filing taxes was April 15th, 2019 and most individuals have already filed their fees. The tax period is over and you can go back to handling your finances properly in preparation for the next tax season in 2020. Unfortunately, putting taxes at the back of your
What Is Considered Taxable Income?
Taxable income is anything that you cannot deduct, cannot shield from taxes, and was earned through a non-exempt job. There are a few things you need to talk to your accountant about during the tax season, and taxable income is perhaps the most important of all these things. 1. What Is Taxable
Should I File An Extension?
The deadline for filing taxes is quickly approaching. There are many reasons people miss the deadline for filing taxes and the IRS, in most cases, understands this; it's why they have the Form 4868 available. If a person is unable to complete their taxes by April 15 then they can request a six month
How much should I save if I’m 1099?
There are a number of benefits to working for yourself. Being able to control your income, being able to work when you want to and having to answer to no one are big reasons why people opt to work for themselves. But with the sweet comes some of the sour and one of the difficult parts of owning your
Laws That Will Affect Your 2018 Tax Return
Congress has passed the largest piece of reform legislation in more than three decades. The Tax Cuts and Jobs Act (TCJA) went into place on the 1st of January, 2018. This means that the changes on this Act will affect the incomes of most taxpayers for the 2018 year. It may not be clear to some how
Do I Have To File Taxes?
You've probably heard it's tax filing season again. Like clockwork, it is back and you have seen the marketing efforts by companies notifying you to file your tax return: television commercials, pandora ads, billboards shouting for you to file your return. Do you find yourself left baffled at the
Carry Over Business Expenses
While every entrepreneur seeks profits, it's all too common to suffer losses. Carrying over expenses is when a business has undergone losses, and the business owner decides to carry over the loss to the next year; or even the previous year that your business was profitable. The carry over rule in