It’s important that you don’t need to work on deadline in April to get your taxes ready. That’s where our business tax services can help. Here’s a few excellent tips to make sure everything is in order. Keeping your personal and business expenses in separate corners is mandatory. Many business owners accidentally blur the lines […]
Tag: Los Angeles Tax Preparation
An ITIN Overview
An Individual Taxpayer Identification Number (ITIN) is an important piece of documentation that is issued by the Internal Revenue Service. It is a tax number that’s used for processing and it always begins with the letter nine. These only have one intended use and that’s federal tax reporting. They are used for foreign nationals who […]
Tax Implications Of The Sharing Economy
If you are an Uber or Lyft driver, rent out a room through Airbnb or provide a number of other goods or services through an online platform, you are involved in the “sharing economy.” This is also known as the on-demand, gig or access economy. In the last few years, the sharing economy has emerged […]
Do I have a hobby or a business for tax purposes?
Many people choose to pursue a hobby such as jewelry making, boat racing, coin collecting, baking, photography or showing dogs. A hobby is something you pursue as a sport or for recreation or because you are passionate about it, but not to make a profit. However, you can make money from some hobbies and incur […]