If you are one of the millions of Americans who collected unemployment benefits in 2020, you may be in for a surprise. Many do not realize that unemployment income is taxable. If you do not set aside money to pay these taxes or have them withheld, you could owe...
The Employee Retention Credit is a fully refundable tax credit for employers based on qualified wages that Eligible Employers pay their employees (wages paid after March 12, 2020 through December 31, 2020 CARES ACT and January 1, 2021 through June 30, 2021 CAA 2021)....
Tax scams are becoming far more frequent and sophisticated due to the conditions of the pandemic. According to IRS Commissioner, Chuck Rettig, “Tax scams tend to rise during tax season or during times of crisis, and scam artists are using pandemic to try...
Tax Deductions for Freelancers and Self-Employed Workers There are various deductions that freelancers and self-employed workers qualify for if they file Schedule C or Schedule C-EZ. If you were self-employed during the previous year or earned any freelance...
In a struggling economy where so many are shifting focus to make ends meet, more people are steering toward becoming independent contractors. The popularization of the “gig economy” by companies such as Uber and Instacart and the coronavirus pandemic...
The coronavirus pandemic (“COVID-19”) moved the deadline for filing your federal tax return to July 15 and many states, including Louisiana, matched that deadline for filing state returns. But tax returns are being filed at a slower rate than previous...
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