How to Claim the Standard Mileage Deduction
If you work for yourself, deducting your driving expenses can give you significant tax savings. Learn more about the Standard Mileage Deduction here. Working for yourself comes with lots of perks. One of them is the ability to deduct all kinds of expenses, which...
I filed a tax extension – what now?
Three tips on what to do after filing a tax extension If you weren’t done with your tax return in time to file by April 18, filing for a tax extension was a smart move. When you complete Form 4868, Application for Automatic Extension of Time to File, you get an extra...
Tax Extensions 2023
Tax Extensions in 2023 For most individuals and small businesses, federal income tax returns for 2022 are due this Tuesday—April 18, 2023 (multi-member LLCs, S corps, and partnerships were due March 15). If you’re feeling stressed about meeting the deadline, we’ve...
What is a SEP IRA?
What Is SEP IRA, and How Do They Work? A Simplified Employee Pension IRA, also known as a SEP IRA, is an individual retirement account (IRA) for people who are self-employed or own a small business. What is an IRA? An IRA is an individual retirement account that...