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Filing Taxes as a Freelancer can be overwhelming.

Filing Taxes as a Freelancer can be overwhelming. I hope these Tax Tips will help clear some of your questions up and have you better prepared to file your Tax Return. Link in bio to my Blog!

Tax Season is officially here and I am so excited

Tax Season is officially here and I am so excited to be hosting a @ladiesgetpaid Webinar! Tax Prep for Business Owners is all about how to get you and your business prepped and ready to file your taxes with ease.
To register, the link is in bio! Hope to see you there! 🤓

Happy Thursday! 🤓 All smiles here as ETS is gea

Happy Thursday! 🤓 All smiles here as ETS is gearing up for the upcoming Tax Season! I ran a special last month for my email subscribers to have a discounted Year End Tax Session. I have met so many amazing Entrepreneurs! I am so grateful for the ability to connect with so many amazing people! If you are on the fence about starting that Business, or creating that product, DO IT. You can literally create the life of your dreams just by believing in yourself. ❤

#ea #taxes #savvybusinessowner #femaleentrepreneur

#ea #taxes #savvybusinessowner #femaleentrepreneur #mondaymotivation #exceptionaltaxforcreatives #creativeentrepreneur

If you receive a Tax Bill from the IRS and cannot

If you receive a Tax Bill from the IRS and cannot pay the full balance, you do have options. ⁣
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What are some common reasons why you owe the IRS? ⁣
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1. For the Taxpayers who receive a W-2, not paying enough federal income tax withholding would be a common reason for receiving a Tax Bill. ⁣
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2. For the Taxpayers who are self employed, not making adequate estimated tax payments would be one. ⁣
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If you are receiving a W-2, check to make sure you do not need to increase your withholding. ⁣
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If you are self employed, make sure that you have an estimate of what your quarterly income tax payments are and make those payments during the year at the appropriate quarters to prevent a tax bill plus penalties and interest. ⁣
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There are payment plans available if you cannot pay the full balance off. Here are the two most common payment plans: ⁣
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1. Extension of time to pay: ⁣
The IRS will grant you up to 120 days to pay the full balance off. There is no set up fee to set this payment plan up. ⁣
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2. Installment Agreement: ⁣
This is the IRS's structured payment plan where you will send them one monthly payment by a certain date each month. There will be a setup fee applicable to this payment plan. ⁣
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No matter which option you choose, penalties and interest will continue to accrue until the balance is full paid. The Payment Plans with the IRS does not stop this unfortunately. Try to pay as much down as you can to reduce the amount that accrues on your balance.

Instagram post 2164684698545035762_4777745406

Instagram post 2164684698545035762_4777745406

Yes, ABSOLUTELY! Keeping your receipts are a part

Yes, ABSOLUTELY! Keeping your receipts are a part of good Bookkeeping practices for your Business. If your Tax Return is ever audited by the IRS, you want to be able to show substantiation, if necessary, to your valid business expenses right? Here are some ways to keep your Business Receipts: ⁣
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1. Your Accounting Software. Most Software's have document attachment features where you can add a receipt to the actual expense transaction. ⁣
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2. Google Drive- You can download the Google Drive app and snap photos of your receipts or add any email receipts to a designated folder. ⁣
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Keeping your receipts are a good habit to create and will assist in audit proofing your Business.

You become what you believe.

You become what you believe.

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