What are the most commonly missed tax deductions? Tax season can be a real headache for many people. With so many forms, numbers, and deductions to keep track of, it’s easy to miss some important tax breaks that could save you a bundle. But fear not! We’ve compiled a list of the most commonly missed tax deductions, so you can keep more money in your…
Should I Worry About 1099s? No…and yes. If you’re a freelancer, gig worker, or independent contractor, you’re probably familiar with the infamous 1099 form. But if you’re new to the game, you might be wondering: Should I Worry About 1099s? First of all, what is a 1099? It’s a tax form that’s used to report income that’s not earned as an employee. If you’re a…
Small Business Taxes for Beginners As a small business owner, you’ve got loads of priorities, fires, and problems… I know, because I’ve been there, walking in your shoes… There is a never-ending list of tasks and responsibilities that all fall on your desk. “The buck stops with you.” as they say (I think that’s what they say!). All of these fires are really getting in…
What triggers an IRS audit? If you decide to file your own tax returns, what triggers an IRS audit? We’ve covered a couple videos recently about red flags and what to be aware of so you won’t be audited. We will link that video in the description of this video. I’m going to go over a couple more red flags today. Filing a Schedule C…
How to do taxes for the first time? Let’s start with brackets. The first thing we look at is the filing status, because each status has a different tax bracket: single, married filing jointly, head of house, married filing separately and surviving spouses. Each is a separate tax bracket. Know your tax bracket Single is pretty obvious. Married, filing jointly, if you’re married and you…
How can I file my personal taxes by myself? First thing I’ll say is don’t fill out the forms by yourself, by hand. Everyone I know who has filled out papers by hand has been audited, because at a minimum they have messed up some calculations. If you’re going to file it by yourself the first thing you need to know is that you need…
Incite Tax & Accounting is a Certified Public Accountant (CPA) firm with offices in Draper, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
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