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Tax Strategy

Home Office vs Corporate Rent | Incite Tax

Home Office vs Corporate Rent

By Blog, Tax Deductions, Tax Strategy, Taxes No Comments

Home Office vs Corporate Rent Tax Deductions Are you tired of struggling with the complexities of home office deductions? Does the thought of being audited by the IRS make you break out in a cold sweat? Well, fear not my fellow business owners, because I’ve got the solution for you: the Augusta rule. Let’s talk about home office vs corporate rent tax deductions. Yes, you…

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Should I Worry About 1099's

Should I Worry About 1099’s?

By Blog, Business, IRS, Payroll, Tax Strategy, Taxes No Comments

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…

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Small Business Taxes for Beginners

Small Business Taxes for Beginners

By Business, IRS, Tax Strategy, Taxes No Comments

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…

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What triggers an irs audit

What triggers an IRS audit?

By IRS, Tax Strategy, Taxes No Comments

 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…

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How to do taxes for the first time?

How to do Taxes for the First Time

By Tax Strategy, Taxes No Comments

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…

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