Classifying Hobby and Business Income
Whether you’re an entrepreneur looking to turn your passion into profit, or a hobbyist seeking to maximize your enjoyment while minimizing your tax burden, this
Ecommerce Tax
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Reporting Payment Card and Network Transactions on Form 1099-K
If you work for yourself and get paid through online payment services like PayPal or Square, you might receive a form called a 1099-K. This form shows how much money you received through that service during the previous year.
Even though it might seem like just another boring tax form, it’s actually really important to understand what it is and how to use it for your taxes.
February 3, 2023
Taxes for Venmo, PayPal, Zelle and more
In today’s digital age, more and more people are using money-transferring apps like Venmo, PayPal, Cash App, and Zelle to transfer money to friends, family, and businesses.
While these apps are convenient and easy to use, they may also come with tax problems.
January 19, 2023
Taxes for Sellers Facebook Marketplace, eBay, and Etsy
Are you ready to take your e-commerce business to the next level? Well, you’ve come to the right place. This guide will give you a crash course on all the tax considerations and obligations for selling on eBay, Facebook Marketplace, and Etsy.
January 9, 2023
What is the Trust Fund Recovery Penalty?
The Trust Fund Recovery Penalty (TFRP) allows the IRS or a state tax board* to hold individuals personally liable for
June 22, 2021
What is Sales Tax Nexus?
Failing to keep track of your sales tax nexus can lead to massive tax bills from multiple states.
January 25, 2021
California Is Hunting for Income Tax from Out-of-State Sellers
Does your ecommerce business sell to customers in California? Then you may receive a notice from the state’s Franchise Tax
October 29, 2020
Is eBay Imposing Illegal Sales Tax on Exempt Items?
After a new Illinois law went into effect on January 1, 2020, which requires state residents to pay sales tax
January 21, 2020
Did California Send You A Crazy Sales Tax Bill? Here’s Why and What To Do
Has California’s tax authority lost its mind? According to thousands of Amazon sellers, the answer is YES! To fill state
December 3, 2019
Self-Employment Tax Tips: Paying Quarterly Taxes
Generally, people who earn over $12,000 a year must pay taxes, and self-employed people might need to pay “estimated” taxes
September 16, 2019
Why Aren’t You Using the R&D Tax Credit? Yes, You!
It’s now possible for more businesses to use the R&D tax credit. What is the Research and Development Tax Credit?
August 28, 2019
Don’t Be A Fool! Take Advantage of the Illinois Tax Amnesty Program!
Have you heard about the Illinois tax amnesty program? If you haven’t paid Illinois State taxes over the past several
July 24, 2019
California’s New Online Sales Tax: What Online Sellers Need to Know
California has a set of new online sales tax standards. All businesses with an e-commerce arm should familiarize themselves with
May 13, 2019