Individual taxes, IRS Collections
Offer in Compromise vs. Installment Agreement: 5 IRS Payment Plan Insights When facing IRS debt, many taxpayers—especially side hustlers and small business owners—find themselves weighing Offer in Compromise vs. Installment Agreement. Both are official IRS payment...
Business taxes, Individual taxes, Side Hustle
3 Simple Ways to Track Side Hustle Income Without Stress Running a side hustle is exciting, but when tax season rolls around, the bookkeeping side of things can feel overwhelming. If you’re driving for Uber, selling on Etsy, or freelancing online, every dollar...
Individual taxes, Business taxes, IRS Collections, Liens and Levies
Lien vs Levy: 17 Essential Differences You Must Know If you owe back taxes, you will eventually hear the term lien vs levy. These are not the same thing. A lien is the IRS’s claim against your property for unpaid taxes, while a levy is the legal seizure of that...
Individualtaxes, Tax Credits, Tax Planning
7 Essentials: Child and Dependent Care Credit 2025 The Child and Dependent Care Credit 2025 helps working parents and caregivers offset childcare costs so they can work or look for work. Understanding who qualifies, which dependent care expenses count, and how to file...
Business taxes, Side Hustle, Tax Planning, Uncategorized
Form 1099-K vs. 1099-NEC: What Side Hustlers Need to File in 2025 If you run a side hustle in 2025, understanding Form 1099-K vs. 1099-NEC is essential for accurate tax reporting. These two IRS forms often cause confusion for freelancers, gig workers, and online...
Tax Planning, Business taxes, Side Hustle
How to Report Side Hustle Income (Even If You Didn’t Get a 1099) If you run a side hustle, you must report side hustle income to the IRS — even if no one sent you a Form 1099. Whether you’re freelancing, driving rideshare, selling online, or doing gig work, all side...
AMT, Estimated Payments, Individual taxes, Uncategorized
AMT 2025 Exemption Changes: Who’s Affected as Exemptions Shift Alternative Minimum Tax (AMT) exposure is shifting again in tax year 2025 due to inflation adjustments. If you’re a higher‑income filer—or you expect a large year‑end event like stock option exercises or...
Individual taxes, Tax Planning, Tax Policy Updates
No Tax on Tips Act (2025–2028): What Service Workers Need to Know Focus Keyword: No Tax on Tips Act The No Tax on Tips Act, signed into law in 2025, offers a groundbreaking tax break for tipped workers. Under this temporary provision, eligible service employees can...
