Category: Taxes

July 5, 2023

Tax Benefits For Real Estate Professionals

Business, Start-Ups/New Businesses, Taxes

Are you a real estate professional looking to maximize your tax benefits? Here’s a couple of tax benefits you may not be aware of! Loss Can Be a Gain! Qualifying real estate professionals get two special exceptions that are tax beneficial: Losses greater than income can still be deducted Rental real estate losses can exceed…

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June 2, 2023

Why You Should Make Estimated Tax Payments

How To, Taxes

So – you’re here because you are thinking or have been told you need to make estimated tax payments? Most self employed individuals, including S Corporation owners, and many retired individuals find themselves needing to make estimated tax payments.  Here are the benefits: Helps with Cash Flow, no big scary bill in April Helps keep…

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January 9, 2023

Tax Time Checklist! For Personal Income Taxes

Taxes

For many the task of gathering tax time documents for your tax accountant feels like an overwhelming task.  We’ve put together a handy checklist of income and deductions & tax credit documents that will certainly help guide you through the process.  It may even inspire you to ask about deductions you might be missing out…

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October 11, 2021

How to Pay Taxes as an Independent Contractor

Business, Start-Ups/New Businesses, Taxes, Uncategorized

Did you know as an Independent Contractor, You are now a business!? Whether it’s a side hustle or your new career path, things change with taxes when you agree to work as an independent contractor. The IRS requires businesses and individuals to report any payments made to any individual in excess of $600 to be…

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Ready to Find Out How We Can Work Together?

Melissa Calwell, CPA,EA,MBA has over 30 years of hands on experience working directly with business owners in both the private sector and through public accounting. Her depth of knowledge and expertise in all areas of back office operations and accounting is the magic of Fortitude Tax & Accounting. Years of experience in the field has allowed her to observe and implement solid systems and processes that work and make the tasks of compliance and accounting in your business feel easy!

Contact us today for an assessment on your business and solutions that are designed just for you!