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I Formed an LLC. Does That Change How I File My Taxes?
You formed an LLC. Congratulations! Now comes a question we hear all the time: “So…how do I file my taxes now?” A lot of business owners assume that forming an LLC automatically determines how their business will be taxed. But here’s the important part: An LLC is a legal business structure. It is not, by…
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How Much Should I Save for Taxes as a Self-Employed Business Owner?
“Just tell me the percentage.” I hear that all the time. Sometimes it’s from someone who just landed their first client. Other times it’s from a business owner who’s been self-employed for years but was caught off guard by a tax bill they weren’t expecting. The question is always the same. “How much should I…
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Why Do I Owe So Much in Taxes Now That I’m Self-Employed?
“Last year I got a refund. This year I owe over $8,000. What happened?” If you’ve asked yourself that question, you’re not alone. In fact, it’s probably one of the most common conversations I have with new business owners. A client sits down across from me, looks at the tax return on my screen, and…
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Welcome to the Ink & Ledger Tax Blog
Thank you for visiting our new Tax Resource Center. Here you’ll find monthly tax updates, IRS news, tax planning tips, and helpful information for individuals and small businesses.