One big reason why freelancers don’t want to get paid as a 1099 independent contractor is that they are responsible for paying their own taxes. When you get paid as an employee, you don’t have to do much paperwork. But if you are a 1099 independent contractor, you probably have to pay quarterly taxes. However,…
Continue reading ›How tax debt is handled in an Elk Grove bankruptcy depends on several factors. Despite your preconceived notions, it is possible to eliminate tax debt with bankruptcy. When tax debt cannot be deleted using bankruptcy another option is to have the tax debt repayment spread over a period of up to five years. Whether you…
Continue reading ›Some of the most common questions we hear at our Sacramento bankruptcy office are centered on how bankruptcy affects tax debts. It’s not surprising that individuals want to know how filing a Chapter 7 or Chapter 13 bankruptcy will affect those tax debts imposed by the IRS. The good news is that in certain situations,…
Continue reading ›If you are lucky enough to get a tax refund this year, be thankful. Not everyone gets money back. A lot of people owe the IRS. How do you plan to use your tax refund this year? A vacation? A new purchase for the home? Don’t waste the money on something frivolous. Here are some…
Continue reading ›It is tax season once again. With it comes the dreaded April 15th deadline for filing taxes. If you are anticipating getting a tax refund are you really getting all you can? Follow these maximum refund tax tips to get the most of out of it. Maximum Refund Tax Tips First, consider skipping the standard…
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