Smart Tax

Working in the gig economy is an exciting opportunity - but you'll want to ensure that your tax obligations are taken care of, too! Understanding how taxes apply to freelance work can be a tricky thing. Read on for helpful advice so you don't find yourself facing penalties from the IRS due to common errors and omissions.

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Avoiding Common Tax Problems for Gig Economy Workers | www.financialhotspot.com The gig economy refers to the jobs and workers that fall outside of the traditional long-term employment structure. Freelance professionals, contractors, and part-time workers for mobile service providers like Lyft, UberEats and Wag! are all a part of the gig economy. This form of work has become po...

Are you preparing to sell your business? One of the most important steps is reviewing your books with us to make sure your financials are in order and appropriate adjustments should be made. We're here to help you every step of the way! To schedule a consultation, contact us at (718) 222-0006.

Tips for preparing to sell your business | PropertyCasualty360 Before selling your business, it is important to gauge its attractiveness to potential buyers and your readiness to hand over the reins.

Don’t think you earn enough to save for retirement? You may be eligible to save and get an tax credit. The lower a person’s income, the higher the credit available. Learn more at http://irs.gov/saverscredit

Creating and reaching your financial goals helps you create the future you truly dream of. Contact us today for assistance with your finances! To schedule a consultation, contact us at (718) 222-0006.

Here are a few tips to help you develop a scalable accounting strategy that supports your business growth.

Do you have accounting questions? We have the answers! Talk to us at (718) 222-0006.

Creating a Scalable Accounting Strategy for Your Business | www.financialhotspot.com Growth is a great thing for every business, big and small. When your business grows, you have the opportunity to expand your team, open new offices, and cater to more customers. Although seeing real progress for your business will leave you feeling great, handling your technical accounting responsib...

Do you know the difference between SEP IRAs and Roth IRAs? Both SEP IRAs and Roth IRAs require that some sort of contribution is made into the account and both are eligible for tax-free rollovers when switching retirement plans. To schedule a consultation, contact us at (718) 222-0006.

SEP IRA vs. Roth IRA: Which Retirement Account Is Right for You? While working folk may have an IRA in place, here's the difference between a SEP IRA vs. a Roth IRA. It's important to know the difference.

Individual or a business, filing your taxes on time is vital to staying in good financial standing! Contact us today for assistance with filing your taxes . To schedule a consultation, contact us at (718) 222-0006.

If you're a fellow business owner, we know you have a lot on your plate. We're here to help you manage your finances efficiently, and comply with all legal tax regulations which your business requires. To schedule a consultation, contact us at (718) 222-0006.

Legacy planning is a complex process, and individuals may find themselves wondering which route to take. Consider the two main options: creating an estate or placing assets in a trust - both of which offer their own unique benefits depending on one's particular needs and objectives. To aid you in selecting your plan, here are some key insights into each option.

To schedule a consultation, contact us at (718) 222-0006.

What’s the Difference Between a Trust and an Estate? | www.financialhotspot.com Long-term financial planning includes leaving a legacy for your loved ones. The simple part is knowing you want to provide for those you care about. The more complicated part of the process is figuring out how to best do so. Common choices for legacy planning include a trust or an estate, each with....

As a taxpayer, it is important to know your responsibilities. This includes if you’re required to file a tax return or not. Generally speaking, most American citizens and permanent residents who work in the United States need to file a tax return if they earn more than a certain amount of income for the year. You could face a penalty if you are required to file a tax return but fail to do so. If you are unsure if you need to file a tax return or need assistance with the tax filing process, give us a call at (718) 222-0006 – we would be happy to help you!

You don't get into a good financial position overnight. It takes time, hard work, and persistence to develop strong money management skills. So don't get discouraged! Take every day one step at a time, and soon you'll be the money management expert you aim to be. Contact us at (718) 222-0006

Large purchases should never be made on an impulse. Avoid financial commitments without a well-thought-out plan by considering the pros and cons of big purchases for at least 24 hours before buying. We'll save you hours of confusion and stress - you can count on that! Contact us today at (718) 222-0006 for more information about our services.