Self Employment Tax Tips : Tax Tips for Temp Employees

Hi, I’m Tom Choisnet, enrolled agent. This section is about statutory employees which is an interesting moniker given to people who work out of their home in certain life insurance salesmen and other people who can deduct their expenses toward adjusted gross income much the same as I mentioned with qualified performing artists. I have […]

Tax Deduction Tips for Businesses : Sub Chapter S Corporation Tax Tips

Hi, I’m Tom Choisnet, enrolled agent. I’m continuing now about real property taxes. I separated this out because I wanted to bring focus to taxes on property that you may overlook. One thing comes to mind, the Time Share that many of us have. Parts of those annual fees that you pay do go to […]

1tap receipts – Automated Self Assessment app for Sole Traders – Never Miss another Tax Deduction!

your self-assessment can be painful and most of us end up paying more tax than needed and what about those expenses I’ve got a couple of receipts in my wallet, another dozen in the car, and a wad of invoices and bills on the dining table at home. It’s a nightmare, and to top it […]

Taxation Tacos – Tax Tips for the Self Employed

Self-employed taxpayers normally earn income by carrying on a trade or business. Here are six important tips from the IRS for the self-employed: Self-Employed Taxpayers. Sole proprietors and independent contractors are two types of self-employment. Taxes can be complex for the self-employed. Check out the IRS Self Employed Individuals Tax Center. Estimated Tax. Self-employed taxpayers […]

Registering for Self Assessment

One of a series of videos about online Self Assessment tax returns. If you need to complete a tax return, you’ll need to register with HMRC. If you’re self-employed you need to register for Self Assessment and Class 2 National Insurance if any of these apply. You need to do this as soon as possible […]

Tax Deduction Tips for Businesses : Filing Accrual Accounting for Taxes

Hi, Tom Choisnet, enrolled agent. This particular segment is on vehicles and appraisals. It wasn’t too long ago that people were deducting the full market value of the old beater that wouldn’t run anymore by giving it to charity. The IRS has caught up to us on that. They’ve tightened it up quite a bit. […]

Self Employment Tax Tips : 50 Percent Rule for Self Employment Tax

Hi, I’m Tom Choisnet enrolled agent and we are having a discussion right now about the fifty percent entertainment rule. The general rule on entertainment expenses, meals and entertainment is that fifty percent of the expense is deductible, rather than the whole amount as in the old days. I might make a quick mention here […]

Self Employment Tax Tips : Debt Cancellation: Self Employment Tax

Bye, hi, I’m Tom Choisnet, enrolled agent and we are going to talk some more, as I was with a client, about cancellation of debt. What cancellation of debt is about is where a lender forgives part of the obligation and therefore creates an income to you for the amount of forgiveness of the debt. […]

Your income from property tax return

This is one of a series of videos about online Self Assessment. On your Self Assessment tax return you’ve said you have income from UK property over £1,000 including foreign property income. This is the section of the tax return you go to. Don’t start filling in this section if: ● you receive income from […]

Self Employment Tax Tips : How to Deduct Volunteer Charity

Hi, I’m Tom Choisnet, enrolled agent; and here we are going to talk a little bit about volunteer charity. I didn’t cover it in the earlier segments on charity but it is worthy to know because while your time itself is not deductible, you can build up a pretty good little deduction here. The mileage […]

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