by Anil Melwani | Oct 6, 2016 | FAQ
Airbnb income is reportable on Schedule E of the tax return, the same as any rental income. Whether you’re renting out an apartment or home for one month, one year, Airbnb for just a few nights a year, it’s all reportable on the Schedule E of the... by Anil Melwani | Oct 6, 2016 | FAQ
You can definitely get multi-state credits in New York state. If you are earning income and, or paying taxes in another state, you will get a credit in New York State on taxes paid in your home state. by Anil Melwani | Oct 6, 2016 | FAQ
The quarterly estimated tax payments are April 15, June 15, September 15 and January 15. For clients that are interested in keeping up with those, we give them the vouchers for the next … for the whole year. If their income and expenses are generally... by Anil Melwani | Oct 6, 2016 | FAQ
Most of the time, it benefits freelancers to pay their taxes quarterly, yes. If it’s a side thing and your income’s really low, then sometimes it doesn’t make sense to do it quarterly; it makes sense to wait until the end of the year. If... by Anil Melwani | Oct 6, 2016 | FAQ
Tax audits occur for a variety of reasons. One of the biggest schedules to get audited is the schedule C, the self-employed schedule, because you have the flexibility there to take a large amount of write-offs, so when people abuse that privilege of the... by Anil Melwani | Oct 6, 2016 | FAQ
Penalties and interests, whether it’s IRS or New York state, is usually a percentage of what you owe. Another thing a lot of people don’t know is, if you don’t owe any taxes, you may not even have penalties to deal with. It’s just on...