Business Income

Form 944 is a great step to reduce the compliance burden for the smallest employers. As you must be aware that an employer is required to withhold taxes from employee wages, then file and deposit the payroll taxes. After that, company…

Can a self employed Individual claim health insurance deduction from taxable income? The answer is definitely yes. Anyone who has self-employment income can claim health insurance deduction, not only for the premium paid for himself but for…

The Tax Cuts & Jobs Act has brought a new provision in the Internal Revenue Code to provide  20% tax deduction for all self-employed or freelancers or estate or trust from a partnership, S corporation or sole proprietorship or s…