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Do you have any questions?

frequently asked questions

April 15th unless the date falls on a holiday or weekend.

If you have a profit it is possible to deduct expenses for home office use.

The easiest way to report is to use 8949 and upload your broker statements or composite statement. It saves time from entering each item separately.

Unemployment benefits are not calculated to determine eligibility for earned income credit. It is best to have federal and state taxes withheld to help with any possible tax liability.

Only if you are able to exceed your standard deduction and itemize your expenses on Schedule A.

Absolutely, but it depends also on the type of business structure you are. An individual business owner, aka, sole proprietor may consider filing even if no income because the startup costs may assist in lowering your taxable incline due to a small loss. SCorp, Partnerships,and CCorps are required to file even if they have no activity. Failure to do so could result in penalties which could be costly. Always remember that income and expenses can only be taken in the year in which they accrued.

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