Tag Archives: Taxes

Business Current Events, Taxes

I missed my 1099s deadline. What do I do now?

Posted on by Martin Kamenski

You’ve just received a heartstopping email. One of your vendors is asking why you didn’t send them their 1099. The deadline has long since passed, and now you’re half expecting the IRS to bang down your door threatening audits and penalties. What do you do? Don’t panic Around February of every year, we see a […]

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Business/Growth, Taxes

How do I make a plan knowing my book royalties aren’t forever?

Posted on by Martin Kamenski
02
Mar

There’s nothing more thrilling than opening your first royalty check. The hours and hours of hard work you put into your book are coming to fruition, and now you have a nice juicy deposit for the bank. But, soon after that excitement, the doubt starts pouring in. How can you live off one or two […]

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Business/Growth, Taxes

How do I turn my hobby into a creative business?

Posted on by Martin Kamenski
creative business cpa
15
Feb

What’s the difference between a hobby and a business? For most of us, this line can get pretty blurred, especially when you’re striving to build a business out of your creative passion. But, in the eyes of the IRS, there’s a very clear distinction: Businesses can offset losses against money they make elsewhere. Hobbies can’t. […]

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Business Current Events, Taxes

Are my client gifts tax deductible?

Posted on by Martin Kamenski
09
Dec

      Nothing gets us all in the giving mood like the holiday season. After a long year, you’re looking to spread a little extra cheer and goodwill to your employees, clients, and associates in the form of some thoughtful gifts. But you find yourself wondering: is that box of chocolates or basket of […]

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Taxes

Tax Season FAQs

Posted on by Martin Kamenski
29
Sep

We’re excited to work with you this tax season! Here are a few frequently asked questions we’ve heard over the years. Have a question you want to add to the list? Leave us a comment below or send us an email at hello@revelcpa.com! How do I get my tax forms and other documents to Revel? […]

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Business/Growth, Taxes

R&D Tax Credits: All Your Questions Answered 

Posted on by Martin Kamenski

You might not think what you do as a creative entrepreneur counts as “research and development.” You’ve heard about R&D Tax Credits before but never thought you could be eligible for them. In fact, more businesses than ever are able to take advantage of these reductions on state and federal tax responsibilities, including those in […]

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Business/Growth, Community, COVID-19

Who do I turn to when times are tough? 3 ways your CPA can (and should) support you.

Posted on by dijifydevs

If the 2020 year taught business owners anything, it’s that many were drastically unprepared for the unexpected. As Wolfgang Schaefer, owner of Uncle Wolfie’s Breakfast Tavern put it, “We were about to have our best year yet. Everything was planned for around that huge year. And there was NO contingency plan. None.” When things are […]

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Business/Growth, Taxes

I can’t pay my full tax balance right now. What do I do?

Posted on by dijifydevs

“My business had a much better year than I was expecting and the quarterly estimated payments I sent in weren’t even close to covering what I owe the IRS.” “I just got into the freelance/self-employed/independent contractor world and was introduced to self-employment tax.” Are you in a position where you’re unable to pay your full […]

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Taxes

Should My Spouse and I File Taxes Jointly or Separately?

Posted on by Martin Kamenski

“I make more money than my spouse, should we file separately?” “My partner is still paying back student loans, so we have to file separately to keep their income down, right?” We hear it all the time… Thankfully, when most people come to us asking about the benefits of Married Filing Jointly (MFJ) status vs […]

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