tax filing

Who is required to file a tax return? Does everybody who makes money have to file a tax return? If you make less than $10,000 do you have to file taxes? I answer these questions and give you the rules in this episode!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

In this podcast episode, we will discuss how to manage sales tax for your ecommerce business. Our featured guest on the show is Jared Smithson, General Manager at RJM Tax Exemption.

On the Show Today, You’ll Learn:

• How to avoid common tax pitfalls and ensure long-term financial success.
• How merchants can ensure tax compliance before selling in the US.
• How businesses can calculate and display taxes on their product detail pages.
• How Shopify helps e-commerce businesses calculate and manage sales taxes.
• Potential consequences of mishandling sales tax for your business.
• How businesses can rectify past sales tax compliance issues.
  
  

Links & Resources

Website: https://www.rjmtaxexemption.com/
LinkedIn: https://www.linkedin.com/company/rjmtax/
Instagram: https://www.instagram.com/rjmtaxexemption/
Facebook: https://www.facebook.com/rjmexpand/

Get access to more free resources by visiting the podcast episode page at
bit.ly/462NSE9


Episode Sponsor

StoreHero: The ultimate profit platform for ecommerce brands & agencies. Centralize your ecommerce, marketing & finance data for a crystal-clear view of unit economics, margins & profitability. Save 10+ hours weekly and gain insights into contribution margins. Equip your business with the tools for sustainability and profit. Log in to storehero.ai and start making informed decisions today!

For inquiries about becoming a guest or sponsoring the podcast, email claus@clauslauter.com.

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This week on Shunya One, Shiladitya is joined by Subramanya S V, CEO and co-founder of Fisdom. In the episode, Subramanya takes us through the journey of Fisdom where customers access a holistic set of financial products including stocks, mutual funds, pension funds, sovereign bonds, insurance, and tax filing. He also shares some of the challenges he faced while starting a fintech company and building trust in the consumer. Tune in to know more. 

Follow Subramanya S V on:
LinkedIn: https://in.linkedin.com/in/subramanya-s-v-1864982

Twitter: https://twitter.com/Subramanya_SV

You can get in touch with our host: Shiladitya Mukhopadhyaya

LinkedIn: ( https://in.linkedin.com/in/shiladityamukhopadhyaya )

Twitter: ( https://twitter.com/shiladitya )

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Book your FREE consultation at https://choicetaxrelief.com/free-cons... or by calling 866-8000-TAX!

What is the deadline to file taxes for missing stimulus checks?  Is it tomorrow?  Or this Thursday?  In this episode I tell you everything you need to know if you are still missing your stimulus checks — including the EXACT deadlines you need to file your 2020 / 2021 tax returns by to get your first and second / third stimulus payments if you never received them.

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

➡️ CBS News Article From October 2022: https://www.cbsnews.com/news/stimulus...

➡️ CBS News Article From November 2022: https://www.cbsnews.com/news/stimulus...

We often get asked, “Who should I hire?”. If you’re a small business that is experiencing growth and it's time to add to your team, what’s the right decision: Employee or Independent Contractor? There are many different laws, rules, stipulations, and tax requirements that can help you make decisions.

What does the law say?
If you’re considering hiring an employee or an independent contractor, be sure to check Common Law and Safe Harbor rules to see how they apply to your situation.

Common Law:
Behavioral - What control does the employer have over how, when, where, and even who does the work?

Financial - What financial responsibilities fall on the employer vs the worker? Who pays for tools and other materials?

Relationship - How do the employer and the worker view the business relationship? Is there a written contract describing roles and responsibilities

Safe Harbor:
Reasonable Basis - Are you following industry standards?
Reporting Consistency - Are you filing the same for the worker year after year?
Substantive Consistency - Are you treating all workers of the same situation the same?

The Pros and Cons
Beyond the laws and rules, there may be options that seem attractive for both situations to hire an employee or an independent contractor. Employees can provide more stable, consistent, permanent work but also require more of an investment with quarterly tax deposits and insurance benefits. Independent Contractors require less investment upfront but need more flexibility and freedom from the employer which can be a concern for security or client lists.

Tax Documents
Once you’ve decided on what type of worker you will hire, you need to ensure you’re filing the proper tax documents. Both situations require specific documents needed, even at the time of hiring. Do you need a W9, W2, 1099 or something else entirely?

Be sure to listen to the full episode for all the details on these important points! If you find this episode helpful, find us on YouTube and like and subscribe.

What’s Inside: 

• What is the difference between an employee and an independent contractor?
• What are the Common Law rules?
• What are the Safe Harbor Rules?
• What are the pros and cons for employees and independent contractors?
• What are the tax documents and obligations for employees and independent contractors?

Mentioned In This Episode:
Modern CPA Online
ModernCPA - YouTube

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We are working on new podcast content that will be releasing soon! In the meantime we prepared this bonus episode as an invitation for you to sign up for our Tax Prep Suite service. If you're struggling with keeping up with quarterly taxes and tax time causes you anxiety, this service is for you. We take care of all your tax needs throughout the year. We are accepting new clients through the end of the year but early bird pricing is only good through the end of October 2020 (a savings of $1,500).

Learn more at www.littlefishaccounting.com/tax-prep-suite.

Spring tax deadlines are coming up fast, and many businesses and individuals are once again dealing with a complex tax situation. You may be wondering: Is there any way I can lighten the load? Today, John and Josh are discussing what it means to extend your tax return filing deadline. Listen in to learn how you or your business may benefit from filing for a tax extension. 

BNN Tax Snacks is a podcast from Baker Newman Noyes covering timely and impactful federal and state tax developments affecting our clients, friends, and other listeners. In the tax world, the impact of 2020 will be felt for quite some time. In the next several episodes of BNN Tax Snacks, you'll hear from a few of our tax specialists about business and tax topics directly related to the COVID-19 pandemic, the tax law changes it set in motion, and what those changes mean to individual taxpayers as well as businesses.