3 Common Mistakes Sole Proprietors Make On Their Taxes
Do you run your own business? There are many ways you can set up your business, but a sole proprietorship is often the simplest, especially if you don’t have employees or complicated business arrangements. As a sole proprietor, you can file your business taxes on your personal return. That can simplify the reporting process and make it easier for you to file your returns. However, even if you file as a sole proprietor, there are still a few tax complications to consider.
Family Members Living With You? 4 Reasons That Could Help Your Taxes
More and more Americans are helping provide a home and support for other family members. This often includes adult children and older relatives. And if you’re in this situation, you’re surely doing so out of love and concern. But you can get some financial help on your tax bill that you may not be aware of. Here’s how. Dependency. Many people aren’t aware that they can sometimes claim as dependents adults and minors who are not their own children.