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Saving for Quarterly Taxes

By |2021-08-31T11:31:13-05:00August 31st, 2021|Categories: Transportation|

Hi Abe, How much should I be saving for my quarterly taxes? I’m glad you’re thinking ahead! It’s recommended for independent contractors to save between 20-30% of your Net Profit for both state and federal taxes. As a reminder, your Net Profit is the difference between your Gross Revenue and your business expenses. This is an [...]

Understanding Claiming Dependents on Your Individual Income Tax Return

By |2021-08-31T11:28:22-05:00August 31st, 2021|Categories: Transportation|

Year after year, we get questions on who can be claimed as a dependent on an income tax return. For some taxpayer’s the answer is easy, and for others, it can take a list of questions and answers to determine if the dependent is eligible for that taxpayer to claim. Two Main Credits for Claiming Dependents [...]

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