Header Right

Do You Run Your Own Small Business? Read This!

by

The rise of e-commerce has created a rise in the amount of people looking for self-employment—and why not? Running an online store, marketplace, or business is an excellent way to make money, and in most cases, also do something you love.

Do you enjoy painting in your free time? Graphic design? Sewing? Writing? There are a ton of different platforms nowadays that allow you to monetize these things. Etsy, Amazon Stores, Ebay, blogs, or even social media platforms in one way or another are spaces to create, build, and earn some money!

So, you’ve started an online shop and you’re actually earning an income! What now? Well, that’s where I come in. As a financial advisor for small businesses, I am a firm believer in working for yourself while using your passions to build a strong financial future. With tax season in full-swing, I’d like to take time to inform you about your obligation as someone self-employed.

To determine whether or not you need to file self-employment tax (SE tax), you need to figure out net profit or net loss from your business (business income, less your business expenses). If you have self-employment income of $400 or above, you are required to file taxes!

Filing taxes on income earned from self-employment might be something that slips your mind, especially if you receive a W2 from a full-time employer, too. However, turning to a tax accountant for help while filing independently-earned income is very beneficial. As I’ve stated in previous blog posts, free, online tax software is very convenient. Unfortunately, this software is cookie-cutter, impersonal, and does not ask all underlying questions about what goes into the work you do. This is why turning to a tax accountant or tax professional is beneficial when it comes to filing for your small business.

If you run your own small business or online marketplace, I will gladly help go through all options for filing your 2018 taxes. Call 702-515-4025 today for your free consultation.

— Jake

Being in the Know About Tax Changes

by


The new year is in full-swing, and I hope everyone had a great time ringing in 2019!

I’m sure many of you already have new year’s resolutions, but I’m giving you another that will be easy to accomplish with my help: Filing your 2018 taxes correctly and getting the biggest return possible! I’m here to make sure you’re aware of important tax changes for 2018!

While I’m sure everyone has their own way of filing taxes, 2018 has brought a lot of changes to things like standard deductions, filing requirements, and more. Free, online tax software might be convenient, but when it comes to constant, ever-changing tax laws and information—no one’s got you covered like a tax accountant.

As a member of many tax accounting associations, organizations, and societies, I stay up to date on how to get you the most money back on your return. If you have questions, concerns, or think you’re not getting the most money back, call 702-515-4025 for a free consultation.

Click here to see filing requirements, here to see standard deductions, and here for 2018 tax rates (brackets).

—Jake

The Future of Your Finances Starts Today

by

A solid financial future begins today, so much of my work is teaching others tools of the trade. The trade? Saving.

Your future is built on contributions you make today, and something I can’t emphasize enough is that it’s never too early to plan for later. That’s why I aim to teach millennials the different options when it comes to planning, saving, and being smart with their money.

Of course, it’s unlikely that a company would offer a premium savings plan to temporary, seasonal, or even part-time employees; this is where some young adults assume they’re out of luck. They’re wrong! Tons of options are out there for young, low-income employees (even if they’re working solely to supplement their summertime shenanigans). There’s an array of ways to contribute the money you make as a young adult into a savings account.

Young adults don’t always understand the necessity of a strong financial foundation at their age, and I’m here to tell them a rainy day fund won’t necessarily cut it for retirement. Although a summertime retail job might not be part the of long-term career goal, all income earned is an opportunity for the future. Whether that opportunity comes in the form of a little extra cash from a tax return, an IRA, or an investment—I want to teach millennials all of their options.

As a financial advisor, my job is simple: I help get more money into my clients’ pockets. No matter how old you are or what your current financial situation is, I want to help you gain better control of your finances. Call 702-515-4025 for a free consultation.

—Jake

Why Jake the Tax Guy?

by

With the new year rapidly approaching—so is tax season!

This January, expect to receive your W-2s, 1099s, or any other tax form as you head to the mailbox. What else can you expect? A huge headache from all the information you need to know, understand, and reference! Why go through the hassle of searching for receipts, crunching numbers, and filling out forms when you can rest easy knowing your taxes are in the hands of Jake The Tax Guy?

You could say I’m an expert of all things finance, but this tax season, I want to help you get the best, most rewarding return. When it comes to the tax services I provide, my goal is the same as yours: to keep as much money in your pocket as possible. Whether you need help with complex tax write-offs for your business or filing basic income taxes as an individual, I’m ready to assist you.

All year long, I stay up-to-date on changes to the tax laws, so I can offer relevant, resourceful tax preparation and services to my clients. Most individuals use cookie-cutter tax software that would be useful if your finances were cookie-cutter—but they’re not. This software uses a plug-and-chug method to determine the amount of money you should receive, but I take it a step further. By looking at your finances on a deeper level and helping you understand what can be sheltered from taxation, we will maximize what you get back.

Your finances are personal, unique, and specific. So, why shouldn’t filing your taxes be? Call 702-515-4025 for a free consultation!

—Jake