by mpalma | May 15, 2021 | Pro Tips
As you likely know, in times of economic dislocation such as the COVID-19 pandemic, the self-employed get no exceptional government help. For example, you generally do not receive benefits that employees get, such as unemployment and paid sick leave. But this time...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 1, 2014 | Featured
Q. I am a company driver. What is deductible when Im on the road?A. While self-employed individuals can generally deduct any expenses incurred to earn their income, company drivers are limited to non-reimbursed expenses required by their employer. You are entitled to...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Sep 17, 2012 | Featured
Picking up a second job to supplement household income in a tough economy is becoming more common. Many Americans are choosing to become consultants that visit homes to sell make-up, jewelry, candles, kitchen utensils and food products. Some may not realize the tax...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | May 23, 2012 | Featured
Are you eligible for a deduction?Generally, sole-proprietors may not deduct the cost of health insurance when calculating self-employment tax. However, under the Small Business Jobs Act, self-employed business owners may be able to deduct the cost of health insurance...
