Posts authored by Jonathan Medows
Jonathan Medows is a NYC-based CPA who specializes in taxes for consultants across the country. His website has a resource section with how-to articles and information for freelancers.
The IRS Adjusts Lookback Period for Pandemic-Era Tax Refunds
Did you file a 2019 or 2020 tax return during the pandemic? If you filed in the postponed periods, the credits you claimed and refunds you filed could now fall outside of the three-year tax refund lookback period that the IRS typically allows for.…
Take Advantage of New Green Vehicle Tax Credits to Reduce Your 2023 Freelance Tax Bill
The new season of cars are starting to roll onto dealership lots, and if a new car is in your future this year you may want to consider buying a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV) to qualify for a clean vehicle tax credit.…
The IRS Needs to Know About Your Crypto - Here’s How to Report It on Your 2022 Freelance Tax Return
Now that it’s time to file your freelance taxes, you may have questions about how to report your cryptocurrency (now referred to as “digital assets'' instead of virtual currencies by the IRS). Here are answers to some FAQs about reporting them in compliance with the latest digital asset tax laws.…
10 Not-to-be-Missed Deductions for Your 2022 Freelance Taxes
The IRS begins accepting tax returns soon, which means if you want to expedite any potential deductions so you can get your return sooner rather than later and reduce your tax burden as much as possible you should consider completing your tax return and consider these deductions.…
Hardship Accommodation Plan for Economic Injury Disaster Loans May Help Your Freelance Business Cash Flow
If your freelance business received an Economic Injury Disaster Loan (EIDL) it will soon be time to start paying it back. To help freelancers who are still struggling financially, the Hardship Accommodation Plan provides the option of paying just 10% of monthly payments or $25 for up to six months.…