Hobby or business: here’s what to know about that side hustle

Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the two is that...

Illegal Tax Preparation: Client and Preparer Risks

In recent years, a growing number of illegal tax preparers have cropped up, promising clients massive tax refunds that seem too good to be true. While the lure of a large refund can be tempting, engaging in illegal tax preparation can have serious consequences for...

All income is taxable, including gig economy and tip income

It’s important for taxpayers to file a federal tax return that has a complete and correct reporting of their income – which may mean including income from sources other than regular wages from an employer. Income from gig economy activities and tip income are two...