We will file your federal and state income tax returns that are due April 15th (March 15th for S Corps and Partnerships). This includes both business and personal income tax filngs.
All clients receive a complementary extension if additional times is needed.
Our process includes:
1. You upload your tax documents and complete a series of questionnaires in our secure online portal.
2. We ask any necessary follow up questions.
3. We provide a draft of your tax return including a personalized video explanation in plain language.
4. Upon your approval, we proceed with collecting necessary e-signatures and completing your tax filing.
QUICK GUIDE TAX
WEBINAR TOPICS
3 Easy Ways to Take Charge of your Taxes as a Freelance Interpreter & Translator
1-hour workshop
DESCRIPTION
Do you feel unprepared for tax season this spring? Do you feel confused about deductions, quarterlies and handling multiple income sources? You're not alone! With interpreting being such a unique field, it can be difficult to find accurate tax guidance. In this workshop, participants will learn 3 practical strategies interpreters can use to get organized for this years taxes and make next tax season smoother. With an efficient process in place, interpreters can breathe easier knowing they're ready for tax season every year.
OBJECTIVES
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Participants will be able to indicate at least 2 differences between 1099 and W2 income
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Participants will be able to identify at least 8 business deductions
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Participants will learn how to save for and pay quarterly estimated taxes
How to Maximize Business and Personal Deductions for Anyone Filing Their Own Taxes
2-hour workshop
DESCRIPTION
From TurboTax.com to FreeTaxUSA.com, there are a lot of options available to interpreters who want to file their own taxes. However, if you don’t have an understanding of business and personal deductions, many tax saving opportunities can easily fall through the cracks while self-filing. During this workshop participants will learn how to reduce their taxable income through maximizing both business and personal deductions when they file their own taxes. I will also show you where these deductions are reported on your tax return so you can double check it for accuracy before filing. And for those who are concerned about how much you might owe this year, I’ll explain how to easily calculate an estimate of your taxes to help you feel more prepared before you begin working on your taxes.
OBJECTIVES
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Participants will be able to list 8 business deductions and understand how to maximize their business phone, home office and auto expenses.
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Participants will be able to easily calculate an estimate of their tax liability
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Participants will be able to list 3 personal tax deductions that can reduce their taxable income
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Participants will be able to locate their business and personal deductions on their tax return to check for accuracy.
Unpacking the Decision to Become an LLC as a Freelance Interpreter
2-hour workshop
DESCRIPTION
This workshop will reveal the answers to the most common questions interpreters ask about LLCs, including: Do I need an LLC? How do I form an LLC? What is liability insurance? Does an LLC provide tax savings? What is an EIN? How are sole proprietorships and S Corps different? In addition, we will examine several real-life scenarios to help interpreters evaluate whether or not an LLC is right for them.
OBJECTIVES
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Participants will understand what an LLC is
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Participants will be able to indicate the difference between liability insurance and LLCs
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Participants will be able to describe the purpose of an EIN and a tradename (DBA)
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Participants will be able to identify the tax implications of sole proprietorships and S Corps
Tax Mistakes All Interpreters Need to Avoid
3-hour workshop
DESCRIPTION
Being a freelance interpreter requires more than just interpreting. Focus is so heavily placed on language and skill that the business side of the profession often falls through the cracks. Through engaging content and hands-on activities, participants will learn how to avoid the most common tax mistakes that interpreters make. By becoming tax savvy freelancers, interpreters can transform their business practices and improve their current and future careers.
OBJECTIVES
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Participants will be able to calculate taxable income
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Participants will be able to indicate at least 3 differences between 1099 and W2 income
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Participants will be able to identify the difference between an LLC and Liability Insurance
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Participants will be able to state at least 15 business tax deductions
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Participants will learn how to implement tax planning throughout the year by using a budget-based scheduling approach
I Owe A lot of Taxes...Why Does This Happen and What Can I Do About it?
3-hour workshop
DESCRIPTION
Are you confused about why you owe a lot of taxes when you file? Are you currently sitting on a huge tax bill that you don’t know how to handle? Taxes can be an extremely stressful experience for freelance interpreters, especially if you are blindsided year after year with a large tax bill that you’re unprepared for. This webinar will explain various payment options that are available if you find yourself with a large tax bill that you can’t afford. It will also teach you how to avoid owing large balances in the future by ensuring correct estimated taxes and withholdings are paid throughout the year. In addition, we will examine several real-life scenarios to help interpreters apply the concepts taught and gain an idea of how they can apply them to their own unique situations.
OBJECTIVES
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Participants will understand what quarterly estimated taxes are and how they impact the amount of taxes owed when filing in the spring.
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Participants will be able to complete form W4 to ensure correct tax withholding from multiple employers.
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Participants will be able to describe the difference between short term and long term federal tax payment plans.
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Participants will be able to identify the criteria involved with qualifying for federal tax debt forgiveness (also referred to as “tax relief”).
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Participants will be able to indicate three warning signs to avoid when selecting a tax debt relief service.