Joseph Orabona's (vectortax) Blog

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Services for Real Estate Pros - Vector Tax & Accounting LLC
RECENT BLOG POSTS
It is one of the scariest things that can befall a taxpayer - the dreaded notice from the IRS stating you owe them more money you can’t pay. When you open up the mailbox and see the return address of the tax agency staring back at you, your heart is bound to skip a beat (or two).   Few people lo...
09/17/2021
Few things are as frightening as opening the mailbox and finding a letter from the IRS, especially when you know you owe them money. The much feared tax agency does not contact taxpayers just to say hello; receiving communication from them is not likely to be good news.   When your heart stops p...
08/25/2021
No one wants to be on the bad side of the IRS, yet that is where millions of taxpayers find themselves each and every year. As enforcement efforts ramp up at the IRS, the number of letters landing in mailboxes is continuing to increase and one of them could be heading your way. If you do receive ...
08/11/2021
The rise of freelancing, self-employed and gig work is one of the biggest labor stories of the last 20 years. More and more workers have been looking beyond the normal nine to five and making their own way in the world, creating an income they can rely on, one that is directly tied to their skill...
08/09/2021
People often dream of quitting their jobs and going into business for themselves so that they can pursue a passion and work without a boss. Self-employment can be a rewarding career decision, but it can lead to higher taxes and tax returns that are more complex that what you initially bargained f...
08/04/2021
If you took on a side hustle last year to make ends meet and earn some extra cash, you may have found a surprise when you filed your taxes. If you did not prepare carefully, you probably ended up with a big tax bill for your troubles, possibly with penalties and interest added on. Given the unple...
07/19/2021
Proper tax planning is a year-round proposition. You cannot afford to wait until April to start planning your taxes and assessing your tax liability.   Knowing which factors can raise your taxes is one of the best ways to keep more money in your pocket. These five factors can unexpectedly raise ...
07/12/2021
Being an adult has its perks, from being able to rent a car and book a hotel room to the chance to earn a living and rent an apartment. But life as an adult also comes with some challenges, including the burden of filing and paying taxes. If this year is the first time you will be filing a tax re...
06/14/2021
If you are working as a freelancer or gig worker, you are certainly not alone. Millions of men and women are earning extra income driving for ride sharing services, designing websites for online entrepreneurs and writing for local businesses.  Some freelancers and gig workers have even said goodb...
06/07/2021
Tax returns can be complicated and tricky to understand. Even for a professional, it can be surprisingly difficult to get every number and detail right.  Often, you only notice the mistakes when you take a casual look at your return days after you submit it online or drop it in the mailbox. Or wo...
05/27/2021
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