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Tax Deductions and Credits

Do I have to pay taxes on my hobby?

Is Your Side-Hustle Consider a Hobby or Business for Taxes?

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The Hobby vs Business Test

To help you understand if your activity can be considered a hobby or business, I will provide some rules and guidelines.

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Understanding tax exemptions

Tax Exemptions – What You Need to Know

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What are Tax Exemptions?

Tax exemption is a monetary amount given to help reduce your taxable income. Usually, you can deduct a specific amount for each exemption claimed for that particular tax year.

There are 2 types of exemptions you can deduct:

  • Personal exemptions for you and your spouse
  • Exemptions for dependents known as dependency exemptions

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Commonly Missed Tax Deductions for Stylists, Barbers and Beauty Professionals

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You’re in the world of perfecting your client’s physical appearance whether it is through hair, fashion, or makeup. The last thing you want to worry about is making sure your taxes are prepared correctly and with optimal care. The advisors at The Handy Tax Guy are aware of this and always want to make your life easier when it comes to helping you prepare your taxes. Read More

blog tax tips

Tax Deductions and Tips for Bloggers: What You Need to Know

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Did you know that as a Blogger, you can write off some of the common items you use to make your web empire awesome?

Bloggers have now etched their space into the digital world loud and strong. They have sacrificed sleep and social life to get that time sensitive post out for their followers. We at The Handy Tax Guy understand this burden and are here to help you steer through the world of taxes, especially the tax issues that affect you as a Blogger. Read More

nurses tax deductions

Overlooked Tax Deductions for Nurses and Healthcare Professionals

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The advisors at The Handy Tax Guy understand that the last thing a nurse, physician, pharmacist, or any other healthcare professional want to worry about are  tax deductions. This daunting thought can also be the reason so many workers in the healthcare field file too quickly in an effort to complete this task. Read More

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