Oh, goodness it is time again. Every year, tax season seems to come quicker and quicker. You are not alone, and it doesn’t have to be so bad. That is why we are going to show you how simple it is.
Whether or not you are an employee of a company and receive a W-2 at the end of the year, or are doing side jobs and receive 1099’s, we have you covered.
Here are some of the most important things to remember
When you work for a company, you will receive a W-2 form from your employer. Here is the good news; when you get your weekly or bi-monthly paycheck the taxes have already been paid for that duration. The net? Having already paid your taxes to the IRS, you hopefully will get money back. Keep your fingers crossed and make some plans for fun. The cash coming back to you could help go toward that long trip you have been wanting to take for years! You are just needing to submit a yearly return. Southern Payroll takes care of it all. Here is how simple it is – just drop the W-2 form to us at Southern Payroll and consider the job done.
You also started a band and got a few gigs. You may receive what are called 1099 forms. The same goes for it. Check this bonus out. Anything relating to that side job such as supplies, or in this case music gear, can be “written against” any of that income. Cool! You get some new gear for your upcoming gigs and hopefully you won’t have to pay much or any taxes on that income. No confusion is necessary because we at Southern Payroll can explain all of the details.
Okay, now here is an important date to note. Personal Taxes are due each year by April 15th. But you say, “I can’t get it done.” You took a leave from your job to travel for eight months on a band tour. That has been your dream for years. You can’t pass it up. No problem, we can help you fill out paperwork to file an extension. That gives you more time to file. So, relax and enjoy the ride and tell your screaming fans, ROCK ON!
It is our goal to provide value, knowledge, and expertise for small businesses. If you have any questions, concerns, or topics we can address for you, please reach out to us for help! We look forward to helping you with your personal tax filings!
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