Author: Liezel comendador

Earning money on your own terms initially feels freeing, until you have to deal with taxes. Unlike employees who are subject to payroll taxes, you are responsible for your taxes when you are self-employed.  Many new freelancers, contractors, and small…

Income tax payable is just one of the jargons that every business encounters in their financial accounting. Small businesses often struggle to understand whether it is a ‘liability’ or an ‘expense.’ What is income tax payable, how to calculate, and…

How you fill out your form W-4 determines how much federal income tax is withheld from your paycheck. There are nuances how to fill out W4, whether you want a bigger take-home pay or a tax refund. It depends on…

Sales tax is a standard levy on goods and services, and understanding how to calculate it is essential for budgeting and financial planning. Whether you’re buying everyday items or need to reverse-engineer the tax from the total amount, this guide…

Capital gains taxes are levied on the profits realized from selling appreciated assets such as stocks, bonds, or real estate. The rates applied to these gains depend on when the asset was held and your overall income level. Learn more…