Amending your personal income tax return may seem overwhelming, but it’s a manageable process when you break it down step by step. In this guide, I’ll walk you through how to correct your return using IRS Form 1040-X. Step 1:…

Requirements to Get Started with Bookkeeping Manually So, to get started with Bookkeeping Manually (without software), we have just two requirements. They are: #1 – First, you must have a bank account that is used exclusively for business income and…

Understanding the Mileage Deduction That Can Make a Big Difference on Your Tax Return Do you know how to calculate the mileage deduction that will make that big break on your tax return? In this blog post, I am going…

Today we are going to dive into a very popular topic amongst those who work at home. It’s How to Calculate the Home Office Deduction. Many of my clients had lots of issues with calculating this deduction this past tax…

If you lived in your home two years out of the last five years, Section 121 allow you to exempt $250,00 for single individuals and a whopping $500,00 if you are married on capital gains when you sell your home….

Think of the American Opportunity Tax Credit (AOTC) as a little “thank you” from the government for investing in education. It helps students (or their parents) save on taxes by covering some college costs. Here’s how it works: You can…

Hey everyone, welcome back to my blog! If you’re thinking about electing S Corp status for your business, this video is a must-watch. Making the wrong moves can cost you big time—from unexpected taxes to legal trouble, or even losing…

If you’ve ever received payments through Venmo, PayPal, Cash App, or any other payment processor, you might have received a 1099-K form. And you might be wondering, what is this? Do I need to do something with it? Well, I’ve…

Thinking About Going Electric in 2025? Here’s What You Need to Know! If you’re considering switching to an electric vehicle (EV) in 2025, you’re probably wondering how the federal EV tax credit works and whether it’s still a smart financial…

Are you investing to build a more secure future for yourself and your family? Are you looking to minimize the taxes you pay on those investments? If so, you are in the right place. In this article, I will share…

Are you planning on selling your home, or have you already sold your home this past year and you’re wondering whether you will owe the IRS taxes? If so, you are in the right place. In this video, I’m going…

If you’ve ever felt overwhelmed by all the forms, statements, deadlines, bookkeeping, and receipts involved in filing taxes, don’t worry — I’m here to simplify all of it for you step by step. My name’s Sonia Narvaez and today I’m…

2024 is almost over, but it’s not too late to tax plan and decrease your taxes for the 2024 tax season. Hello, my name is Sonia Narvaez, and if you’re a freelancer or small business owner who files a Schedule…

I can’t believe 2024 is almost over. Where has the time gone? In this article, I want to give you 7 tips that will for sure make a difference on your bottom line. You still have time to do these…

Today, we’re diving into a critical filing requirement that is new for businesses in the U.S. And if you don’t do it correctly, it can result in steep penalties and even jail time. To start things off, let me explain…

Today, we’re diving into the most frequently asked questions about accounting, tax planning, and financial advice! Whether you’re a small business owner, freelancer, or just trying to make sense of your personal finances, these are questions you’re probably wondering about….

Are you trying to get the best price on your next car? If so, you are in the right place. Because today I’m sharing 5 things you should NEVER tell a car dealer during negotiations if you want to get…

Did you know 93% of millionaires say they were not gifted their wealth? Well, where did all that money come from then? To put it simply, habits. But not just any habits. And in this article, I’m going to share…

Buying a car can be both stressful and expensive. Especially, when you consider dealer fees and add-ons that can quickly turn a $25,000 car into a $35,000 nightmare. The good news? Many of these costs aren’t necessary and are often…

Worried about getting swindled and embarrassed at your local car dealership? You’re definitely not alone; we’ve all been there. With knowledge comes power, and in this article, I’m going to share with you 5 insider tips to help you save…