Welcome to the tax jungle, independent contractors! In this week’s tax tip we offer you a survival guide against the most dangerous of predators, the IRS. This article, provided by Forbes Advisor, instructs how to calculate the federal taxes you may be dealing with, including: self employment tax and income tax, and all the essentials you need to survive next tax season.

Many of our readers already know that the Federal Reserve has increased its rates. However, many do not know how exactly these rates affect their credit, payments, and more. Luckily, the Dayton Daily News has this article that is written to inform us of exactly that. This article shows the importance of being up to date on the current actions of the Fed for the very reasons that it lists.

This week’s tax tip is for all of our traveling business people and the deductions you can get for business trips. Ironically, this week’s tax tip is brought to you by the very same people who want you to pay your taxes, the IRS! The article includes the various deductions one can list on their taxes due to business including food, gas, transportation tickets, and most importantly, how to document all of that so it is easy to file your taxes when the time comes.

This week’s tax tip looks at how to check up on the thing that gives you heartburn, your taxes! This tip comes from the good old IRS which has established online accounts for those who wish to check their tax history, information, and more whenever they want.

The people who want your taxes, the IRS, have ways to ensure you are able to pay and offer avenues for avoiding penalties depending on your circumstances. However, even if you manage to dodge the penalties, you should always pay your taxes as soon as possible, as the longer you wait the worse things can get.