Taxes

Finding out that you owe the IRS can feel overwhelming. Whether you received a tax bill, opened an unexpected IRS notice, or simply know you haven't been able to pay what you owe, you're probably wondering what to do next. The good news is that owing the IRS doesn't mean you're out of options. In many cases, working with a tax professional can help you understand your situation, explore available solutions, and create a plan to move forward.

Running a business means making decisions constantly. How much should you charge? Can you afford to hire? Should you invest in new equipment? Is it time to expand? Are you actually making money, or are you just busy? These are financial questions, but you don't always need another spreadsheet to answer them. Sometimes you need someone who can help you understand what your numbers are telling you and turn that information into a plan. That's where financial consulting services

Every tax season, thousands of Philadelphia residents ask the same question: "Where should I go to get my taxes done?" You could file online yourself, visit a national tax chain, or work with a local tax professional. The right choice depends on your financial situation, how much guidance you want, and whether you're looking for a one-time service or a long-term financial partner. Here's what to consider before deciding. Option 1: DIY Tax Software If your tax return is straig

Choosing a tax preparer isn't just about finding someone who can file your return. It's about finding someone you trust to handle your financial information, answer your questions, and help you make informed decisions. Whether you're filing a straightforward tax return or managing a growing business, the right tax professional can make the process smoother and help you avoid costly mistakes. Philadelphia skyline at night How to Choose the Best Tax Preparer in Philadelphia If

Looking for bookkeeping and tax preparation services in Philadelphia? Learn how In The Moment Financial Services helps individuals and small businesses stay organized year-round with bookkeeping, tax preparation, and financial guidance.

A Simple Tax Preparation Checklist to Help You Get Organized One of the most common questions we hear every tax season is: "What do I need to bring to my tax appointment?" The good news is that preparing for your appointment doesn't have to be stressful. Having your documents organized ahead of time helps your tax preparer complete your return accurately, identify credits and deductions you may qualify for, and avoid delays caused by missing information. Here's a simple check

Putting Off Your Tax Return? Here's What You Should Know Before You Decide to Skip Filing Every year, I talk to people who are nervous about filing their taxes. Some worry they might owe money. Others are missing documents or simply haven't had the time to get organized. Sometimes, people wonder: "What happens if I just don't file?" If you've ever asked yourself that question, you're not alone. The good news is that understanding your options now can help you avoid bigger pro

Starting and running a small business in Philadelphia comes with many challenges, and understanding the tax obligations is one of the most important. Taxes can significantly affect your business’s cash flow and compliance status. Knowing which taxes apply, how to calculate them, and when to pay can save you time, money, and stress. This guide breaks down the key business taxes small businesses in Philadelphia need to know. Types of Business Taxes in Philadelphia Philadelphia

If you opened your mail or checked your tax documents and found a 1099-K, you may have asked yourself: "Why did I get this?" You're not alone. This has become one of the most common questions we hear from small business owners, freelancers, side hustlers, and anyone getting paid through digital payment platforms. The good news is that receiving a 1099-K doesn't necessarily mean you've done anything wrong. It simply means certain payment activity was reported. Read on to learn

Starting a small business brings many decisions, but one of the most important is choosing the right business structure. Should you begin as a sole proprietor, form an LLC, or elect to be taxed as an S-Corp? This choice affects your taxes, legal liability, and how you pay yourself. Many business owners start simple and then wonder if they should switch as their business grows. Understanding the differences can save you money and headaches down the road. What Is a Sole Proprie

If you received IRS penalties during the pandemic years, there’s a chance you could qualify for relief, and in some cases, even a refund. A lot of taxpayers don’t realize this because they assume once a penalty is paid, the situation is closed. But the IRS has provided penalty relief connected to the COVID era, and many people may still benefit from it. During and after the pandemic, many individuals and business owners struggled with: Filing returns on time Paying balances o

Northern Liberties has always been a neighborhood shaped by bold ideas, independence, and people willing to build something of their own. From its roots in industry to its present-day creative and entrepreneurial energy, it’s a place where ownership matters. That’s why In The Moment Financial Services, a woman-owned tax office, is proud to now call Northern Liberties, Philadelphia home. As a woman-owned business, we understand what it means to create your own opportunities, m

We’re excited to share that In The Moment Financial Services is officially serving the Northern Liberties community from our new office here in Philadelphia.

Ah yes, January. The month of fresh planners, big goals… and that sinking feeling that tax season is creeping up like a slow-moving email...

In The Moment Financial Services is now serving Northern Liberties: What Our New Office Means for Philly Entrepreneurs.

Filing status might sound like one of those IRS terms you breeze past on a form—but it actually affects a lot more than you think. Your...

Heads up — some big tax changes are heading your way, and if you’re a business owner (or about to become one), you’ll want to be paying attention. The One Big Beautiful Bill Act (OBBBA) passed in July 2025 introduced some permanent changes and several temporary breaks that could save you a lot if you act before the year ends. Here’s what small business owners and entrepreneurs need to know. 1. Don’t Automatically Skip Itemizing The OBBBA temporarily increases the SALT (State

Let me paint a picture: It's 11:42 p.m. I’m surrounded by crumpled receipts, four different notebooks, and a half-drunk cup of tea that’s...

We get it. That side hustle started as a way to make a little extra cash, not a full-blown business. But guess what? The IRS doesn’t care...

Welcome! If you somehow stumbled across In The Moment Financial Services while googling “how to not freak out about taxes” or “why won’t my business books balance”—you’re in the right place. We’re not just a tax office. We’re your go-to resource for running your business smarter—not harder. Here’s a peek at everything we offer (aka: how we can help you keep your business legit and growing): 1. Taxes (Because, Well… You Have To) We handle personal and business tax prep, so whe