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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

While the dust from the 2023 tax filing season has long since settled, if you are a freelance worker, independent contractor , or digital nomad, now isn’t the time to forget about your taxes. According to the Internal Revenue Service (IRS), “a sole proprietor is someone who owns an unincorporated business by himself or herself.”

Legal 264
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5 Types of Tax Fraud Activities You Should Know About In 2021

Small Business CEO

The Internal Revenue Service (IRS) treats all tax issues seriously, and this includes filing a false tax return and accompanying documentation. Here are five types of tax fraud activities that you should be aware of in 2021: Willfully underreporting taxable income. Different background checks serve varied purposes.…

2021 105
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4 Smart Money Moves to Plan for Financial Security

Success

The benefits of starting retirement planning early far outweigh any reasons that might hold you back—even if that’s an unnecessarily flashy car with a high monthly payment or a fancy international vacation. In 2021, that limit is $140,000 for individuals and $208,000 for married people who file their taxes jointly.

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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. If you’re not quite sure about the differences between a 1099 and a W-2, keep reading to learn which form to send and how to fill out and file them. What is a W-2?

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