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

Allwork

It’s possible to have missed opportunities in areas where you might have been able to restructure your personal finances. If you work as a freelancer or engage in work similar to the 16% of Americans who earned money from an online gig platform in 2021 , then there are multiple avenues to explore when bracing for next tax season.

Legal 264
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3 Financial Tips to Consider Before Pursuing Your Passion Full Time

Success

By 2020, we’d both become full-time entrepreneurs and today, we’re well on track to fully replace our old job salaries by 2022 if not sooner. You should plan to have at least six to 12 months of cash on hand just in case your new business venture isn’t able to fund your lifestyle. Get out of debt. Starting a business is hard enough.

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During a Recession, Entrepreneurs Are in the Driver’s Seat

Success

During a White House event in February 2021, President Biden said, “Small businesses are the engines of our economic progress; they’re the glue and the heart and soul of our communities.”. Small businesses aren’t only beneficial to their owners—they’re integral to their communities and job markets as well.

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