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

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Firstly, it is the simplest and least expensive form of business to set up and maintain. Sole proprietors report their business income and expenses on their personal tax returns, simplifying the tax filing process, and there are fewer ongoing compliance obligations compared to other business structures. To qualify for FEIE as a U.S.

Legal 264
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Lessons From Past Recessions

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As of August 2022, the economy has already seen two months of negative GDP growth, but the National Bureau of Economic Research (NBER) hasn’t officially declared one yet. What are my basic monthly living expenses (including food, shelter, health insurance, utilities, phone, transportation and childcare)?

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The Ubiquitous Anywhere Worker — A Passing Fad Or The Future Of Work?

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Anywhere Workers — The State of Play in 2022. As of June 2022, over 25 countries had introduced digital-nomad visas to attract international guests who can temporarily live in one country while working for companies or clients based in another. Traditionally, many workers chose the world’s biggest cities as their base to live and work.

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Authentically Gen Z: The Values, Aspirations & Drivers That Will Re-Define The Future Of Work

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Let’s dive into the five key aspirations and drivers we’ve uncovered from this generation: Amenities, Benefits & Salary: A Shifting Mindset. Amenities, Benefits & Salary: A Shifting Mindset. Beyond pay, benefits such as paid time off, mental health days and activities that create a sense of community are essential for Gen Zers.

Salary 246
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4 important payroll issues to keep an eye on in 2023

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The IRS punted on its final regulations , dropping the mandatory e-filing threshold for information returns for 2021 and 2022 W-2s, 1099s, and 1095s. Proposed regulations covering white-collar employees were included in the Department of Labor’s spring 2022 semiannual regulatory agenda. Here are five items we see coming this year.

Payroll 52
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4 Ways To Financially Support Your Employees (Other Than Raises)

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Employee financial stability dropped almost 10 percentage points in 2022; more than half of the country’s workers are living paycheck to paycheck. Here are some actionable tips that employers can take to help their employees prepare for economic downturns and unexpected expenses. But what constitutes “economically safe?”

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5 Different Types of Retirement Plans You Need to Know About

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Tax-deferred retirement plans can include: Employer-sponsored retirement plans such as 401(k), 403(b) and 457 accounts Traditional Individual Retirement Accounts (IRAs) Qualified and non-qualified retirement plans Tax-deferred annuities Health savings accounts (HSAs) SEP IRAs SIMPLE IRAs Pros of this type of account It reduces taxable income.