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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. Become a digital nomad The rise of remote work and the gig economy has made it possible for freelancers to embrace the lifestyle of a digital nomad. This lifestyle choice can also have tax advantages.

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.

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

Success

During another event in April 2022, after the passing of the American Rescue Plan, President Biden expanded on the benefit of small businesses. As your own boss, your income isn’t based on a salary cap or an education requirement; it’s based on your activity level, on how much you’re willing to put into your new business.

2021 246