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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. ” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations.

Legal 264
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6 Commonly Overlooked Tax Deductions to Maximize Your Return

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“Can a dead person deduct medical expenses?” “Can ” These are just a few of the numerous requests Andy Phillips, director for the Tax Institute at H&R Block in Kansas City, Missouri, fields when tax time rolls around, as his clients muddle their way through what can and can’t count as a deductible expense. Through the U.S.

Expenses 261
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Companies Are Using This Sneaky Strategy To Avoid Paying Overtime

Allwork

It’s estimated that each fake managerial position saves companies almost 14% in overtime expenses. Additionally, it’s estimated that each fake managerial position saves companies almost 14% in overtime expenses. NBER’s research produced surprising data. Department of Labor.

Salary 288
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How to Start a Nonprofit Organization In 5 Simple Steps

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Donors asked if they can deduct the cost of the donated items on their tax return, and a few people suggested you make your project legal by filing for nonprofit status. Will the secretary be able to keep track of the records and filings? Each state has different rules and regulations for filing.

Filing 162
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Preparing to Move Overseas? Read This First

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Before you move, here’s what you need to know about everything from establishing residency abroad to health care, taxes, visas and costs. Medical expenses abroad aren’t covered by Medicare or Medicaid either, says Anna Sosdian, the co-founder of StartAbroad , a relocation specialist company based in Costa Rica. You have to file U.S.

Medical 264
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

While dealing with lots of paperwork doesn’t rank as most HR professionals’ favorite task, proper recordkeeping for employee personnel files is a must for any organization. In addition, if an employee is involuntarily let go, their employee file must be kept for one year following the termination date. Why is that?

Filing 52
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4 Smart Money Moves to Plan for Financial Security

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This goal is more expensive than I’d like to admit, so I strategically plan for those purchases by saving for them on a monthly basis. Despite that, 53% of millennials surveyed in the National Financial Capability Study didn’t have an emergency fund that could cover even three months of expenses. Pay off your debts by interest rate.