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

Allwork

” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations. Firstly, it is the simplest and least expensive form of business to set up and maintain. There is no legal distinction between the owner and the business.

Legal 261
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Using a Financial Planning Checklist Can Help You Meet Your Goals

Success

The more often you use it, the more data you have to compare your past and present situations. If you like having hard copies of information in front of you, print out statements from the last quarter, and use highlighters or other color-coding to sort your expenses into different groups. the money you take home after taxes).

Goals 297
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Paying Candidates for Interviews: What Should Be Covered and Why?

Success

William Stonehouse III, president and co-founder of Crawford Thomas Recruiting, has an eye on the trend of paying for interviewing expenses. Stonehouse explains it’s also costs associated with flights, transportation, meals, parking, interview wardrobe, devices on which to conduct a remote interview and more.

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Some Companies Are Asking Employees to Pay for Training to Increase Buy-in. But Does It Work?

Success

These firms’ weapon of choice is ‘shadow’ student debt, or nontraditional forms of credit used to finance higher education and job training,” according to the report, leading to what they call “massive financial consequences if they exercise their right to find work elsewhere.” In both cases, there’s no cost to employees.

Training 238
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Applying for a W2 e-filing waiver

BMT Office Administration

You can print these forms and furnish them to employees. Downside: Keying in information on more than a handful of forms, let alone 50 forms, is a recipe for mistakes. You file Form 8508 with the IRS to request a waiver from e-filing the current year’s information returns (including 1099s). Or make that two accountants.

Filing 52
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Experts Predict 2023 Will Be the Year of ‘Quiet Hiring’—Here’s What to Expect

Success

This can lead to raises and promotions for those overachievers, and less of a cost burden on the company to onboard a new team member. This presents quite the conundrum. With our tenuous economy, quiet hiring can be a short-term fix for saving on costs associated with recruiting and benefits.

2023 265
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A Noncompete Clause Ban Is on the Table—Here’s What Employees Should Know

Success

Why some employers favor noncompete clauses Noncompete clauses have existed in some form for hundreds of years, though they became a popular retention tactic more recently among a wide variety of employers. But many employers also see these clauses as an opportunity to reduce the probability (and related costs) of employee turnover.