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5 Tips to Make Filing Taxes Easier for Freelancers in 2023

Success

It can also make things more complicated when it comes to filing taxes. Keep reading for tips for how to do taxes as a freelancer and make filing this year a little easier. Your client will also send a copy of the 1099-NEC to the IRS, so reporting every dollar is vital. Becoming your own boss can change your life for the better.

Filing 278
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8 Tools To Help Build An Efficient Asynchronous Workflow

Allwork

Slack boasts that using the app reduces emails by 32% and meetings by 27%, which could be a major benefit for teams looking to cut down on unproductive activities. The company has capitalized on this success: it’s reported that Zoom generated $4.3 billion in revenue last year — a 7.3% increase year-over-year.

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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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IRS poised to allow e-filing of Form 941-X

BMT Office Administration

What’s ahead for paperless filing You can still file on paper, if you choose. It says by next winter’s filing season, you should be able to e-file Forms 941-X and 945-X and amended Form 940. MeF accepts files in the XML format only. MeF accepts files in the XML format only.

Forms 52
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5 things you should do now to prepare for year-end payroll reporting

BMT Office Administration

However, Payroll teams are busy preparing for a different season — year-end reporting. Plan for a lower mandatory e-filing threshold. We don’t yet know whether the IRS will issue final regulations dropping the mandatory e-filing threshold down to 100 or more information returns from 250 or more returns.

Payroll 52
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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

Are there special reporting requirements? More practically, cancel the deceased employee’s company email and security card, and retrieve their company-issued cell phone and laptop. Reporting rules Tricky withholding rules lead to tricky reporting rules. For the year the employee died, you file W-2 and 1099-MISC forms.

Payroll 52
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Want to Reduce Digital Distractions? Brain Coach Jim Kwik Shares Strategies for Better Focus

Success

With social media, texts and emails, it’s easy for our brains to suddenly switch into defense mode to fight fires. You probably have woken up and gotten a social media message, voicemail message, email [or] text, and it just puts you in a mood for hours, and we lose our focus,” Kwik says. I’m not saying any of this is easy.