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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. There is no legal distinction between the owner and the business. Firstly, it is the simplest and least expensive form of business to set up and maintain.

Legal 263
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An Admin’s Cheat Sheet to Business Terminology

All Things Admin

It was truly like learning another language. There are a lot of ways to develop your business acumen , but one of the most fundamental ways is to learn the language of business. P&L – Profit & Loss: This is a financial statement that shows the revenues, costs, and expenses of a company over a particular period of time.

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Essential Systems for Entrepreneurs

Jen Lawrence

There’s a lot to consider – legal concerns, tracking financials, and getting all the work done. Bookkeeping, Invoicing, Expenses, Accounting, Taxes. The next is the key to documenting your systems for easy reference and delegation. Learn more about Jen Lawrence at [link]. Supports all things money.

Legal 52
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Essential Systems for Entrepreneurs

Jen Lawrence

There’s a lot to consider – legal concerns, tracking financials, and getting all the work done. Bookkeeping, Invoicing, Expenses, Accounting, Taxes. The next is the key to documenting your systems for easy reference and delegation. Learn more about Jen Lawrence at [link]. Supports all things money.

Legal 52
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

To clear things up, we’ve put together this extensive guide breaking down what you should and shouldn’t include in your employee files — so read on to learn more. Recruitment documents Human resources departments should retain documents related to the hiring process, especially if you need to refer back to them later.

Filing 52
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Finance for Recruitment Entrepreneurs

Recruit CRM

For the purpose of finance, your company will be treated as a separate legal entity, i.e. separate than the promoter (or shareholders). Refer to Table 1). However, if the payment for the laptop has not been made which means $1000 is payable to the laptop vendor then the balance sheet shall look like this- (Refer to table 2).

Finance 52
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

If you’re not quite sure about the differences between a 1099 and a W-2, keep reading to learn which form to send and how to fill out and file them. Usually, when you hear about 1099s during tax season, people are referring to IRS form 1099-NEC, the tax form that is sent to independent contractors in place of a W-2 form.

Payroll 52