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8 Crucial Tax Filing Tips For Freelancers

Allwork

who earn freelance income face confusing tax guidelines and difficult requirements for filing your own taxes. . It’s confusing and difficult, for most people, to know how you’re supposed to file your own taxes when freelance income has been earned from one-time jobs or contract work. . Retirement contributions . ” .

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SEP IRA: What You Need to Know About This Retirement Plan Option

Success

Finding the right retirement plan for your business can take time and effort. One retirement plan option available to business owners and self-employed individuals is the SEP IRA, or the Simplified Employee Pension plan. It allows you to save for retirement based on your earned income. What is a SEP retirement plan?

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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 263
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The 4 Best Retirement Plans for Self-Employed Individuals to Consider

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Saving and planning for retirement as a self-employed person can be more difficult than for others. Company employees often have access to a 401(k) or other retirement savings account that lets them make automatic contributions pulled from every paycheck. How is a self-employed retirement plan different from a 401(k)?

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Simplify Your Filing System and Retire Your To-File Pile

All Things Admin

When was the last time you made an effort to catch up on your filing? Many times, we struggle with filing because it feels overwhelming, we’re not sure where to begin, or we don’t have an easy system in place. Filing can be inconvenient and time consuming. But there are ways to simplify your filing system. Last month?

Filing 130
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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

Are there special reporting requirements? health, dental, vision, retirement) and involuntary deductions, like garnishments. Reporting rules Tricky withholding rules lead to tricky reporting rules. For the year the employee died, you file W-2 and 1099-MISC forms. On the final W-2, report all wages up until death.

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Preparing to Move Overseas? Read This First

Success

Have you decided to live the #beachlife or the #retired life or just the #offgridlife? You have to file U.S. Translation: If you’re a citizen, you have to file taxes even if you aren’t living in the country. That said, you have to file, but you don’t necessarily have to pay anything,” Sosdian says. Health care.

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