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

Allwork

If you work as a freelancer or engage in work similar to the 16% of Americans who earned money from an online gig platform in 2021 , then there are multiple avenues to explore when bracing for next tax season. There is no legal distinction between the owner and the business.

Legal 264
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4 Smart Money Moves to Plan for Financial Security

Success

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.

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

BMT Office Administration

It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Some expenses may be included on independent contractor invoices, but the basic tools or programs required to complete the work are often provided by the contractor. Form 1099 NEC filing requirements. Employee name and address.

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3 Steps to Take Before Going Into Business for Yourself

Success

A 2021 report uncovered that 40% of traditionally-employed American workers are considering a transition to self-employment in the next two years. Before going into business for yourself, you should have an account set aside to save for these additional expenses. If you’re struggling to save money, take a look at your budget.

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Zoe Ellis Moore Founder of Spaces to Places | Navigating the Changing Needs of Today’s Professionals: Trends in the Flexible Workspace Industry

Allwork

Myth #3: Flexible workspaces are too expensive for small businesses. Now we’re seeing constant growth 2021, 3% increase in providers, 5% last year as well. It costs so much with some of this equipment as well. About this episode Have you heard these myths about the flexible workspace industry? So it is huge range there.

AT&T 278
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The 2023 Motherhood Penalty: The Sorry State Of Affairs For Working Women Continues

Allwork

The high cost of childcare, inadequate paternity leave policies, and flawed perceptions about the role of women perpetuate the penalization of women who wish to work and have children. has the most expensive childcare of any industrialized nation, depleting around 75% of parents’ incomes. American Rescue Plan of 2021.

2023 305
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A Noncompete Clause Ban Is on the Table—Here’s What Employees Should Know

Success

President Joe Biden issued an executive order in 2021 calling on the FTC to ban or limit noncompete agreements, and this January, the commission proposed a new rule to prevent employers from entering into new noncompete clauses and to rescind existing ones. But change could be on the horizon.