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5 Tips to Make Filing Taxes Easier for Freelancers in 2023

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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. For 2022, freelancers will pay 15.3% If you received payments from a service like PayPal, you’d likely see a 1099-K form.

Filing 247
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8 Tools To Help Build An Efficient Asynchronous Workflow

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The Microsoft Teams app gained major traction throughout the years of 2020 and 2022, rising from 75 million daily active users to 280 million in this two-year time span. According to Contrary Research , Calendly “has over 10 million users worldwide, and 200 million meetings have been scheduled using Calendly as of 2022.”

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IRS releases new FAQs on Form W-2c

BMT Office Administration

The IRS has released a new round of FAQs in two fact sheets, both of which clarify the circumstances under which you must provide employees with Forms W-2c if you took the payroll credits for providing them with pandemic-related paid sick or family leave during 2020 and/or 2021. Fact sheet 2022-15. Fact Sheet 2022-16.

Forms 52
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W-2 E-filing guide: Brush up before you file

BMT Office Administration

Most employers are probably familiar with the e-filing process. With that in mind, even if you’ve e-filed your W-2s before, it’s still a good idea to review the process and ensure you’re following the right steps. Step 1: Navigating to the wage file upload page The SSA has redesigned its website.

Filing 52
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Common mistakes made on Forms 1094-C and 1095-C — ACA reporting

BMT Office Administration

The IRS released Forms 1095-C and 1094-C for 2022 healthcare information reporting last week. These forms are required reporting under the Affordable Care Act for employers required to offer health insurance coverage. The instructions are still in draft form , however not much has changed from the 2021 reporting.

Forms 52
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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

While the dust from the 2023 tax filing season has long since settled, if you are a freelance worker, independent contractor , or digital nomad, now isn’t the time to forget about your taxes. ” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations.

Legal 261
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Why You Should Start Your Own Business Today

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According to the Bureau of Labor Statistics , the number of “job losers and persons who completed temporary jobs” remained at about 2,800 in March, April and May 2022. According to the Census Bureau , over 420,000 business applications were filed in May 2022 alone.