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5 Tips to Make Filing Taxes Easier for Freelancers in 2023

Success

There are multiple tax tips out there. Keep reading for tips for how to do taxes as a freelancer and make filing this year a little easier. With a traditional job, all you need to file your taxes is your W-2 tax form at the end of the year, showing what you made and how much you had withheld for federal and state taxes.

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Digital Nomads And Freelancers Need These Strategies To Navigate Tax Season Smoothly

Allwork

Here’s a guide of basic definitions and tips to help you through a more simple tax season: Tax Obligations for Freelancers Freelancers/independent contracts act as their own employers and employees, which means they are responsible for paying both income taxes and self-employment taxes. for Medicare with no income limit, according to the IRS.

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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

As a result, the IRS was flooded with loads of improperly claimed 941-X forms, causing them to issue a moratorium for new ERC claims that began on September 14, 2023. This includes income tax returns, Forms 941 and 940, and information returns. Here are the stipulations: The expense must be for a business purpose.

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The Side Hustler’s Handbook

Success

What was once the storied pickle-jar-tip life of the determined musician has become the norm for 35% of working Americans, according to an annual study conducted by Upwork. One more thing to keep in mind: Many companies offer continuing education benefits in the form of funds to allocate toward classes, conventions and workshops.

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Your Roadmap to Effective Office Systems

All Things Admin

Procedures show you, step-by-step, how to perform a specific task – for example, completing an expense report or submitting a check request. Procedures, forms, and checklists combine to create systems for how you get things done efficiently. Determine what types of audio-visual equipment you need. Systems have many benefits.

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

BMT Office Administration

Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2? What is a 1099?

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How to Work from Home as an Administrative Assistant

C-Suite Assistants

Being an effective virtual assistant involves many aspects, from having the right home office equipment and the skills to do your job efficiently, to carefully following instructions, being self-motivated and staying focused so that you can meet deadlines. Effective communication with upper management is an art form.