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

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Self-employed workers, freelancers, and digital nomads often receive income from various international clients. Tax season for this demographic will often involve a tedious, meticulous process of gathering financial records from different sources and potential international income streams.

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4 Smart Money Moves to Plan for Financial Security

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They don’t have a purpose for the money they’re saving, and they often end up splurging on stuff they don’t really need (or want) rather than using it to fund a life goal such as buying a house or saving up for retirement. So only adjust your emergency fund if your monthly expenses increase, you get a raise, or you gain dependents.

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8 Crucial Tax Filing Tips For Freelancers

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The Internal Revenue Service considers freelancers to be self-employed , so these gig workers have to file taxes as if they were a business owner. . Track your expenses and earnings during the year. Retirement contributions . Ensure that you know whether you are a freelancer, contractor, or full-time employee.

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Preparing to Move Overseas? Read This First

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Have you decided to live the #beachlife or the #retired life or just the #offgridlife? As soon as you move abroad , you’re in charge of paying for your medical expenses, as your United States health insurance won’t let you submit any assertions, says Elena Jones, a personal finance expert at FinanceJar. Health care.

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5 Different Types of Retirement Plans You Need to Know About

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You’re probably familiar with terms like 401(k) or Roth IRA, which are types of retirement plans. You might be less sure about the particular characteristics of these accounts or how they follow specific rules laid out by the Internal Revenue Service (IRS) to protect your retirement funds. Employers can match contributions.

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Can COVID Booster Shots Save Your Business? 

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billion California Public Employees’ Retirement System. . An internal survey my company just completed for a Fortune 500 SaaS company showed that 64 percent of respondents felt somewhat concerned about COVID in the office. By failing to take action, they are falling into the omission bias.

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Navigating the IRS’ Interactive Tax Assistant

BMT Office Administration

Categories in the assistant include Filing Requirement, Form to Use, Due Date; Filing Status and Dependents; Retirement: Pensions, IRAs, Social Security; Other Income (e.g., scholarships); Deductions; Credits; International; and Additional Topics. 503, Child and Dependent Care Expenses , does a good job of explaining these changes.

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