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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. With freelancing, you’ll likely have multiple clients, each sending you a 1099-NEC form (previously a 1099-MISC) showing what they paid you.

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

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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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8 Crucial Tax Filing Tips For Freelancers

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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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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? 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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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. Start a retirement plan. You’re young, and retirement probably feels light-years away.

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Why You Should Start Your Own Business Today

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According to the Census Bureau , over 420,000 business applications were filed in May 2022 alone. The nation’s 73 million baby boomers (according to data estimates from the 2020 census ) are just starting to reach retirement age, yet they’re realizing that they can’t afford to retire. A second career.

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

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While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. A 1099 is a form used to report non- employee compensation. What is a W-2?

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