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8 Crucial Tax Filing Tips For Freelancers

Allwork

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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Simplify Your Filing System and Retire Your To-File Pile

All Things Admin

When was the last time you made an effort to catch up on your filing? Many times, we struggle with filing because it feels overwhelming, we’re not sure where to begin, or we don’t have an easy system in place. Filing can be inconvenient and time consuming. But there are ways to simplify your filing system. Last month?

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Preparing to Move Overseas? Read This First

Success

Have you decided to live the #beachlife or the #retired life or just the #offgridlife? You can (or may need to) purchase international insurance. The easiest—although probably the most expensive—route is to purchase international health insurance from a company such as Cigna, GeoBlue or Aetna. You have to file U.S.

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4 Smart Money Moves to Plan for Financial Security

Success

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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The What, Who and How of Outsourcing… So You Can Let Go

Success

When Harry Hecht, an Orlando, Florida-based mentor with SCORE—originally named the Service Corps of Retired Executives—encounters business owners who are reluctant to outsource, he has them track their time. “I I use it with my interns for my blog. But others have a hard time letting go of any tasks, for various reasons.

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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

health, dental, vision, retirement) and involuntary deductions, like garnishments. Internal Revenue Code § 132 excludes de minimis fringe benefits from taxation. For the year the employee died, you file W-2 and 1099-MISC forms. To file the 1099-MISC, you must have the payee’s Taxpayer Identification Number.

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Navigating the IRS’ Interactive Tax Assistant

BMT Office Administration

The IRS has introduced new online tools with the hope of extending a more customer-friendly face this filing season. 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., Interactive tax assistant.

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