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

Allwork

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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Preparing to Move Overseas? Read This First

Success

Before you move, here’s what you need to know about everything from establishing residency abroad to health care, taxes, visas and costs. Health care. health insurance may not cover you. While many countries have free public health care provided by the government, don’t expect it to kick in for you as soon as you arrive.

Medical 264
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Experts Weigh in on 17 Investments for a Rich Life

Success

If you have international clients or want to grow your business internationally, learning other languages is a wise investment of your time and money. Purchase memories, not mementos. If you’re looking for excitement, this could take the form of a convertible for top-down driving on California’s Pacific Coast Highway.

Budget 264
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4 Smart Money Moves to Plan for Financial Security

Success

Maybe you dream of attending drama school one day or purchasing recording equipment to help with your podcasting side gig (don’t we all?). This goal is more expensive than I’d like to admit, so I strategically plan for those purchases by saving for them on a monthly basis. For me, this is collecting limited-release sneakers.

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It’s time to review (or create) your document retention policy

BMT Office Administration

As a starting point, consider what these organizations say about some major types of records to keep and for what length of time: Per the Internal Revenue Service : The length of time you should keep a document depends on the action, expense, or event which the document records. Requirements may prove surprising. Per the U.S.

Policies 105
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Stay organized and secure with electronic records management

BMT Office Administration

Such a management system utilizes information technology to organize and store records in electronic form. Internally, anyone from a manager looking for details of past dealings with a specific client to lawyers building a defense for an improper termination lawsuit benefits from the ability to quickly and easily find what they need.

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Tax Tip for the Office Professional

The Office Professionals Place

Tax Tip: Complete a Form 2106 – Employee Business Expenses This form is used for expenses NOT reimbursed by your employer that you may have incurred throughout the year. Look into purchasing an all-in-one fax, printer, and copier. Tax season doesn’t have to be a tear jerker.

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