If you don’t understand how to lower your self-employed taxes, you might be paying more than you need to. Here’s how to make sure that doesn’t happen. Paying taxes isn’t a particularly fun activity for anyone—but it can be especially tough on the self-employed. Not only can the filing process feel confusing (How much do […]
Can I fund a retirement plan if I’m self-employed? Do you have a retirement plan? Many self-employed people do not, and the number of self-employed workers is increasing. Pew Research notes that the IRS reported 25.5 million nonfarm sole proprietors in 2016. The total was based on the number of tax returns filed using Schedule […]
[ad_1] You can pay FICA (Federal Insurance Contributions Act) taxes as a self-employed person. Everyone pays both FICA taxes and income taxes. If you’re an employee, your company manages the FICA tax payments for you. The process is more complicated for the self-employed business owner. What are FICA taxes? Federal Insurance Contributions Act taxes are […]
[ad_1] Personal finance struggles of self-employed revealed in new survey. Asked what impact self-employment has had on their earnings, investments, personal debt, credit score, disposable income, savings, and expenses, most reported a favorable outcome. According to the data, your personal debt is more likely to go down than up when you become self-employed and your […]
[ad_1] 5 Time-Saving Invoicing Tips for Self-Employed. This capability will help you grow your business, run with more stability, and control how you get paid. Read this guide on invoicing to better understand the role that software plays in accounting workflows—and how a platform like QuickBooks may help you build a template for invoice automation. […]
[ad_1] The Realities of Being Self-Employed. Friends & Family Sacrifice too Aside from working on the weekend – or perhaps because of it – many self-employed workers state that they have had to miss family events or social engagements because of work. The good news is that 22.2 percent of respondents say they only miss […]
[ad_1] Infographic: A Look at the Self-Employed Workday: Has the New Economy Killed the 9–5?Say hello to the new economy: A place where mobility and flexibility are openly embraced at work. It’s during this time that we see self-employment on the rise and the consequent changes reflected in work habits and style. In the US, […]
[ad_1] Study: US Self-Employed Professionals and Small Business Owners Embrace Career Independence. Today, new research released by FreshBooks takes a comprehensive look at individuals earning their primary income from self-employment. Compared to recent studies on the gig economy (McKinsey Global Institute, Freelancers Union) this is the first and largest study to examine the mindsets, motivations […]
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