Employment Matters: The Difference Between Contractors and Employees

When there’s extra work that needs to get done and there are no sufficient employees to do the job, companies usually hire more workers to keep up with the customer…

How to Simplify Business Taxes

If the only purpose of the tax system is to raise the government’s revenue, it could have been simpler. Unfortunately, its goals include ensuring efficiency, fairness and enforceability, influencing social…

When to Incorporate and When Not to Incorporate

It is true that operating as a corporation has its share of drawbacks in certain situations. For example, as a business owner, you would be responsible for additional record keeping…

What is Incorporation and How Does It Work?

One of the first decisions you have to make in creating an incorporation is the type of business you want to create. A sole proprietorship? A corporation? A limited liability…

How Freelancers Can Write Off their Business Travel Expenses

While there are many risks of being a freelancer, it cannot be denied that there are plenty of benefits, too. One advantage of being self-employed is that you can make…

Estimated Taxes

Estimated Tax Deadline Is September 15th for the 3rd Quarter

Uber driver or involved in some kind of consulting work?  Whether you’re working as a 1099 contractor or enjoying making money from renting your spare room, don’t forget you may…

Am I Going To Have To Work Forever Because I Am Self-Employed?

Am I Going To Have To Work Forever Because I Am Self-Employed?

When you are self-employed you rely on yourself to pay your paychecks and insurance. Without any employer, retirement funding and saving falls on you entirely. That can be a lot…

Rules To Claim A Person As A Dependent On Your Tax Return

Rules To Claim A Person As A Dependent On Your Tax Return

It is not always easy to figure out who you can claim as a dependent with the Internal Revenue Service. Below is a cheat sheet that will help you easily…

Tax Advantages of being a home owner

Tax Advantages of being a home owner

  When you own a home you are able to deduct a lot of home related expenses if you itemize your deductions. That means that you will have to file…

Self Employment Income Needs To Be Turned Into Pension Plan

Self Employment Income Needs To Be Turned Into Pension Plan

For people who are self employed, had a great year and want to save for retirement, it is advised that they start a defined benefit plan by the end of…