CPA for Freelancers

Taxes, Accounting, & Business Advice for the Self-Employed

Sign up for NewsContact

Blog

Receiving Freelance Income Through Peer-to-Peer Payment Apps? Tax Obligations Apply.

Do you receive payments for your freelance business through peer-to-peer (P2P) payment apps such as Venmo, PayPal and Facebook or other mobile platforms? If so, it’s important to know how income from these apps will impact your freelance taxes. In fact, because of the potential for transactions to “fall through the cracks” of your regular […]

Read More
Self-Employed? Here’s What You Need to Know About PPP & EIDL Loans

If you were able to get a loan under the Payroll Protection Program (PPP) recently, you should be aware of some important follow-up guidance recently released by the IRS which may impact your taxes. PPP loan forgiveness, self-employment income and your taxes Based on the new PPP guidance available to date (which is fluid and […]

Read More
FAQs About Economic Impact Payments for Freelancers

Under the recently passed CARES Act, the U.S. government is planning to send out Economic Impact Payments (EIP) to taxpayers meeting certain income requirements. Please note: the IRS is currently working on a website with a portal for individuals to provide their banking information to the IRS. It is not known yet when this portal […]

Read More
The Tax Gift Every Freelancer Should Give Themselves Before December 31

Thanksgiving is just around the corner…which means the holiday season is about to kick into high gear with food, festivities and for many of us, giving gifts to family and friends. While being generous to others at this time of year is certainly in keeping with the spirit of the season, consider gifting yourself with […]

Read More
Employee or Independent Contractor? How the Decision May Significantly Impact Your Freelance Finances

A recent ruling by the California Supreme Court made it more difficult for employers to classify their workers as independent contractors in response to criticism by some that companies are not properly classifying independent contractors as employees. This law seeks to tighten the rules regarding worker classification and reignites the debate about when a freelancer […]

Read More
Selling Your Home This Spring? It Could Reduce Your Freelance Taxes

Spring is often when the housing market heats up with home sales generally peaking in May and June. According to an ATTOM Data Solutions report, in the United States,  May is the best month to sell your home based on the higher price premium you are likely to get. June 28 is the best single […]

Read More
Update on Health Insurance Tax Considerations Under Tax Reform

If you are considering dropping your health insurance, given that the current tax penalty for not having coverage will be lifted starting in 2019, you are not alone. According to recent research, the elimination of Obamacare penalties may reduce the number of subscribers to individual and small-group insurance plans by 500,000. Here is a general […]

Read More
Updates on Meal and Entertainment Expense Deductions Are Here

If you are keeping track of the rules related to the Tax Cuts and Jobs Act (TCJA) that are likely to impact you as a freelancer, you’ll want to take note of this one in regard to meal deductions. At the beginning of the year, it looked like the IRS was not going to allow […]

Read More
Must-Have Freelance Tax FAQs

Now that we are getting down to the wire for filing individual taxes and those for freelance businesses structured as LLCs and corporations, it’s key to know the answers to these freelance tax FAQs so you can tackle your taxes in a timely manner. The following list of freelance tax FAQs can help you tame […]

Read More
Is an S-Corp Entity Right for Your Freelance Business?

The end of the year is the perfect time to make a change to your business structure because doing so can afford you additional tax advantages in the coming year. While there are several business entity structures you can use for a freelance business, the S-corporation (S-corp) is worth considering. S-Corps 101 S-corps, which are […]

Read More
1 2 3
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram