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A few months ago, we shared advice on how to manage freelance expense deductions using either the traditional itemized deduction approach (which requires receipts for every expense and to-the-penny recordkeeping of each category of your travel expenses) or the per diem method where you use...

From a federal perspective, tax year 2018 was the last year that the Affordable Care Act’s individual Shared Responsibility Payment applied when you filed your return. This fee, otherwise known as the individual mandate, was collected for plan years through 2018 from taxpayers who could...

Yes, we are fresh off tax season, which means most small business owners have just calculated—with help from the IRS—whether they paid enough tax for 2018. If you are self-employed you should be familiar with making estimated state and federal tax payments each quarter. If...

The President recently unveiled his administration’s long-awaited tax reform proposal called the “2017 Tax Reform for Economic Growth and American Jobs.” As it stands, the preliminary plan features significant tax cuts and a sweeping simplification of the tax code. How could these potential changes impact...

“The Final Countdown” to Tax Day is on, and with just over a month left to go until that most notorious day of the year—Tax Day—it’s time to get serious about what you need to do to meet your obligations as a taxpayer and freelance...

Every year the tax code changes and for 2017, there are a number of important updates that may affect you and your freelance business. To help you get a handle on them, check out this handy Freelancer Tax Checklist. Here are a few of the...