If you’ve recently started your own business, or are in the process of starting one, and you know that having a team will be vital to your success, you need to make sure that any HR guidelines are clear and that you are not violating the tax code in any way. The most frequently asked [...]
What’s the #1 thing you’re afraid of when you start preparing your tax return? For personal AND business returns, everyone is afraid of paying more in taxes than they have to. If you own a small business, tax time can feel complicated and challenging. Deep inside, you know that the livelihood of your company is [...]
If you’re a self-employed entrepreneur then you are responsible for paying your own taxes. In contrast, if you work for someone else under the classification of “employee”, taxes are automatically withheld from your paycheck before you see any money. Depending on your annual income and your circumstances, self-employed individuals and business owners may be required to pay taxes on a quarterly or monthly basis. […]
Certain streams of income can have different effects on your tax situation because they are taxed in different ways. For example, not all income is included when it comes to figuring out your tax liability at the end of the year. When planning a tax strategy, budgeting for taxes, or doing a mid-year review, you [...]
Whether your business is your side hustle or your full-time hustle, you already know that in order to grow, you will have to eliminate the non-income producing, administrative tasks that suck your time and energy. But how do you do that? As a freelancer or solopreneur, that’s often easier said than done. Money is limited and [...]
