From FitSmallBusiness.com, Crystalynn Shelton offers guidance on self employment taxes and how to lower your taxes. Crystalyn writes: Two Ways to Reduce Your Self Employment Tax Two ways you can reduce your self employment tax without getting the attention of the IRS are to take more business deductions and change your business structure to an…
From JDSupra, Richard Meneghello discusses the Republican Party’s inclusion of the gig or freelance economy in its platform. Richard writes: For the first time in recorded human history, one of the major political parties mentioned the gig economy in its national platform. The future is here! The Republican Platform, ratified by the party on…
From Money, Erik Sherman discusses what gig workers need to know about paying taxes. Many people provide services or resources through online platforms, but may not be ready to handle the tax aspects of the transactions. Erik writes: According to a study from the National Association for the Self Employed and American University’s Kogod Tax Policy…
From Visual Capitalist, Jeff Desjardins shares an infographic that explains the gig economy. Courtesy of: Visual Capitalist
From The Staffing Stream, Gene Zaino discusses the proposal for a certified independent contractor. Gene writes: MBO Partners has proposed the Certified Self-Employed solution in direct response to this issue. The proposal creates a safe harbor for certain independent workers who wish to conduct their business responsibly and establish themselves as undisputed, self-employed,…
Contractors Insurance offers terrific guidance on the benefits for independent contractors of obtaining proper insurance. They write: 1099 employees are usually not covered by traditional workers’ compensation insurance. This means that if you are involved in an accident or injury on site, the company may not be required to cover your medical and recovery…
Independent Contractor Tax Advisors, a CPA firm focused on helping freelancers and independent contractors, offers its insights into the relative strengths and weaknesses of different business structures for independent contractors. They describe the pros and cons of each type of entity including: SOLE-PROPRIETORSHIP Pros Sole proprietors are common because they’re extremely easy to set up…
From Get My Mom a Job, Michele Unangst discusses the pros and cons of being an independent contractor. Michele writes: The pros are being able to work your own hours which you can have a flexible schedule. Depending on the company, you may also be able to choose the work you want to…
Staffing Industry Analysts (SIA) discusses a report issued by MBO Partners that shows a small decline in the number of independent workers. SIA writes: In spite of a 5% decline in headcount this year, independent workers remain a powerful economic force, according to MBO Partners’ 2016 State of Independence in America report. Together, these Independents generate…
From Forbes, Elaine Pofeldt has another terrific article on the solopreneur/freelance economy. She shares how well some individual entrepreneurs are doing. She writes: Many people think that running a solo business means a life of financial struggle. But for a small but rapidly-increasing number, it can be a ticket to seven-figure revenue, according to new…