Self-Employed

Self Employed Resource Center – QuickBooks 

Quickbooks website screenshot

  QuickBooks has a developed a self employment center with a resources, tools and advice for self employed individuals and independent contractors. Some of the resources are: Starting a Business on Your Own: The 1-Person Business Toolkit 12 Common Questions and Answers About Self-Employed Tax Deductions The (Almost) Ultimate Guide to Self-Employed Expenses and Tax…

How PwC and The Washington Post Are Finding and Hiring External Talent

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  From the Harvard Business Review, Steve King, and Carolyn Ockels discuss ways in which some companies are taking advantage of and engaging with highly skilled independent contractors.  Steve and Carolyn write; A good example is PwC’s recently announced Talent Exchange. This online platform provides skilled independent professionals direct access to PwC teams seeking talent for their projects.…

Tax advice for gig economy workers

tax deductions forms

  From the LA Times, Jim Puzzanghera shares tax advice for gig workers.  Jim writes: What are some types of expenses that can be deducted? Anything that’s ordinary and necessary to carry on your business. [For those in the entertainment industry], if you have an agent, audition expenses, head shots and photos, a publicity agent,…

Why Your ICs’ Tax Returns Could Spell Trouble

Deductions in magnifying glass

  nextSource shares how your independent contractor’s tax returns may lead the IRS to investigate the Form 1099 you issued and then perhaps audit you because of the irregular deductions on your independent contractor’s tax returns.  It writes: In 2014, more than 24 million tax returns of self-employed sole properties were audited, which represents a statistically…

The ultimate guide to independent contract work

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  Avvo provides a guide to your rights and responsibilities as a freelancer including guidance on when to incoporate.  Avvo says: When to incorporate At some point, many freelancers wonder if they should incorporate or just operate as a sole proprietor. Sole proprietorship is simpler. If you work as yourself, using your own name, you…

Taxes 101 for Freelancers

  From the Due.com blog, Deanna Rampton offers tax tips for freelancers.  She writes: follow these quick tax tips and you’ll find yourself on the right path with your business obligations on the federal and state levels: As a freelancer, you are classified as an independent contractor by the IRS, which means that you are…

Wouldn’t you rather be self-employed? 

young woman at laptop

  From Examiner.com, Eric Bank discusses reasons why he thinks being self-employed is better than being an employee.  Eric writes: Naturally, it’s a matter of personal taste and opinion as to the type of employment that suits you best. I’ll reveal by prejudices by giving you a 10 reasons to consider calling your own shots:…

Tax Tips for Those Who Make Money in the Gig Economy

tax deductions

From the New York Times, Tara Siegel Bernard provides terrific recommendations and tax guidance to gig workers.  Tara writes: Expenses and deductions The added taxes may feel burdensome, but self-employment income opens the doors to a host of new deductions, as long as expenses are germane to the business. “If you are doing things like…

Is It Better to Be Taxed as an Employee or Independent Contractor?

tax forms with pencil

  From the Oblivious Investor, Mike Piper discusses the differences in taxes for independent contractors and employees.  Mike writes: So What Are the Tax Differences? From a tax perspective, there are both pros and cons regarding the tax treatment for independent contractors as compared to employees. As an employee, you are responsible for paying Social Security and…