Owning Your Own Business

Business Tax Prep Checklist for Freelancers, Contractors, and 1099 Workers – Single Mum, Parents Article

Gather all of your business tax information here, and the hardest part of doing your taxes is done. Whether you DIY your taxes or go to a tax pro, this is what you’ll need to have on hand. Copy of last year’s tax return Your business tax ID number (if different than your Social Security number) Business bank statements Business credit card statements Business loan statements Business financial statements: Balance Sheet and Profit & Loss Statement IRA or other retirement…

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How To Fill Out Schedule C For Your Freelance Business – Single Mum, Parents Article

If you work as a freelancer or contractor – even if it’s a side gig – you are a business. That means you can deduct expenses against the money you earned to lower your tax bill. To do that, you’ll complete an extra form called Schedule C as part of your tax return. If you use tax software, it will do all of the math for you – but you still have to enter all the correct information. If your…

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2019 Tax FAQ’s – Single Mom CPA™ – Single Mum, Parents Article

Got tax questions? I have the answers. All of those confusing changes in the TCJA (Tax Cut and Jobs Act) have led to some unexpected outcomes – like teeny, tiny refunds or surprise tax bills. Plus, the forms that were supposed to be “postcard-simple” are confusing even for the experts. I’ve been getting a lot of questions this year – and expect I’ll get a lot more. If you have any questions that aren’t answered here, add them to the…

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