Cars play a crucial role for many small business owners, with many self-employed individuals using them for much more than a brief commute to the office. As a small business owner using your personal vehicle for work purposes, you may be eligible to write off your car...
Among the many write-offs available to self-employed individuals and small business owners is the mileage tax deduction. Although similar mileage deductions are available for charity, medical use, or moving expenses, this tax write-off is largely used by those who...
There has been a surge of new business applications in the last few years since the pandemic. And new data from the US Census Bureau confirms that the surge continued throughout 2022. 5 million new US businesses were created in 2022, up 42% from the rate of new...
Business owners may receive payments for their goods and services through a variety of means, including third-party payment platforms like PayPal. In past years, some businesses have taken advantage of the IRS threshold for issuing 1099-K forms in order to avoid...
Starting your own business means autonomy, freedom, and flexibility as you set the pace for your career. However, independent work is not as simple as it may seem–especially when it comes to filing taxes. In the absence of an employer who largely handles taxes and...
As a small business, filing your annual tax return will look a bit different depending on your business structure. As an independent contractor, for instance, tax filing is relatively straightforward and a part of the process of filing your personal tax return....
