8 Tips on Income Taxes for Freelance Workers

1. Phone: (888) 247-6829 8 Tips on Income Taxes for Freelance Workers Most Freelancers are not into accounting or tax preparation, so they fear income taxes for freelance workers a whole lot. If you are a Freelancer and fear it too, then do read the following tips to gain ground on filing your taxes optimally. 1. Know your employment status. Generally, how tax preparation for entrepreneurs is carried out, tax preparation for Freelancers is done much in the same way. Both freelancers and entrepreneurs are categorized as self-employed. 2. You should know your tax obligation types, i.e. self-employment tax, income tax, payroll tax, and more. You should seek the advice of an accountant consultant for Freelancers regarding this. 3. Know the various business deductions you can claim when filing your income taxes. These deductions render you tax benefits (reductions). 4. Why blow your hard-earned money on taxes? Get an accountant for Freelance workers and make a tax savings game plan with them. This will save you a lot of money, and it can consequently plan out your retirement too. 5. You should organize your finances and, also, should have all receipts of expenses readily available, should a tax audit arise. 6. Instead of using your Social Security Number, get yourself an Employer Identification Number through the IRS for tax filing. https://agroaccounting.com

2. Phone: (888) 247-6829 7. Following point 6, you should legitimize your business to prove that you have a bona fide business, not a hobby, and thus deserve Federal tax advantages from the IRS. (“Business”versus “hobby” are actual IRS terms and concepts.) 8. You should hire a professional accountant for Freelance workers in order to file your taxes correctly! Agro Accounting CPA Phone: (888) 247-6829 Email: basil@agroaccounting.com Address: 42 West Street, Brooklyn, New York 11222 Facebook: https://www.facebook.com/AgroAccountingforartists https://agroaccounting.com