Even though it’s nice to think that your small business credit is completely separate from your personal credit, the reality is that your personal credit does matter. One of the essential pieces of advice given to just about anyone who starts a home business — or any type of business — is that you need …
Small Business Credit Reality: Your Personal Credit Matters Read More »
Are you getting a 1099-K? You just might be. Get ready for a little extra paperwork. I hope you keep detailed records as a home business owner because if you are issued a 1099-K, you’ll need them. It’s true that you should have good records regardless, but the 1099-K is likely to cause headaches you …
3 Things Your Home Business Should Know about the 1099-K Read More »
Claim a home office tax deduction for the space used for your business. If you own a home business, one of the tax deductions you are eligible for is the home office tax deduction. The IRS terms this business use of your home. You can deduct the costs associated with your business in your home …
As a freelancer, you don’t get paid vacation or employer-subsidized health care. Here’s how to create a benefits package as a freelancer. One of the most challenging aspects of being self-employed is replacing the benefits package you might have had when working in corporate America. In fact, before making the switch to freelancing full-time, it’s …
How to Create a Benefits Package as a Freelancer Read More »
Clients who refuse to pay? Here’s what to do. Running your own business gives you a measure of freedom. You can set your own hours, control your income, and when you need to take time off you don’t have to consult with an employer. But while there are certainly positive aspects of being your own …
After years of listening to my accountant recommend this course of action, I’ve finally changed my freelance business to an S Corp election. Pretty much since I switched accountants, Eric Nisall been trying to convince me to change my tax election to S Corp. And, finally, after gently reminding me to “consider” it for four …
Why I’ve Changed My Freelance Business to an S Corp Election (Finally) Read More »
