File Your Taxes With Confidence
For many new freelancers, tax time can be a rude awakening. And it’s no walk in the park for veteran sole proprietors, either. If you struggle to keep track of everything you need to file, here’s what you need to know.
Determine Which Forms You Need
Different business structures require different government forms. And that’s on top of basic information like last year’s tax returns and your Employer Identification Number.
Find Your Strength in Numbers
Not sure where to begin? Start by pulling your Profit and Loss statement. You’ll want this handy whether you do your taxes yourself or turn them over to an accountant.
Keep Track of All Those Receipts
Want to reduce your tax bill? (Who doesn’t?) Starts with your expenses. Don’t forget to keep copies of your receipts (paper or electronic). You’ll need them if you get audited by the IRS.
