5 Tax Deductions for Self-Employed Freelancers & Small Business Owners

There are lots of expenses associated with the start-up and day-to-day operations of a business. Fortunately, many of these expenses are deductible, lowering the owner’s income tax and self-employment tax. Here are five deductions that can benefit small-business owners and self-employed taxpayers.

5 Tax Deductions for Self-Employed Freelancers & Small Business Owners is a post from Money Crashers.

Best States for Veterans – 2020 Edition

How easily veterans adjust to their lives after service depends on many factors, not the least of which is their ability to maintain adequate finances to cover their home payments and daily needs. There’s good news for vets on that … Continue reading →

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1099-C: What You Need to Know about the Cancellation of Debt Tax Form

From early January to mid-February, you might receive a number of tax documents in the mail. They can range from expected W-2s from your employer to forms about mortgage interest you paid. One form that many people don’t expect is the 1099-C. Discover why you would receive such a form and what the IRS expects… Read More

The post 1099-C: What You Need to Know about the Cancellation of Debt Tax Form appeared first on Credit.com.

Understanding What to Do with Unfiled Tax Returns

The IRS has taken down Al Capone, Wesley Snipes, Martha Stewart and other big names in the past for tax fraud. The federal government takes taxes very seriously. Not filing your tax returns is a serious offense. Although there won’t be a nationwide manhunt for late returns, you may still see some hefty fines and… Read More

The post Understanding What to Do with Unfiled Tax Returns appeared first on Credit.com.

Strategies for Avoiding and Reducing Taxes

Taxes can take a big bite out of your income, especially if you’re in a higher income tax bracket. And even with careful planning, it’s possible that you could still be hit with an unexpected tax bill. The good news … Continue reading →

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Effective tax rates in the United States

I messed up! Despite trying to make this article as fact-based as possible, I botched it. I’ve made corrections but if you read the comments, early responses may be confusing in light of my changes.

For the most part, the world of personal finance is calm and collected. There’s not a lot of bickering. Writers (and readers) agree on most concepts and most solutions. And when we do disagree, it’s generally because we’re coming from different places.

Take getting out of debt, for instance. This is one of those topics where people do disagree — but they disagree politely.

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