Self-Employed or Freelance? You Likely Need To Pay Estimated Taxes — Here’s What You Should Know

Self-Employed or Freelance? You Likely Need To Pay Estimated Taxes

Ground Picture/Shutterstock The tax system operates on a “pay-as-you-go” basis. If your taxes aren’t being withheld from your income, the IRS expects you to pay estimated taxes four times a year, usually in January, April, June, and September. If you work full-time for an employer, your company typically withholds federal taxes from your paycheck. But […]

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Freelance News, Freelancing Resources, Freelancing Tips, Freelance Taxes, Financial Planning for Gig Workers, Freelancers

What freelancers should know about navigating gig economy

In this episode of In The Know’s Getting Rich, financial expert Carmen Perez chats with certified financial planner Brittney Castro on everything freelancers should know about the gig economy. The gig economy refers to freelancers, contractors or anyone with a specialized skill set including graphic design, home repairs and web development. But freelancers have to […]

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Freelance News, Freelance Tips, Freelance Taxes, Freelance

3 Smart Ways to Lower Your Taxes if You’re a Freelancer

Gig workers represented 35% of the U.S. workforce in 2020, up from 14% to 20% in 2014, according to Forbes. “After being laid off or unable to work their normal jobs due to the pandemic, many people worked as independent contractors with food delivery services, companies that provide online tutoring or as virtual assistants,” says […]

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Freelancing New Tax Break

A New Tax Break Could Save Freelancers Hundreds This Year. Here’s What You Need to Know

This spring, taxpayers will file their first returns since Congress overhauled the tax code a little over a year ago. Freelancers could find a lot to cheer. One of the 2017 Tax Cuts and Jobs Act’s biggest perks is a new 20% deduction on so-called pass-through, or qualified business, income available to anyone who is […]

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