6 min read
How Consulting Taxes Really Work (And How to Keep More of Your Money)
Navigating consulting taxes becomes manageable when you plan strategically. Set aside 30–35% of your net income, pay quarterly to avoid penalties, and...
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6 min read
Navigating consulting taxes becomes manageable when you plan strategically. Set aside 30–35% of your net income, pay quarterly to avoid penalties, and...
5 min read
Filing taxes on 1099 income boils down to three straightforward steps: reporting your income, calculating what you owe in self-employment tax, and staying...
5 min read
Reducing taxes on 1099 income means capturing every deductible expense, timing purchases strategically, and considering an S Corp election once you...
6 min read
Self-employment tax hits freelancers with a 15.3% charge on all net profits, often costing thousands more than W-2 employees pay for the same Social...
5 min read
A partnership tax return (Form 1065) sounds complicated, but most solopreneurs don't actually need to file one. Single-member LLCs report income directly...
3 min read
The Augusta Rule lets small business owners rent their home to their business for up to 14 days a year, creating a business deduction without taxable...
3 min read
Did you know that solopreneurs can access more flexible tax breaks than larger businesses? This is thanks to simpler ownership and fewer nondiscrimination...
4 min read
A solid solopreneur action plan starts with structure, not just income. Many solopreneurs watch their tax bills climb as they grow, not because they're...
7 min read
Smart self-employment tax deductions can save solopreneurs thousands each year. From home office expenses and health insurance to retirement contributions...
4 min read
Headlines around the OBBB can be misleading for solopreneurs, so the real focus should be on how IRS guidance and income definitions like AGI and MAGI...
6 min read
A single-member LLC protects your personal assets while opening the door to serious tax savings. Once your business income reaches around $80,000,...
3 min read
This article was originally published in Accounting Today and written by Ran Harpaz, CEO of Lettuce, and Diane Kennedy, Head of Tax Education at Lettuce.
6 min read
Sole proprietorship taxes mean handling quarterly payments, self-employment tax, and deductions entirely on your own. Most solopreneurs learn through...
6 min read
December is your last chance to make year-end tax moves that could save thousands. Smart solopreneurs maximize retirement contributions, home office...
5 min read
While “new year, new finances” probably doesn’t top your list of new year mantras, it’s an undeniably helpful mindset to have as a solo business owner....