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Does Your Accountant Understand Affiliate, Sponsorship, And Platform Income?
Creators earn from multiple streams including platform ads, affiliate commissions, sponsorships, and digital products. Each revenue type has unique tax...
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3 min read
Creators earn from multiple streams including platform ads, affiliate commissions, sponsorships, and digital products. Each revenue type has unique tax...
5 min read
Missing the January 31 deadline for 1099-NEC forms triggers the 1099 late filing penalty, but filing immediately keeps you in the lowest tier. The real...
6 min read
The self-employed health insurance deduction lets you write off 100% of your premiums and lower your adjusted gross income. But the real savings come from...
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.