Contracts and Finance

Four Self-Employed Tax Advantages

May 24, 2019

Being self-employed may not always be simple, but it definitely has its rewards. Doing what you love and having the flexibility that comes with being your own boss can certainly make the challenges worthwhile. In some cases, being self-employed can also have some less obvious tax advantages. Making sure you plan according to the tax…

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5 Things Self-Employed Professionals Should Know to Make Filing Taxes Less Taxing

April 10, 2019

Life as an independent professional involves a different approach than that of a full-time employee, and the same can be said for independents come tax time. Since many independents receive payment on a 1099, it’s important to note that tax time for independents isn’t as straightforward as simply plugging a few numbers into an online…

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Coverages, Exclusions, and Endorsements Independent Professionals Should Know

April 9, 2019

If you’re an independent professional, you’ve likely gotten a contract that required business insurance. While the flexibility and autonomy of working independently are a large part of what draws so many people away from the traditional W-2 lifestyle, they also means you have to navigate the complicated world of business insurance on your own. Liability…

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Gross vs. Net Income: What is the Difference?

March 28, 2019

Gross income and net income are two important numbers to know when it comes to understanding how your business is doing and paying taxes as an independent professional. Because gross income is used to calculate net income, they can be easy terms to confuse. What is Gross Income? Gross income is the total amount you earn…

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4 Tips and Tools for Keeping Track of Your Expenses as an Independent Contractor

February 26, 2019

If you’ve been an independent contractor for more than a year, you know how fun it can be to gather up your expenses come tax time. This is definitely one of those times where an ounce of prevention is worth a pound of remedy. That’s why we’ve come up with four tips to help you…

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7 Ways To Cut Expenses

January 4, 2019

There’s never a bad time to check your spending and reassess your expenses. While any business budget can benefit from a little belt-tightening, as an independent contractor you deal with smaller profit margins than large companies. That means the need to keep expenses to a minimum is more pressing. We’ve assembled a list of 7…

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How To Give Back on a Budget as an Independent Contractor

December 14, 2018

Even as a business of one, philanthropy can be an important part of your brand. Not only is charitable giving a great way to give back to your community and support a good cause, but it can also help to build connections with existing and potential customers, differentiate your business, and gain positive publicity. However, as…

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How to Bill a Client

October 12, 2018

10 simple steps to billing a client to ensure you get paid on time.

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Section 199A Qualified Business Income Deduction: What Tax Reform Means for Small Businesses

September 4, 2018

In late 2017, the President signed into law the Tax Cuts and Jobs Act, the biggest overhaul of the U.S. tax code in more than 30 years.  One of the major changes in the law is, as described below, a deduction for certain “qualified business income.” In early August, the IRS issued proposed regulations, providing some…

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Top Self-Employed Tax Deductions

July 25, 2018

Properly managing business expenses is not just good business, it’s also a good income strategy for an independent contractor. As a business-of-one, you will likely incur fixed costs that can’t be billed back to a client. You may also need to take care of expenses such as health care and retirement. Each of these fixed or variable costs…

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