Starting your own business, or rather, running your business successfully, is notoriously difficult. When you're an employee, you can essentially show up and start doing what you're good at or what you've been trained in. But if you have your own business, you need to worry about every aspect of running it, from keeping track of every expense to drumming up clients, not to mention the myriad tax concerns that people working for someone else's company have probably never heard of (try asking a W-2 employee what SECA taxes
Thankfully for self-employed people, there is an abundance deductible business expenses, also known as small business tax deductions, that can drastically lower self-employed income tax
. And with the right tools to navigate the IRS' complicated tax code, they can save more on taxes than they ever have in the past. Need to know what expenses are tax deductible, for example? We've got the ultimate list. Would a checklist help with tax filing? Look no further for one that's super simple.
There's even a section of tips on understanding worker's comp., finding your adjusted gross income and filing taxes if you're using one of the digital platforms that have exploded in recent years like Airbnb and Twitch.