One of the key tax advantages for self-employed individuals is the ability to deduct health insurance premiums directly from their income. This deduction can significantly reduce your taxable income...
Investing in your skills through professional development is often critical for business success. Fortunately, under IRS rules, certain educational expenses may be deductible if they maintain or improve your...
The Qualified Business Income (QBI) deduction allows many business owners to deduct up to 20% of their business income on their personal tax return, significantly reducing federal income taxes....
Introduction The IRS 1099-K reporting rule has changed in 2025, affecting small businesses, freelancers, and gig workers who receive payments through third-party platforms like PayPal, Venmo, Square, eBay, and...
Introduction Self-employed individuals face unique tax obligations, including self-employment tax, estimated quarterly payments, and business deductions. The new tax laws for 2025 bring several changes that impact freelancers, gig...