How Are Taxes Determined For Freelancers?
The IRS uses a specific formula to determine how much tax you should be paying if you're a freelancer, independent contractor or working...
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flyfinai
Nov 1, 20223 min read
WHEN TO FILE TAXES? HOW TO PAY ESTIMATED TAXES AND WHAT HAPPENS IF YOU DON'T
It's a penalty if you don't file your estimated taxes by the deadline. The IRS makes it a penalty for not filing taxes if you don't pay...
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flyfinai
Oct 27, 20222 min read
Understanding the Importance of IRS 1099K Form
The world of modern business is going digital in several aspects -including finances. Small business owners nowadays have moved ahead...
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flyfinai
Oct 12, 20222 min read
Top Tax Filing Mistakes to Avoid
Getting the late filing penalty might not be the end of the world. However, there is always a right way and a wrong way to file taxes....
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flyfinai
Sep 26, 20222 min read
All You Need to Know About Instacart 1099 Form
Working as a delivery guy at Instacart is a great way to make $200-$500 a week. If you need extra cash, you can be the Instacart shopper...
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flyfinai
Sep 23, 20222 min read
How to Qualify for Home Office Deductions?
Technology has made a hybrid work environment and work-from-home a new standard. Working in your pajamas on your couch sounds like a...
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flyfinai
Sep 16, 20223 min read
WHAT EVERY SOLE PROPRIETOR SHOULD KNOW ABOUT SCHEDULE C – A BRIEF SUMMARY
If you are a freelancer, have a side gig, run a small business, or work for yourself, every sole proprietor should know about schedule C.
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flyfinai
Sep 16, 20223 min read
TOP FIVE SELF-EMPLOYMENT FORMS THAT YOU SHOULD KNOW ABOUT
Being a self-employed freelancer in America is a dream come true for many. The Top five self employment forms that you should know about
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flyfinai
Aug 29, 20222 min read
What is 1040-ES 2022? Who Needs it and How to File?
Employees have two choices for paying their income taxes. They can ask the employer to withhold a certain amount from their paychecks, or...
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flyfinai
Aug 23, 20222 min read
Who has to File Schedule C with Form 1040?
Freelancers, small business owners, and employees with a side gig must file Schedule C to report their income from multiple sources. It...
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flyfinai
Aug 18, 20222 min read
Does Delaying Tax Filing Result in Penalty?
The IRS declares a deadline for filing your income tax returns. By this due date, each taxpayer who reports a taxable income has to file...
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flyfinai
Aug 9, 20222 min read
IRS Form 1040: What is it and Where to File?
Form 1040 is the standard tax form introduced by the IRS (Internal Revenue Service) that every US citizen needs to file with IRS. The...
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flyfinai
Aug 8, 20222 min read
Schedule SE for Self-employed Individuals: Here’s What it’s About
If you are an independent contractor working for multiple clients on a freelance basis, you need to file a Schedule SE tax form to report...
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flyfinai
Jul 22, 20222 min read
TOP FIVE REASONS TO OPT FOR A QUARTERLY TAX PAYMENT CALCULATOR
In simple words, we can define quarterly taxes, or estimated quarterly payments are taxes that a self-employed person has to pay to the...
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flyfinai
Jul 19, 20222 min read
A COMPREHENSIVE OVERVIEW OF IRS FORM 1099
The IRS Form 1099 is a document that American taxpayers use to provide information to the Internal Revenue Service about all the...
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flyfinai
Jul 13, 20222 min read
IMPORTANCE OF TAX DEDUCTIONS CALCULATOR FOR FREELANCERS AND INDEPENDENT CONTRACTORS
Generally, we can define tax deduction as an item that can be subtracted from a person's taxable income to reduce their overall tax...
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flyfinai
Jul 7, 20222 min read
EVERYTHING YOU NEED TO KNOW ABOUT THE IRS FORM 1099
Form 1099 is a tax form issued by the Internal Revenue System for reporting certain income received during one financial year. Simply...
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flyfinai
Jun 22, 20222 min read
Can WFH Employees Find a Way to Save on Their Home Office Space?
Employers had no option but to adapt to the rising trend of remote work arrangements after the epidemic forced the closure of many...
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flyfinai
Jun 22, 20223 min read
Write-offs for Travel Bloggers at the End of Fiscal Year
You need to become familiar with the write-off for travel bloggers if you are a blogger. You'll need to know this if you want to go on a...
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flyfinai
Jun 20, 20222 min read
Here’s How You Can Estimate Taxes with a Tax Calculator Quarterly
Paying estimated quarterly taxes four times a year may appear to be a hassle. You can lower your tax burden by paying your estimated tax...
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