Last week, President Biden signed the $1.9 trillion American Rescue Plan into law. The Plan has several benefits that can help freelancers. One of the biggest benefits is the payment of an additional cash stimulus to qualified individuals and families. If you reported less than $75,000 ($150,000 if you filed jointly) on your last tax return, you’ll receive a $1,400 stimulus payment per person, including children and dependents. This means an eligible family of 4 would receive $5,600 – this is a lot of money! (Use the IRS’ Get My Payment Tool to see when and how you will receive your payment if you haven’t already.)
4 Ways to Use Your Stimulus Payment to Grow Your Side Hustle
Mar 18, 2021 7:06:33 PM / by SoleVenture posted in Health Insurance, Freelancer, Taxes, Incorporate, Form Your Business, Business of One, Side Hustle, American Rescue Plan, Stimulus
5 Ways to Tell If You Are Ready to Freelance Full-time
Mar 11, 2021 4:58:36 PM / by SoleVenture posted in Health Insurance, Freelancer, Taxes, Incorporate, Form Your Business, Business of One, Side Hustle
10 Valuable Tax Deductions for Freelancers
Dec 30, 2020 8:00:14 PM / by SoleVenture posted in Freelancer, Year-end, Taxes, Incorporate, Business of One, Side Hustle
If you are a freelancer or self-employed professional, you could be eligible for a number of money-saving tax deductions that can boost your bottom line. This article is an overview of 10 potential tax deductions to keep in mind as you prepare for tax season. (As with almost anything tax-related, there will be some nuance regarding what can be written off and for how much, so be sure to conduct additional research or consult with an accountant as needed.)