Self-Employment Tax Strategies
Don’t let your yearly tax burden steal the joy of running your own business.
Self-employment is a beautiful world – no bosses, flexible schedules, doing work you love – until tax season comes around. Running your own business is costly, and all those out-of-pocket expenses add up. Luckily, being self-employed means you have many options for decreasing taxes that you wouldn’t have if you were just an employee.
Some of the best self-employment tax strategies include:
Increasing business-related expenses
Changing your entity structure
Implementing these and other self-employment tax strategies helps you not only save money, but it also:
Retain Social Security retirement or disability benefits
Exempt some of your earnings from self-employment taxes
Pay taxes as an individual rather than a corporation
Contribute towards your retirement plan
Invest money into your company
Although it seems quick to only take the obvious tax-deductions for self-employment and move on, there’s a long list of options you can capitalize on to lighten your tax burden. Let our tax planning experts guide you through all the ins-and-outs when it comes to saving money on self-employment taxes. We won’t let you pay the IRS more than you should.
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