The following is a post by Derek from Life and My Finances.
When you work for a company, paying taxes is pretty simple isn’t it? You don’t need to keep track of your income or the amount of taxes you’ve paid in. Your company keeps tabs on all of that for you, and then they send you a W-2 after the year is over! Then, the only tax form you need to fill out is the 1040 which is incredibly straightforward and self-explanatory. Yes, working for a company sure is a breeze when tax time comes around.
It May Be Easy, But Is It The Most Beneficial?
Filling out a 1040 is pretty easy (and cheap if you need to get it done), but it it really beneficial? What if you had a home-based business? What is it like keeping track of all of your own tax information? Is it
Continue reading Self-Employment and Tax Advantages