If you or someone you know is an independent contractor, it’s important to pay special attention to tax preparation. We often find that the taxpayer is not aware of the taxes they will pay, like self-employment tax, or the deductions they are entitled to. This could mean money is left on the table!
When it comes to deductions, everything an independent contractor uses to generate the revenue they earn is a business deduction. Think about things like cell phone expenses, a laptop or Internet service – these are all potential deductions for a freelance worker. And, if the contractor offices from home, there may be even more deductions available!
We are here to provide education (and ask the right questions) when we prepare taxes for independent contractors to ensure tax preparation is done correctly and to maximize a potential return or reduce a potential payment. Through this process, we are also able to assist with business record keeping to benefit the future of the business.
We are currently taking tax prep appointments – call us at (913) 888-9100 to schedule yours today!
