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The playbook for fantasy football and your taxes
Week one of the 2016 NFL season officially kicked off this past Sunday, but preparation for game day started quite a while ago. And I’m not just talking about those who strap on a helmet and rush the...
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The keys to home ownership when you’re self-employed
People who choose to work for themselves tend to like a certain amount of independence. It takes a lot of gumption to cut ties with the traditional 9-5, and the kind of person willing to take that...
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Love it or leave it? It’s time to review your healthcare plan
For many Americans, the struggle to save enough money to cover unexpected expenses – like high medical bills – is real. In fact, unpaid medical bills is one of the leading causes of personal...
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3 things to know about our Price Lock Guarantee
At TaxAct, we believe in pricing transparency. Our goal is to ensure every customer knows upfront what they’ll pay to file their taxes. One important way we make that happen is by offering a Price...
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The Basics of the Simplified Home Office Deduction
If you have a small business and work at home, you probably know you can take a deduction for the expenses of your home office. However, it’s surprising how many people don’t take this deduction when...
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How to Track Self-Employed Expenses All Year Long
Numerous advantages come with being your own boss. For starters, you can set your own hours and vacation schedule. It gives you the flexibility to work remotely and spend some time enjoying a nomadic...
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Attention Gig Economy Workers: You Have to Pay Taxes!
You’ve probably heard that the gig economy is overtaking the ways we work. But, how extensive is this phenomenon that smashes the standard of the 9-to-5 job? More than 55 million Americans are...
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Five Ways to Manage Your Finances As a Freelancer
Working as a freelancer or independent contractor is like riding a roller coaster. One month you’re flush with cash and the next you’re wondering how you’ll pay the bills. Sometimes you wish you still...
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How to Deduct Your Business Car Expenses
If you frequently drive your car for business purposes, you know how car expenses can quickly add up. And it’s not just the cost of gas, which fortunately has gone down from its high a few years ago....
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When is Interest Expense Deductible?
The Internal Revenue Service (IRS) allows you to deduct several different types of interest expense, including home mortgage interest and interest related to the production of income. But, it does not...
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How to Manage Taxes with a Full-Time Job and a Side Gig
The first year I started a side gig in addition to my day job, I had no clue about quarterly estimated taxes. I also didn’t have much need to worry because I only grossed about $1,700 the first year....
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Are You Part of the Growing Gig Economy?
It’s now easier than ever to make money on your own. Whether it’s a side venture that earns you a few bucks now and then or a full-time business, there are a variety of ways to create your own income....
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What I Wish I Knew About Taxes When I Started Freelancing
I write about money for a living. You would think that fact alone would protect me against some, if not all, the surprises that come with paying taxes. But alas, the transition from salaried employee...
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How to Tell If You Are Self-Employed
If you’re a freelancer, it’s critical to know whether you’re self-employed or an employee. The distinction has a major effect on your tax responsibilities. Categories of Self-Employed Workers You...
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Tax Responsibilities for Airbnb Hosts
If you’ve ever thought about using Airbnb to make a little extra money, you’ve probably wondered how it may affect your taxes. If you have to deal with complicated tax forms and record-keeping, you...
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7 Steps to Quitting a Corporate Job to Freelance
So you’ve finally decided to take the leap and join the growing freelance work force. Congrats! It’s thrilling and terrifying all wrapped up into one job. But before you ditch the desk job to be your...
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4 Important Things to Know About Form 1099
At the beginning of each New Year, you should begin receiving a host of informational tax statements from various institutions. These institutions can include banks and investment brokerages as well...
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4 Tax Tips for First-Time Freelancers
Many people these days are switching to a new model of work. Instead of being on payroll as a traditional employee, they are working as freelancers.’ Being a freelancer has many advantages. You have...
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The New Business Owner’s Guide to Filing a Tax Return
If you’ve always worked as an employee and had a relatively uncomplicated income tax return, you may wonder how much that will change now that you have a small business. It’s true you’ll have more...
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Tax Planning for the Busy Freelancer
Despite all the perks that come along with being a freelancer, paying taxes can quickly make you want to crawl back into the arms of a traditional employer. But, before you launch into complete panic...
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