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Important Things Freelancers Should Know About Taxes

<br>The Internal Revenue Service, u201cIRS,u201d considers freelancers as self-employed. So, if you are planning to work independently as a freelancer, youu2019ll have to file your own taxes. You can hire professionals for tax preparation for freelance workers to make things easier. Some important things you should know are listed here.

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Important Things Freelancers Should Know About Taxes

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  1. Important Things Freelancers Should Know About Taxes Agro Accounting CPA https://www.agroaccounting.com

  2. Introduction The Internal Revenue Service, “IRS,” considers freelancers as self-employed. So, if you are planning to work independently as a freelancer, you’ll have to file your own taxes. You can hire professionals for tax preparation for freelance workers to make things easier. Some important things you should know are listed here. https://www.agroaccounting.com

  3. Self-Employment Taxes Self-employed freelancers are considered both employees and employers. As a freelancer, you have to pay the regular income tax as well as the self-employment tax of 15.3%. The latter represents both Social Security and Medicare taxes. https://www.agroaccounting.com

  4. Income Tax Liability When you work as a freelancer, you will always want to reduce your income tax liability to the lowest allowable amount. A freelancer's business expenses are higher than those of an employee, so you can enjoy more tax deduction benefits. https://www.agroaccounting.com

  5. Tax Deduction Categories Lastly, freelancers must learn about the tax deduction categories. Freelancers can write off all the ordinary and necessary expenses for operating a business, such as: Business-related meals Travel and lodging Office expenses Required equipment or materials Phone and Internet service https://www.agroaccounting.com

  6. Contact Agro Accounting CPA for Professional Help Initially, taxes may seem like a daunting task but, with a professional accountant by your side, things will become easier. So, you can contact Agro Accounting CPA to hire skilled, experienced, and qualified accountants for professional help. We ensure to provide accounting and tax-related services at affordable prices. Visit our website to learn more! https://www.agroaccounting.com

  7. Contact Us 01 https://www.agroaccounting.com 02 basil@agroaccounting.com 03 (888) 247-6829 04 95 Third Street, 2nd Floor, San Francisco, CA 94103, United States 106 East 6th Street, Suite 900-163, Austin, TX 78701, United States

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