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Use One of These 8 Essential Bookkeeping Apps For Your Side Hustle

When running a business, good bookkeeping is a must. Here are 8 essential bookkeeping apps for your side hustle. ....

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7 Ways to Start Minimizing Your 2021 Taxes Now

Probably the last thing you want to think about when you’ve just filed your taxes for 2020 is your 2021 taxes. Even if your prep for the past tax year went well, it’s nice to not worry about taxes for a while. But as the overused cliché goes, income tax preparation should be a marathon, not a sprint. It’s something you should be thinking about and planning for year-round.
Now is the perfect time to start, while this past year s tax issues are still fresh in your mind. After all, your current financial activities will impact your returns next spring. And you want them to have the right kind of impact, if possible. Note that if you ....

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I made a tax mistake when I started freelancing, new system is simple

In 2015, I got really serious with my side hustle and ended up earning well over $30,000. While I was proud of the extra money I d made, I realized I d made one major mistake when tax season rolled around not closely tracking my income or expenses. I was so excited about making money with a side hustle, but I paid for it the following spring by spending hours trying to organize my financial documents and data.
Not tracking my income meant not knowing how much tax I might owe
As a freelancer or contractor, I did receive a few 1099 forms from companies I worked for. As long as you earn $600 or more as a contractor, it s a requirement that companies send you a 1099 form stating how much you earned; this also gets sent to the IRS. ....

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The Best Small Business Accounting Software for 2021

Choose the Right Financial Tools for Your Business
Compare Specs: Our Picks Side by Side
Keep Business Running With A Small Business Accounting Website
Tens of thousands of small businesses in the US have closed permanently since COVID-19 shutdowns began in March. And now that the weather is turning colder and people will be staying indoors more, we could continue to see more waves of the virus spreading throughout the country. Whether or not that leads to a return to shutdowns, small businesses will undoubtedly continue to suffer. If you own a small business that has lost customers and sales in 2020, you need all the help you can get to survive. ....

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