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7 of the Best Ways to Lower Your 2024 Taxes Today

The sooner you can make these moves now to lower next year’s tax bill, the better.

Your New Gig: Taxes. Navigating Taxes if You're Self-Employed

Maybe you call it freelancing, or you call it contract work, or you call it gig work. Maybe .

IRS reminds business owners to correctly identify workers as employees or independent contractors

Smart Tax Moves for Freelancers

Smart Tax Moves for Freelancers © (Getty Images) Father working from home If you earned any freelance income this year – whether you added a side gig to supplement your salary, did some freelance work after losing your job or decided to start your own business – you have access to a lot of special tax breaks. But many freelancers miss out on tax-saving opportunities because they don t realize they re eligible for these benefits. And the rules can be tricky because employees can no longer deduct unreimbursed business expenses, but self-employed people still can. Most people lose deductions because they simply do not keep records, says Mackey McNeill, a certified public accountant and financial planner in Bellevue, Kentucky, and Consumer Financial Education Advocate for the American Institute of CPAs. It s easy to simply scan and save your deductible receipts.