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Most taxpayers love deductions because they reduce your taxable income and, therefore, also reduce your tax liability. But not everyone loves going through the painstaking process of itemizing your. ....
Yes! Well, probably. If you meet the requirements, there are multiple retirement plans you can choose from. If you’re like many affluent retirees, you don’t retire cold turkey. Perhaps you consult for your former employer or the industry you worked in. Maybe you do something else altogether, to keep engaged. Regardless, if you earn self-employment income, you are likely eligible to save funds that you don’t need day-to-day.Let’s say real estate is your passion. So, after you turn in your keys, y ....
Fact-Checked by: Patrick Villanova | Edited by: Mike Obel Unlocking financial freedom may seem like a daunting task, but it can be done by correctly implementing a financial strategy based on active and passive income. While active income requires more direct hands-on work, passive streams automatically generate income without you having to work for it. […] The post Active Income vs. Passive Income appeared first on SmartReads CMS - SmartAsset. ....
Being self-employed has major appeal, such as the financial freedom to expand your business on your own terms; opportunity for partnerships or acquisition; and the freedom to wear pajama bottoms all. ....
When you're a driver for a ridesharing company such as Uber, Lyft, or other car sharing service, the most important thing to understand about your taxes is that you are probably not an employee of a ridesharing company. Drivers for these companies are usually independent contractors, a fact that has tax implications, both at filing time and year-round. ....