Tax Tips for the Self Employed
We are so proud to have been included in a recent article by Work At Home FAQ, a website focused on answering questions around working from home, self-employment and side hustles. We shared some of our top tips which couldn’t be more timely. Here’s a sneak peek…
End of year tax tips for the self-employed
“One of the most daunting aspects of being a small business owner or freelancer is trying to figure out how to navigate bookkeeping and taxes. While it may seem overwhelming at first, it really is just a matter of being organized and surrounding yourself with smart people who “nerd-out” over things like deductions, receipts and contracts.
We rounded up some of the best and brightest accountants and tax advisors to help you get ready for tax season. Don’t wait for 2019 to get your business in order! Putting these tips in place before the end of the year may just help decrease your tax bill for next year!”
Look to Next Year – Planning ahead is essential for small business growth
“Make sure to have your bookkeeping updated so that you can meet with your CPA before the end of the year for proper tax planning. Operative word being “planning.” Meeting with your CPA without an accurate and reliable profit and loss statement is meaningless because your CPA will not be able to do a proper evaluation and help you save in taxes. And waiting until March or April will also not help because it is already too late at that point for most tax planning tools,” said Emil Abedian, CPA and founder of Anchor Bookkeeping.
With a little over three months until income taxes are due, now is an ideal time to get your 2018 books in order. Call or email us to discuss the best monthly subscription option for your business today, and free yourself up in 2019 to focus on growth instead of bookkeeping.
For more tax tips for the self employed, be sure to check out our previous blog here: https://blog.anchorbookkeeping.com/tax-tips-for-the-self-employed/.