Updated Worker Classification Rules Which May Affect Freelance Businesses

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New Guidance on Employee vs. Independent Contractor Status from the Department of Labor Takes Effect March 24, 2024 The U.S. Department of Labor (DOL) has introduced the Final Rule on Employee or Independent…

Dealing with Cryptocurrency in Your Freelance Businesses? Quick Tips on Filing Form 8300, Report of Cash Payments Over $10,000

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Late last year, the IRS issued notice that starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing…

Get Your Freelance Tax Information Ready Now! The IRS Announces Tax Return Filing Starts Jan 29, 2024

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The Internal Revenue Service (IRS) has set Monday, Jan. 29, 2024, as the official start date of the nation's 2024 tax season when the agency will begin accepting and processing…

Do You Owe Pandemic-Era Freelance Taxes? IRS 2020 and 2021 Penalty Relief May Reduce Your Tax Burden

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If you owe freelance back taxes from tax years 2020 or 2021, the Internal Revenue Service (IRS)has good news: it recently announced new tax penalty relief for individuals, businesses and…