Sole Proprietor, Entrepreneur, Independent Contractor, Freelancer, Commission Income, 1099, Side Hustle, Side Business, Starting a Business.

You found the clients, did the work, and got paid. You like the feeling of doing things your way. But, you still have to pay taxes on the money that you made.

Strategy to Lower Your Taxes

First, you take advantage of all related tax deductions and credits so that your tax bill is low or zero dollars.

Then, just like you manage your business so that you make a profit, you also need to manage your expenses, purchases and payments in a way that helps to lower your taxes.

Are You Doing These Things?

Tracking All of Your Expenses

Contributing to a Retirement Account

Tracking Your Charitable Donations

Factoring In State and Local Taxes

Factoring In Self-Employment Taxes

Are You Purchasing or Leasing Equipment

Tracking Business Loan Interest Payments

Tracking All Labor Costs

Tracking All Supply Costs

Tracking Marketing and Internet Costs

Tracking Medical Costs

Want to know more?