Check the tax laws carefully, however, and keep in mind that certain expenses, such as business outfits, are not tax ...

Choosing the right legal structure for your business can make the difference between success or failure. Explore the pros and ...

The definition of a self-employed worker has expanded as side hustles, freelancing and consulting have grown in the age of ...

Despite the remarkable value, many self-employed people are missing out on the "Credits for Sick and Family Leave." ...

Running a small business allows you to avoid paying taxes that you would not have done otherwise. Taking use of various deductions is among the most effective strategies to reduce your tax liability.

Navigating the world of business involves understanding various identification numbers. Two key types are Tax ID numbers and ...

An alternative to traditional moot court competitions, the Law Student Tax Challenge (LSTC) is organized by the Section’s Young Lawyers Forum. The LSTC asks two-person teams of students to solve a ...

As a sole proprietor, there is no legal separation between you and your business. Still, it's beneficial to separate your business and personal expenses to simplify your bookkeeping and taxes.

We also spoke with Zaher Dehni, CEO of tax consultancy Taxfully and IRS-certified enrolled agent, who identified several main advantages he feels sole proprietorships offer. Simple and convenient ...

Getting a self-employed business loan, however, isn’t always easy. Lenders may ask sole proprietors or freelancers for additional documentation to prove that their income is reliable.

Sole proprietorships don’t have any liability ... your EIN instead of your Social Security number when you fill out tax forms like the W-9. Using an EIN offers an extra layer of protection ...

Sole proprietors must pay self-employment taxes if the business’s overall profit surpasses its annual expenses. This information is reported on Schedule C with Form 1040 of your personal income ...