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5 Tips to Make Filing Taxes Easier for Freelancers in 2023

Success

It can also make things more complicated when it comes to filing taxes. Keep reading for tips for how to do taxes as a freelancer and make filing this year a little easier. Generally, the expenses involved in operating your business or side hustle can be tax-deductible. Becoming your own boss can change your life for the better.

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Who’s Stuck With The Bill?

Allwork

The rise in working remotely comes with several costs, which include internet subscriptions, computers and office equipment, home office furniture, security, insurance, and software. Those costs include internet subscriptions, computers and office equipment, home office furniture, security, insurance, and software.

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4 Smart Money Moves to Plan for Financial Security

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Maybe you dream of attending drama school one day or purchasing recording equipment to help with your podcasting side gig (don’t we all?). This goal is more expensive than I’d like to admit, so I strategically plan for those purchases by saving for them on a monthly basis. For me, this is collecting limited-release sneakers.

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Making Taxes Less Taxing

Success

As a result, taxes can feel like an overwhelming task to tackle, whether it’s your first time filing as a freelancer or your fifth. Lee lists the following benefits of doing your taxes: You may discover expenses that have been billed twice by mistake. You can determine expenses to cut.

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These 4 Small, Consistent Changes Helped Me Reach My Potential

Success

For example, on April 4, I wrote, “Having a car gives me a lot of mobility options that would otherwise be very expensive.”. Here’s what I found: I completed my workout faster, as I didn’t need to wait for equipment. Every morning, I would write down a thing and a brief explanation of why I was grateful for it.

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How to Make Your Workplace Greener

Eco-Office Gals

Though the initial expense may be off-putting, replacing old IT equipment with newer versions can reduce your carbon footprint, and may lower future costs through reducing the need for maintenance. Equipment you may consider replacing includes: CRT monitors: replace with LCD monitors (lower power consumption).

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Little Green Footsteps

Eco-Office Gals

There are examples of organizations who have successfully eliminated unnecessary paper waste in their organization by digitizing key business processes, such as the mail room, accounts payable, expenses. use; holiday forms, purchase order sign-off, invoice sign off, expenses, just to name a few.