The 1099 Surprise
A lot of freelancers get their first real tax shock in April.
They saved a little for regular income tax, but forgot about self-employment tax. That is when the IRS bill suddenly feels much bigger than expected.
If you work for yourself, this tax is not optional. It applies to freelancers, contractors,…
The Remote Work Myth
Working from your laptop on the living room couch does not automatically create a tax deduction.
For federal tax purposes, the home office deduction is generally for self-employed professionals, freelancers, and small business owners. Standard W-2 employees usually cannot claim it, even when they work remotely.
Checkpoint 1: The Exclusive-Use Rule…