![]() If you know you’re in for a painful tax bill, this strategy could help. That’s 11 extra months!ĭelaying your income by just a couple of days can give you lots of extra breathing room to plan for taxes. However, a payment you get on January 1st doesn’t have to be reported until April of the following year. Here’s why: A payment you receive on December 31st has to be reported on your tax return by the following April. (Rideshare or delivery drivers, for example, are locked into a relatively inflexible payment schedule.) But for those of you who invoice clients, consider delaying your December invoicing until the New Year. This isn’t a feasible option for everyone. Tip #2: Consider deferring your business income When you’re ready to file, all you have to do is upload your 1099s, and we’ll handle the rest. The app will find and sort all of your business write-offs automatically. The Keeper app is specifically designed for gig and freelance workers. If you’re wondering where to start with this, you’ve come to the right place.
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