Independent contractors enjoy the freedom of working with different clients and defining all the aspects of their business. An essential part of being an independent contractor is keeping track of income and paying 1099 taxes. We know many businesses and self-employed individuals have had economic struggles during the pandemic. If you’re just starting as a consultant, freelancer, or contractor and you need to learn more about 1099 taxes, here are five reliable sources to help you learn more about your taxes.
Internal Revenue Service
The first place to start when searching for reliable tax information would be the IRS website. Here, you’ll find the most up-to-date and relevant information to keep yourself organized and ensure you have all the information you need to report during your earnings throughout the year. Small business events and online learning are also available to help you get connected and be prepared.
Greenblatt Financial Services
Greenblatt’s Financial Services is another excellent resource to learn about tax preparation and make sound business decisions. Our tax and accounting firm offers tax services, preparation, planning, and business consulting. If you’re just starting with 1099 taxes or you’ve had a lousy experience filing taxes in the past, contact our team to schedule an appointment today. Don’t wait or hold off all your questions about your tax filing concerns. You’ll want to stay ahead and prepare for the time to calculate your deductions and file your taxes correctly.
Intuit TurboTax
TurboTax is a reliable company that has been around since 1984. Utilizing the resources on their website, you’ll find the best tax tips, guides, videos, and instructions for 1099 forms. Instructions and directions offer detailed explanations about tax exemptions and even how to read tax forms that may be difficult to understand coming directly from the IRS websites.
Independent Contractors Benefits Association
The ICBA is an association created to provide content that gives independent contractors and small business owners the tools and strategies needed to succeed. This non-profit offers a reliable range of resources to help small businesses and independent contractors with networking and tax information.
Score
Score is a network of small business mentors that offer many free resources for small businesses, self-employed individuals, and start-ups. You can find a mentor or browse the recorded webinars on their website to get more information on preparing yourself and your business to keep track of your earnings for yearly 1099 taxes.
Although many people have taken the opportunity to file their taxes, it’s common for people to feel overwhelmed during tax season. Greenblatt Financial Services is available year-round to help you get yourself, and your business prepared. Don’t lose sleep over your taxes. Call Greenblatt Financial Services to schedule a free consultation.