Frank Ellis reveals knowledge freelancers can use to maximize their write offs this tax season, in an article on nationaltaxreports.com.
July 15, 2016 — Now on nationaltaxreports.com, Frank Ellis explains how freelancers can maximize their write offs and tax credits this tax season. The tax requirements of self-employed individuals are explained. Tips on making taxes more manageable are provided by the author.
The first tip Ellis provides is to keep paperwork organized. Important documents should be readily available so they are easy to find when it’s time to file taxes. The author highlights tools such as QuickBooks and Dropbox. With QuickBooks, the author says everything is kept organized, while other methods of organizing documents and receipts are available.
The types of paperwork needed are explained. These are important for claiming deductions, the article says. Taxpayers need information such as proof their home is used for business, vehicle expenses, and a list of the equipment they use such as computers. Educational expenses and website design and hosting fees should be documented and saved as well.
Deductions are important to keep track of. The author also says freelancers should be aware of eligibility for credits, while he also emphasizes the importance of write offs. Ellis stresses that freelancers can keep more of their hard earned money by knowing the right credits and deductions to claim.
In addition, he notes the benefits of filing with H&R Block and the company’s discount coupon. The coupon, according to Ellis, will have less value the later one files. To read the article and learn from the tips for freelancers to save money during tax season, go to http://nationaltaxreports.com/what-freelancers-need-to-know-to-maximize-their-write-offs-during-tax-time/.
Additionally, taxpayers can search the site for other informational tax articles and comment on each post with insight, opinions, and responses.
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.
National Tax Reports
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