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Taxes & Accounting

Access resources and articles to help you manage important accounting needs and tax requirements for your consulting/freelance business.

Determining If You Qualify as an Independent Worker or an Employee:
Are you an independent contractor or an employee? The company you work for may be paying you as an independent contractor but treating you like a regular employee. If so, the IRS has issued Form 8919 for misclassified workers. It is used to figure and report your share of uncollected social security and Medicare taxes due on your earnings. Filing the form may mean paying less than you would in SE…

Preparing for SE Tax
Don't get caught off guard when tax time rolls around. Follow this tip to make sure Self-employment taxes don't drain your business bank account.

Avoiding the Red Flags of a Small Business Audit
Small business audits are on the rise, and the IRS may decide it's time to take a closer look at your consulting business. About.com Guide, Mark Minassian shows you how to avoid the common red flags that could lead to an audit.

Tax Deductions for a Home-based Business
Many consultants and freelancers prefer to work from a professional home office. Come tax time, that means the IRS allows you to take deductions. Find out from About's Guide for Home Business if your home-based business qualifies for special tax deductions.

Choosing Software for Your Small Business: Quicken and QuickBooks
As the number of small businesses have grown, so have the amount of do-it-yourself accounting software packages. Which one best serves the needs of your freelance business? Financial Software Guide, Shelley Elmblad, compares two popular over-the-counter solutions: Quicken Home & Busines and QuickBooks Simple Start.

Preparing a Business Tax Return
Filing a company tax return the first year in business doesn't have to be difficult. Guest writer, and C.P.A. Joseph L. Rosenberg tells you what to expect and how to prepare for that first tax return.

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