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4 Steps to Simplify Tax Time

Let’s face it: doing all of your taxes is an actual ache. And it’s that a lot tougher while you’re a freelancer. So something we are able to discover that makes submitting them simpler, we’re all for. That’s why we’ve partnered with Visor’s best-in-class tax workforce, who focus on serving to freelancers, and are specialists at discovering methods to avoid wasting you cash. So no have to panic as Tax Day quickly approaches—we’ve damaged every step of doing all of your taxes down into bite-sized, actionable items.

Log your bills and revenue

It sounds easy, however logging your bills and revenue is without doubt one of the most significant steps to submitting your taxes. With out coming into this info and categorizing it, you (or your accountant) received’t have the ability to construct a transparent image of your small business.

In case you’re nonetheless seeking to care for this, AND CO’s free accounting instruments can help you log your bills and revenue merely and simply. Because of their integration with Visor, with only a click on, you possibly can ship your info over to skilled accountants to do your precise submitting.  

Get the deductions you’re eligible for

Don’t consider getting deductions as “gaming the system.” The easiest way to take a look at it as ensuring that the entire sources and prices related to constructing your small business are usually not being taxed as common previous revenue. Visor’s tax workforce makes a speciality of discovering deductions for self-employed enterprise house owners, making certain that you just’re not paying greater than you should.

Plan forward and keep away from surprises

Hopefully, you’ve been doing this already, however in case you haven’t it’s a fantastic behavior to begin now. A method to try this is by submitting quarterly tax estimates. This may appear extreme, however is definitely one of the simplest ways for freelancers to offer correct reporting to the IRS and, most significantly, keep away from huge surprises come (subsequent) April.

File your taxes

Submitting taxes as a freelancer is extra difficult as a result of as a substitute of a single employer or revenue stream, you’ll doubtless be coping with a number of if not dozens of 1099s from varied employers. As you get began, one of many first steps it is best to take is to discover a reliable accountant that will help you throughout key tax deadlines. Whereas this will probably be an added expense, it is going to prevent time in the long term and offer you peace of thoughts when submitting on a quarterly and annual foundation. Utilizing evergreen accounting software program like AND CO — which mechanically syncs together with your checking account — generally is a lifesaver too.

Use Visor and breathe straightforward

Along with the following tips, we need to aid you save much more: Fiverr has negotiated an unique $150 low cost for the Fiverr group to make use of Visor — the largest value discount they’ve ever given. Leverage this distinctive deal and reap the advantages of their private tax specialists, year-round availability (so you possibly can leap on it slightly earlier, subsequent yr) and clear pricing. Try Visor now and begin your one-on-one tax session right now!

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