Self-employed workers have additional opportunities available to reduce their taxes. Independent contractors and consultants who are 1099 workers are considered to be self-employed and have the same opportunities available to them. By addressing the following questions, many people have saved thousands of dollars in taxes.
Entity Selection: Should I form a LLC or an S Corporation? What about partnerships?
Business Expenses: What expenses are deductible? Can I deduct any personal expenses from my business?
Company Vehicles: Should my car or truck be in my business name? Should I take depreciation and actual expenses or the mileage deduction?
Retirement Plans: What type of retirement plans are available to me? What are the differences between an IRA, a SEP, and a 401k?
Family Members: Should I hire my spouse? What about my children?
Contact us today to discuss each of these options. We can show you how the answers to each of these issues can benefit you.