Freelance Union
JULY 15, 2024
Most Freelance Businesses Must File Their Beneficial Ownership Information Generally, a beneficial owner is an individual who either exercises substantial control or owns 25% or more of the reporting company. Created prior to January 1, 2024, you must file your initial BOI report by January 1, 2025.
Freelance Union
JANUARY 31, 2023
The bonus percentages over the next few years are as follows: 100% for 2021 100% for 2022 80% for 2023 60% for 2024 40% for 2025 20% for 2026 0% for 2027 and beyond Accelerating depreciation deductions can reduce your tax liability, but there are other tax implications of purchasing new business assets beyond bonus depreciation.
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Freelance Union
JUNE 10, 2024
As we move through 2024, understanding these implications is essential to ensure you understand the full impact of student debt relief on your freelance taxes, especially because the current federal exemption expires at the end of 2025. Freelance taxes on student loan forgiveness may be affected at the state level.
Freelance Union
APRIL 24, 2024
If you own a freelance business that was formed in New York State, you are now officially required to report information about your business ownership and more at both the state and the federal level. and beginning January 1, 2026, New York State is introducing its own version of the Act.
Freelance Union
AUGUST 27, 2024
If you are not familiar with The Corporate Transparency Act (“CTA”) and what it means for freelance businesses, you are not alone. Here’s a quick recap of the CTA deadlines and obligations for freelance business owners: Companies formed prior to 2024 must file a report under the CTA no later than January 1, 2025.
Freelance Union
SEPTEMBER 27, 2023
His website has a resource section with how-to articles and information for freelancers. 1, 2026, on these information returns and statements, so that customers have the information they need to prepare their tax returns. Jonathan Medows is a NYC-based CPA who specializes in taxes for consultants across the country. 1, 2025.
Freelance Union
JULY 19, 2024
File your freelance taxes with confidence using TaxAct’s easy-to-use tax software. Freelancers Union members get 25% off the cost of federal and state tax filing: [link] Updated for tax years 2023 and 2024. 1, 2026, you can exclude it from your gross income. 1, 2021, and Dec.
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