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Freelance Businesses Must File Beneficial Ownership Information Report for the Corporate Transparency Act by Jan. 1, 2025

Freelance Union

Get them answered in our webinar on November 6th: [link] The Corporate Transparency Act (CTA), which went into effect on January 1, 2024, has significant implications for freelancers and all business owners.

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Beware of Scams Related to the Corporate Transparency Act and Beneficial Ownership Information for Your Freelance Business

Freelance Union

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.

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New Corporate Transparency Act for New York State Requires Freelance Business Owners to File Additional Information

Freelance Union

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.

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Updated Rules on Corporate Transparency Act Reporting May Impact Current and Former Freelance Businesses

Freelance Union

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. 

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Your Freelance Taxes May Increase with Student Loan Forgiveness Key Facts About Freelance Taxes and Student Debt Relief

Freelance Union

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. 

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New IRS Guidance on Cryptocurrency May Impact Your Freelance Taxes

Freelance Union

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.

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Is Canceled Debt Taxable?

Freelance Union

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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