How Accountants can Help a Freelancer to Save Money
Freelancing is a freeing experience, especially when you know that you don’t have to get up and commute to work every single day. However, as soon as the end of the year comes around, freelancers have the daunting task of collecting all of their receipts of everything that they bought in order to run the business. That’s where accountants come into play. They can help freelancers complete their 1099 correctly and pay their federal and state taxes on time. Many freelancers end up overpaying the IRS each year because they could have deducted many more expenses but failed to place it on their tax form.
Focus on Your Business
With your taxes in order, you can focus on making your business even more successful in the coming year. Even though, when you make more money, you have to pay more self-employment taxes, accountants will make you feel at ease because you can always contact them with any tax-related questions, so you’ll be well prepared before the tax season arrives. For example, your accountant may suggest that you make estimated tax payments over the course of the year, so you won’t have to come up with one lump sum in April.
It’s difficult to trust people with your finances because most people are out to help themselves. When you have an accountant that you can rely on, they will gain not only your trust but your business and friendship. There is no need to go from one place to another to get information about your personal finances. One accounting firm should be your one-stop shop for all of your accounting needs with affordable prices to assist you with your needs. Your personal accountant should have your back when it comes to your money.