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Article / Updated 09-15-2023
You’re free! Free to sleep in until 11 a.m., free to work while your adorable toddler plays at your feet, free to . . . keep really good records of all your expenses for your taxes.Not so fun. The reality is, being self-employed can be awesome for 11 months out of the year, and then come crashing down on your head in the form of lost receipts and unpaid estimated taxes in April.
Article / Updated 03-26-2016
If there is one thing to make sure you get right on your taxes, it’s your filing status. It can determine how much you pay (or save) in taxes. Plus, it’s one of the things that, if you get it wrong, will definitely land you in a dreaded audit.
(Find out what else will get you audited.)
Your filing status basically expresses how you wish to be treated by the IRS, and can determine which deductions and credits you are allowed to take, which forms you should fill out and more.