After reading the first blog TAX TRICK #1 hopefully you feel great about all the monies you received this year but it’s time to flip the coin and start to remember all the monies you spent this year.
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Taxes
Did you know?
If you are a freelancer, the minimum amount of money you need to earn and to file a tax return is $400!
"Why is the number $400? While you may not owe any income taxes, as a freelancer, you must pay self-employment taxes in addition to regular income taxes. Self-employment taxes start if you earn $400 or more. Therefore you must file a tax return if you GROSS $400 OR MORE.”