#SelfEmployed

How to Build an Emergency Fund When You Are Self-Employed (And Why It Cannot Wait)

Small Business Owners: Quarterly Estimated Taxes Were Due April 15 If you earn income that is not subject to withholding — self-employment income, freelance work, rental income, or investment gains — you are likely required to make quarterly estimated tax payments. Missing these deadlines does not just mean a late payment. It means penalties and interest that add up fast. Here is what you need to know: 📌 Q1 payment covers January through March income 📌 Use Form 1040-ES to calculate your estimated obligation 📌 The safe harbor rule: pay at least 100% of last year’s tax liability (110% if your income exceeded $150,000) 📌 Set aside 25-30% of every payment you receive for taxes throughout the quarter Do not wait until April to scramble. Plan quarterly, pay quarterly, and avoid surprises at filing time. Our team specializes in small business tax planning. Schnoldine Lynn Joseph — Tax Accountant, EA, IRS Enrolled Agent, Realtor John Clerge — Paralegal, Realtor, Insurance Agent, Notary Public, Financial Restoration Specialist 📞 (844) 200-8027 | (973) 392-2785 🌐 book.jrickssfinancialservices.com

Ashkan Rajaee on Level Four Entrepreneurship: The Ego Trap That Keeps Self Employed Founders Stuck I like how this breaks down the difference between freelancing and actually running a business with a team. That distinction matters.

8 Must-Try Self-Employed Business Ideas Under £100 for Stay-at-Home Moms - NorthIowaToday.com

KoneHedz Part 2:: Part 1

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The Home Office Deduction: Are You Claiming What You Deserve? If you use part of your home regularly and exclusively for business, you may qualify for the home office deduction. This is one of the most underused tax benefits for self-employed professionals. Two methods to calculate your deduction: 📋 Simplified Method: • $5 per square foot of your home office • Maximum 300 square feet • Up to $1,500 deduction with no depreciation calculations 📋 Regular Method: • Calculate the actual expenses of operating your home office • Includes mortgage interest or rent, utilities, insurance, repairs, and depreciation • Based on the percentage of your home used for business Important: This deduction is available to self-employed individuals and independent contractors. W-2 employees generally do not qualify. Do not leave money on the table. Let us review your situation. Schnoldine Lynn Joseph — Tax Accountant, EA, IRS Enrolled Agent, Realtor John Clerge — Paralegal, Realtor, Insurance Agent, Notary Public, Financial Restoration Specialist 📞 (844) 200-8027 | (973) 392-2785 🌐 book.jrickssfinancialservices.com

Level Four Entrepreneurship: What Ashkan Rajaee Gets Right About Ego, Leadership, and the Self Employed Reality A good reminder that structure creates freedom, not the other way around.

Smart Ways to Reduce Taxable Income for Self-Employed Professionals Introduction Being self-employed offers flexibility, independence, and the chance to build your own path. But it also comes with the responsibility of managing taxes. Unlike salaried individuals who enjoy automatic deductions at source, freelancers, consultants, and entrepreneurs must plan their finances carefully to minimize tax liabilities. The good news? There are several legitimate strategies to reduce taxable income for self-employed individuals without compromising compliance. This guide will walk you through practical deductions, exemptions, and financial planning tips to help you save more and pay only what’s necessary. Understanding Tax Obligations for the Self-Employed Self-employed individuals fall under the category of “individual taxpayers” in India. They must file returns based on the income earned from professional services, freelancing, or small businesses. Taxable income is calculated after deducting eligible expenses, exemptions, and rebates. By structuring your finances smartly, you can reduce taxable income for self-employed professionals effectively. 1. Claim Business and Professional Expenses One of the simplest ways to lower your taxable income is by deducting all genuine business-related expenses. These may include: Office rent or coworking space fees Internet, phone, and utility bills Professional tools and software Travel expenses for client meetings Marketing and promotional costs Salaries or payments to assistants Maintaining proper invoices and receipts ensures these deductions are legally valid. 2. Leverage Section 80C Deductions Section 80C of the Income Tax Act is a powerful tool to reduce taxable income for self-employed professionals . You can claim up to ₹1.5 lakh in deductions through investments such as: Public Provident Fund (PPF) Equity-Linked Savings Schemes (ELSS) Life Insurance Premiums Tax-saving Fixed Deposits National Savings Certificate (NSC) This not only helps with tax planning but also secures your financial future. 3. Health Insurance Benefits under Section 80D Self-employed individuals often overlook health insurance benefits. Premiums paid for medical insurance qualify for deductions under Section 80D . You can claim: Up to ₹25,000 for self, spouse, and children An additional ₹50,000 for parents (senior citizens) This is a smart way to safeguard your health while reducing taxable income. 4. Home Office Deductions If you operate from home, part of your household expenses may qualify as business expenses. For example: Rent proportionate to the office area Electricity bills for workspaces Office furniture and equipment Documenting these properly allows you to claim them as deductions. 5. Retirement Contributions under NPS (Section 80CCD) Contributing to the National Pension System (NPS) is another tax-efficient strategy. Under Section 80CCD(1B), you can claim an additional ₹50,000 deduction apart from the 80C limit. This not only helps in reducing taxable income for self-employed professionals but also ensures long-term retirement planning. 6. Depreciation on Assets If you purchase laptops, cameras, or office equipment, you can claim depreciation benefits under the Income Tax Act. This allows you to spread out deductions over multiple years, making your finances more tax-efficient. 7. Donations under Section 80G Contributions to approved charitable institutions can also be claimed as deductions. This helps reduce tax liability while supporting social causes. 8. Keep Records and File Returns on Time Maintaining accurate financial records is crucial for self-employed individuals. Proper bookkeeping ensures you don’t miss deductions and helps avoid penalties. Filing your income tax returns (ITR) before the due date also prevents late fees and interest charges. 9. Advance Tax Payments If your tax liability exceeds ₹10,000 in a financial year, you must pay advance tax in installments. Doing so avoids unnecessary interest under Sections 234B and 234C. Planning these payments also helps in better cash flow management. 10. Hire a Tax Consultant While you may manage basic tax planning yourself, consulting a professional can help identify lesser-known deductions and compliance benefits. A tax advisor ensures you stay updated with the latest rules and save more effectively. Conclusion For freelancers, consultants, and entrepreneurs, taxes may seem overwhelming. But with the right strategies, you can reduce taxable income for self-employed professionals and keep more of your hard-earned money. By leveraging deductions, planning investments, and maintaining accurate records, you can achieve tax efficiency while staying compliant. Want to stay ahead in finance, leadership, and innovation? Discover more expert insights in IMPAAKT , the top business magazine for professionals.

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Self-Employed? Your Tax Situation Is More Complex Than You Think If you earned 1099 income in 2025, your tax return requires more than plugging numbers into free software. Self-employment tax alone is 15.3% on your net earnings. That is on top of your regular income tax. Without proper deductions, you could be paying thousands more than necessary. Deductions available to self-employed taxpayers include home office expenses, vehicle mileage, health insurance premiums, retirement contributions, business supplies, professional development, and more. But these deductions must be calculated correctly and documented properly. Aggressive deductions without support trigger audits. Missed deductions cost you money. Schnoldine Lynn Joseph, EA, specializes in self-employed and small business tax preparation. She knows which deductions apply to your situation and how to maximize your return legally. Do not leave your self-employment taxes to guesswork. 📞 Call (844) 200-8027 to schedule your appointment before April 15. Real estate inquiries: (973) 392-2785 JRICKSS Financial Services

MLA K.P. Vivekananda : నిరుద్యోగ యువత ఉద్యోగాల కోసం మాత్రమే ఎదురుచూడకుండా స్వయం ఉపాధికి ప్రాధాన్యం ఇవ్వాలి MLA K.P. Vivekananda : నిరుద్యోగ యువత ఉద్యోగాల కోసం మాత్రమే ఎదురుచూడకుండా స్వయం ఉపాధికి ప్రాధాన్యం ఇవ్వాలి

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How Health Insurance Brokers Help Self-Employed Professionals Find Better Plan Finding the right health insurance can be challenging for self-employed professionals who do not have access to employer-sponsored coverage. This guide explains how health insurance brokers help freelancers, consultants, contractors, and small business owners compare plans, understand coverage options, and identify cost-effective solutions. Learn how brokers evaluate your healthcare needs, explain policy details, and help you avoid common mistakes when selecting coverage. Discover the benefits of working with an experienced broker to find a plan that offers the right balance of affordability, flexibility, and comprehensive protection for your health and financial well-being.

What happens if you’re self-employed and a creditor tries to garnish your wages? If you’re self-employed and in debt, a wage garnishment could be difficult, but that’s not the only threat you face. Juleta Martirosyan / Getty Images Household debt levels are significantly elevated as we head into mid-2026, as are the interest rates tied to the more common short-term borrowing tools, like credit cards. In turn, more borrowers are falling behind on their debt payments,… What happens if you’re self-employed and a creditor tries to garnish your wages?

College is kicking my butt but I just wanted to share here that my nilsito drawing got chosen to be in my colleges student exhibition (which im excited for but also oh god if I knew that i would have put A LOT MORE EFFORT) But I just found out today that the exhibition is gonna have like a judge and someones gonna win MONEY crossing my fingies everyone cross ur fingies for me

No Salary? No Problem! Get Quick Loans in UAE as a Self-Employed Expat Being self-employed in the UAE doesn’t mean you’re locked out of financing anymore. 💸 In 2026, quick loans in UAE for self-employed expats are easier to access—even without a fixed salary. Lenders now focus on your business income, bank statements, and credit scor e , not just salary slips. EXPAND IN DETAIL AND APPLY ONLINE 🔥 You can get: ✔ Loan amounts from AED 5,000 to AED 500,000 ✔ Approval within 24–48 hours (sometimes minutes) ✔ Options without salary transfer ✔ Flexible repayment plans 📱 Popular choices include: • Instant loan apps in UAE • Personal loans for expats • Business loans for freelancers • Secured & unsecured loan options ⚡ Pro Tip: Keep your credit score above 650 and maintain steady cash flow to increase approval chances. 👉 Whether you need money for business growth, emergencies, or personal use—fast financing is now within reach. 🔗 Read the full guide:

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