5 Simple Small Business Tax Tips That Every Freelancer to Know
Since this recession in our economy has hurt the world, individuals have been turning to operating freelance online. And that's why I'm writing this article for the new small business owners. In this text, I am going to be discussing some vital small business tax saving tips so that you won't go crazy filing your taxes at the end of the year. Thus here are the 5 tips you would like to remember. 1. Separate your personal and business Expenses Now that you just are a business owner, you must understand that you simply are spending money for various reasons. It might be a record keeping nightmare to commingle your personal and your business expenses and income. The simplest manner to try to do this is to use separate checking accounts and credit cards, one for business and one for personal. 2. Keep a track of each of your receipts When you are new to small business taxes, you may not recognize which expenses are tax deductible. When you are doubtful, save