Are You Required to Pay Self-Employment Taxes?

When you’re self-employed, you can enjoy benefits such as being your own boss and possibly even setting your own schedule. However, you’ll probably also pay more in taxes than somebody who is not self-employed—and that’s all thanks to…

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Could Your Business Benefit From a Document Management Solution?

Is your business still storing its documents the “old-fashioned” way in filing cabinets? If so, then it may be time to make the switch to a document management solution. In doing so, you can streamline operations at your…

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Understanding the Profitability Analysis and Why You Need One

When clients meet with Counting House Associates for business counseling, one of the first things we recommend is completing a profitability ratio analysis. Knowing the profitability of a company is essential to gauging its health and making future…

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Buried in New Hire Paperwork? Counting House Can Dig You Out

Hiring a new employee is a lot of work. First, your company needs to craft a job advertisement and then select candidates for interviews. Then comes checking references and running a background check to ensure your business is…

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Self-Employment and Health Insurance: What You Need to Know

There’s a lot to love about being self-employed and working as your own boss. Unfortunately, the lack of benefits (like retirement fund matching and health insurance) isn’t one of them. If you’re self-employed and are currently without health…

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Self Employed? Don’t Overlook These Tax Deductions!

When you’re self-employed, tax time can be especially stressful. This is especially true if you owe self-employment tax, which can easily eat up 15.3% of your taxable income. The good news? There are plenty of tax deductions offered…

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4 Common Small-Business Accounting Mistakes (And How to Avoid Them)

New to small business ownership? If so, you’re probably still learning the ins and outs of handling your small business accounting. Unfortunately, there are a lot of mistakes you can make from an accounting perspective that can be…

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Is an SEP-IRA Plan Right For You?

While being self-employed comes with some inherent perks, one of the potential drawbacks of self-employed life is not having an employer-sponsored retirement fund (such as a 401K). Still, there are plenty of viable retirement plan options available to…

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4 Things Employers Need to Know About 1099 Forms

When your business works with an independent contractor or freelancer, it is often necessary to provide him or her with a 1099 form at the end of the tax year. Specifically, the purpose of a 1099 is to…

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What Self-Employed Workers Need to Know About Claiming Emergency Paid Sick Leave

The coronavirus pandemic left many hard-working Americans in a difficult place financially in 2020. Not only did people lose their jobs as a result of business shut-downs, but many self-employed workers found themselves struggling as well. Even those…

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