It’s hard to believe but it is nearly April and only a few days away from the deadline to file your taxes (this year it is April 18th.) The NY Times recently had a great primer on tax tips for the gig economy. This is a MUST READ for all Second Shift members; it walks through all sorts of complicated deductions and tax structures and payments. One great tip to be organized about your deductible expense is to use a dedicated credit card and checking account for all business related expenses.
Here is another resource highlighted in the article;
QuickBooks Self-Employed, an accounting program and app, recently introduced a new automatic mileage-tracking feature. And Xero Tax Touchis an app that helps on-demand workers keep track of their incomes and expenses on the go. The information can be transferred to a Schedule C at the end of the year.
Don’t know what a Schedule C is? you got a lot of work to do in the next 2 weeks!!