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Self-Employment Taxes: A Definitive Guide for Entrepreneurs

Last updated: April 12, 2024  Embarking on the journey of self-employment is an exhilarating chapter in anyone's career, offering unparalleled freedom to pursue one's passions and dreams. Yet, with this freedom comes the responsibility of navigating the complexities of self-employment taxes—a daunting task for many. Understanding the intricacies of tax obligations, deductions, and strategies to…

Tax Optimization: How MileageWise Can Transform Your Strategy

February 29, 2024 As a business owner, effective tax optimization can mean the difference between maximizing profits and overpaying the IRS. Yet, many entrepreneurs miss out on legally reducing their tax liability simply because they don’t use the right strategies.By structuring your business taxes wisely, you can lower taxable income, claim more deductions, and improve cash…

Car Depreciation: A Comprehensive Guide to Mitigating Value Loss

Last Updated: December 2, 2024Understanding the Basics of Car DepreciationEver noticed how your shiny new car seems to lose its luster (and value) the moment you drive it off the lot? Welcome to the ever-present world of car depreciation, a crucial factor that every vehicle owner should be mindful of. Let's dive into what car…

Lyft Requirements & Taxes: What You Need To Know

Last Updated: July 8, 2024 Becoming a Lyft driver gives you a flexible way to earn income, but it also comes with responsibilities that you must be prepared for.So, where do I start?In this article, we will explore the vehicle requirements and provide basic information on Lyft drivers' taxation. Whether you're new to Lyft or considering…

1099 Tax Essentials: What You Need to Know Before Filing

Last Updated: January 23, 2025For freelancers, independent contractors, and gig workers, understanding 1099 taxes can be challenging. Without the tax withholdings that traditional employees enjoy, fulfilling your tax obligations can seem like an uphill battle. However, with the right guidance and tools, managing your taxes doesn’t have to be daunting.In this guide, we’ll cover everything…