Key takeaways ● Your 1099-K shows gross revenue, not what you actually kept. ● Deductions can significantly reduce your taxable income—but only if you find them. ● Start with what’s easiest to find, then work your way to industry-specific expenses. Two thoughts appeared when I first opened my 1099-K form. My first thought? That’s way The post My 1099-K Showed My Revenue. Here’s the Checklist I’m Using to Find Every Expense appeared first on Blog.
Key takeaways The 2025 tax year might be the first time I’ve ever felt excited about tips showing up as income. Usually, tips are taxed just like the rest of your paycheck. But thanks to a new no tax on tips deduction created by the One Big Beautiful Bill, reporting your tips could actually help The post Confession: I’ve Been Tracking My Tips on Napkins. Here’s a Better Way appeared first on Blog.
Key takeaways The first time someone asked me how I was handling quarterly taxes, I realized I had a problem. I thought taxes were a once-a-year thing — not something I needed to think about four times a year. That’s when I realized freelancing comes with a tax learning curve I hadn’t planned for. Why The post Wait, I Have to Pay Taxes Four Times a Year? (A Freelancer’s Guide) appeared first on Blog.
Key takeaways When I hired my first contractor, I wasn’t thinking about tax forms — I was thinking about getting some help. Then it hit me: Do I need to file a 1099 for this? If you’ve had the same question, you’re not alone. When you need to file a 1099 for contractor payments If The post I Hired My First Contractor. Here’s What I Needed to File appeared first on Blog.
Key Takeaways Every change felt sudden when I became a new parent, especially the lack of sleep. What surprised me wasn’t how tired I was, but how quickly our budget felt tighter. Diapers, childcare, and medical costs added up fast, and suddenly every financial decision carried more weight. I wasn’t looking for clever tax strategies The post I’m Running on 2 Hours of Sleep — But This New Tax Rule Could Help Cover Big Baby Expenses appeared first on Blog.
Key takeaways The first time I opened my 1099-K form, my stomach dropped. The number was nearly double what I knew I’d earned from my side hustle. I refreshed the page, checked my bank account, and hoped there was a mistake — but there wasn’t. What I was looking at wasn’t profit — or even The post My 1099-K Was Double What I Actually Earned. Here’s a 3-Step Plan appeared first on Blog.
Key takeaways Gig work is great, but income from these sources comes tax-free. Unlike a W-2, where your employer deducts income taxes before the net pay gets to you, gig work does not deduct these taxes — meaning you could owe the IRS when you file your return if you’re not paying attention. Instead of The post I Drive for Uber and DoorDash. Here’s How I Track Everything appeared first on Blog.