#self-employment
Learn about self-employment taxes, LLC owner compensation, and freelancer financial management
Hotshot trucking operators need a chart of accounts that separates fuel, MC-authority insurance, factoring fees, and IFTA liability from generic vehicle expenses, since brokers often pay 15-45 days after delivery while fuel and insurance are due immediately.
Marine surveyors often file NAMS or SAMS certification dues and continuing education costs as startup expenses, but the IRS treats recurring dues, CE tuition, and E&O insurance premiums as ordinary business expenses deductible in the year paid, not amortized over 180 months.
Real estate agents should record gross commission and brokerage splits as separate line items, not just the net deposit, because the IRS matches Schedule C income against the gross figure brokerages report on Form 1099-NEC.
How translation agencies and medical transcription services can cost freelance linguist payables against per-word client billing, avoid 1099 vs. W-2 misclassification risk, and meet HIPAA business associate recordkeeping requirements.
Starting April 2026, UK sole traders and landlords with combined gross income over £50,000 must file quarterly digital updates to HMRC instead of one annual Self Assessment return, with penalty-free late filing only in the first year.
IRS Direct File will not return for the 2026 filing season; IRS Free File, FreeTaxUSA, Cash App Taxes, VITA, and MilTax remain free options, but only some fully support Schedule C for freelancers and small business owners.
Locum tenens and travel-healthcare clinicians are 1099 contractors who owe 15.3% self-employment tax, must establish a valid IRS tax home to deduct travel costs, and often file non-resident state returns for every state where they worked.
Brazil's MEI revenue cap of R$81,000 a year has been frozen since 2018. A bill sent to Congress in June 2026 would raise it to R$110,000 in 2027 and R$140,000 in 2028, and let microentrepreneurs hire two employees instead of one — a case study in how frozen tax thresholds quietly penalize small business growth.
The IRS standard mileage rate rises to 72.5 cents per mile for 2026. Here's how it compares with the actual expense method, why your first-year choice can be irreversible, and what a mileage log needs to survive an IRS audit under Section 274(d).
Online ordination doesn't make you IRS clergy — officiant fees are ordinary Schedule C income subject to 15.3% self-employment tax. This guide covers where online ordinations face county-level recognition problems (Tennessee, Virginia), what celebrants actually charge ($300–$1,000+), and why booking deposits belong on your books as liabilities until the ceremony happens.
Subscription platforms report gross earnings on Form 1099-NEC even though they keep roughly 20% as a platform fee, and adult content businesses see chargeback rates of 3-5% — well above the 1% threshold that triggers card network monitoring — making separate bookkeeping for fees, taxes, and disputes essential from day one.
How dog boarding and pet sitting businesses should track revenue by service line, reconcile Rover and Wag payouts against the $20,000/200-transaction 1099-K threshold, file 1099-NECs for sub-sitters paid $600 or more, and apply the strict exclusive-use home-office rule — the childcare daycare exception does not extend to pet care.
