Skip to main content

#self-employment

Self-Employment

Learn about self-employment taxes, LLC owner compensation, and freelancer financial management

231 postsView all tagsBack to All Posts

Still Paying Off School While Running Your Business? How the $2,500 Student Loan Interest Deduction Works in 2026

For tax year 2026 the student loan interest deduction is capped at $2,500, claimed above the line on Schedule 1, and phases out between $85,000 and $100,000 of MAGI for single filers and $175,000 to $205,000 for joint filers. This guide covers the five eligibility tests, what Form 1098-E does and does not report, and why self-employed borrowers cannot move the interest to Schedule C.

mike

student-loanstax-deductionsself-employment

Vietnam Abolished the Business License Tax in 2026: What Freelancers and Household Businesses Actually Save

From 1 January 2026 Vietnam no longer collects the business license fee (lệ phí môn bài) and no longer requires its annual declaration, saving companies VND 2–3 million and household businesses up to VND 1 million a year — but arrears for 2025 and earlier remain collectible, and VAT, income tax and e-invoicing obligations are unchanged.

mike

taxtax-compliancesmall-business

Working While Collecting Social Security in 2026: What the Earnings Test Takes From Your Checks

In 2026 the Social Security retirement earnings test withholds $1 of benefits for every $2 earned above $24,480 before full retirement age, and $1 for every $3 above $65,160 in the year you reach FRA. Wages and net self-employment profit count; pensions, IRA withdrawals, dividends, and rental income do not — and withheld benefits are credited back through a higher monthly check at FRA.

mike

retirementretirement-planningpersonal-finance

Home Family Child Care Taxes: How the Time-Space Percentage, Standard Meal Rates, and Your Attendance Log Work Together

Family child care providers get two tax breaks most home businesses cannot claim. The daycare exception to the exclusive-use rule prorates rent, utilities, insurance and depreciation by a time-space percentage, and IRS standard meal rates ($1.66 breakfast, $3.15 lunch or dinner, $0.93 snack for the 2025 tax year) replace grocery receipts. This guide shows how to compute the space and time fractions (including setup, cleanup, cooking and paperwork hours), which expenses the percentage applies to, how to net CACFP reimbursements against food costs on Schedule C, and the one attendance-and-meal log that substantiates both deductions.

mike

childcaretax-deductionsself-employment

Freelance Translator and Interpreter Bookkeeping: Reconcile Every Word, Hour, Currency, and Agency Cut

A bookkeeping system for freelance translators and interpreters that tracks per-word, hourly, and project income separately, reconciles agency statements from gross invoice to net deposit, records foreign-currency receipts at documented exchange rates per IRS rules, and measures effective hourly rates — with a chart of accounts and monthly close checklist.

mike

bookkeepingfreelanceself-employment

Czech Flat-Rate Tax in 2026: How Self-Employed People Choose a Paušální Režim Band

The Czech paušální režim bundles income tax, pension, and health insurance into one monthly payment — CZK 9,162, CZK 16,745, or CZK 27,139 in 2026. This guide covers how the 75% activity-composition test assigns your band, the retroactive Band I reduction from July 2026, the 12 January entry deadline, and the records OSVČ should keep even without an annual return.

mike

taxself-employmentfreelance
Start Free→Documentation