As tax filing day approaches, I'll be working my way through a list of to-dos to make sure I'm maximizing my savings
Since I work with contractors, I have to file 1099-MISC forms and send copies to them no later than January 31 — so I've also finished this tax. If you have employees, you're required to report their earnings to the Social Security Administration on form W-3 and send each employee a copy of Form W-2 by the same deadline.: Starting at $50 per form if it's less than 30 days late, and up to $270 per form if you never file them at all.
If you use your personal vehicle for business purposes, you can take a credit of 54.5 cents per mile driven — but you have to have supporting documentation in case you get audited. There are a lot of apps available to help automate this process, but you can also do it manually with a spreadsheet or even a notebook.
If you have a home office or other part of your home that's used exclusively for business, also take photos of that space – that provides supporting documentation if you're taking a home office deduction. Also make sure to measure the space while you're at it, since you'll need that number for your tax return.
If you work for a gig economy company like Uber, Lyft, Postmates, or Airbnb, check your account for a tax summary that provides some of the relevant numbers you'll need to report income and expenses., allow adding funds for the 2019 tax year well into 2020. I'll be double-checking to make sure I've contributed the maximum amount for 2019, and adding more money if I haven't – this will both reduce the amount of taxes I owe and help set me up for success in the future.
Norge Siste Nytt, Norge Overskrifter
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