Category: Business Structure
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Mastering Schedule C: The Ultimate Guide for Sole Proprietors and Gig Workers in 2025
If you’re running a business as a sole proprietor, freelancer, independent contractor, or gig worker, Schedule C (Form 1040) is essential. This form reports business income and expenses to the IRS, calculating net profit or loss that flows to your individual tax return. Proper completion can unlock significant deductions, reduce taxable income, and minimize self-employment…
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Do You Really Need an LLC? Tax Pros and Cons Explained
Starting a business often comes with one big question: Do you actually need an LLC? While forming an LLC can offer tax and legal advantages, it isn’t required for every individual or small business. Understanding the pros and cons can help you decide whether an LLC makes sense for your situation. What Is an LLC?…