How It All Works – Tax Planning as an Independent Contractor

Let’s face it, Tax planning as an independent contractor can be challenging. You’re dealing with bookkeeping, payroll, & taxes, which can be confusing and frustrating. At IC Tax Advisors, we understand you, the independent contractor and we are fanatical about saving you money. Here’s how the process works (in a nutshell):

1. Speak with one of our tax specialists to determine what makes the most sense for your business.

2. If we need to create an entity (LLC), we have attorney’s that you can work with to do so.

3. We file an S election for that entity if the savings justify the cost ($30,000 or more in taxable income).

4. We set up your payroll and determine the frequency of your payments.

5. You have regular “tax checkups” to see if your situation has new tax opportunities.

6. We do your bookkeeping–you just need to give us access to your monthly bank statements. We recommend you send us receipts, but they are not required. We will record and reconcile your transactions and accounts.

7. We file all your business tax returns and any 1099s, etc.

The savings we generate for you will more than offset your monthly investment. We guarantee it because we’re ridiculously good at this.

CLICK HERE FOR A FREE TAX CONSULTATION

Tags: financial services for freelancers, freelancer tax checkup, freelancer tax returns, independent contractor payroll