Author: Rachel M
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How to Prepare Your Business for a Recession
The U.S. is not officially in a recession. But inflation is up, and interest rates are rising, leading many to expect an economic downturn. As a small business owner or freelancer, it’s okay to feel worried about what the future holds for your company. Don’t stay down for too long though—now is the time to…
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What is a 1099 Form?
If you’ve landed here after Googling “What is a 1099 Form?” because you’ve turned a profit as a small business owner, congratulations! Now begins the slightly less fun, but necessary job of accurately reporting your income for tax purposes. Your income as an independent contractor will most likely be reported using at least one type…
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How to avoid paying taxes as an independent contractor (legally)
If it was possible to call up the Internal Revenue Service (IRS) office for a discount on tax payments, their phones would probably ring all day. But it’s not, so smart independent contractors have to explore more feasible ways to reduce income tax and keep more of their business profit. This is where tax avoidance…
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The 11 Best Apps for Independent Contractors (+ 3 Bonus Tools)
You did it. You started a business and are officially self-employed! Now, it’s time to roll up your sleeves and grow the company. You could juggle multiple parts of running a business yourself, but it’s often easier and faster to outsource these tasks to an app. To help, we’ve put together a list of the…
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A Complete Guide to LLC Accounting
Every year, more and more small business owners structure their companies as a limited liability company (LLC). In fact, the number of registered LLCs has grown every year since 2004, according to data from the Internal Revenue Service (IRS). And according to estimates, there were close to 21.6 million LLCs operating in the U.S. in…
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Client communication: A guide for freelancers and small business owners
It doesn’t matter if you’re a one-person freelance operation—it’s still worth giving your clients the white-glove treatment. According to HubSpot, 90% of clients would buy more from companies with great customer service. As a small business owner or independent contractor, you may not have a dedicated customer support team. That’s okay! Secure repeat customers by…
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How long does an ACH payment take?
What do auto-pay, direct deposit and sending your friend $20 through an app all have in common? They are all examples of ACH transfers. The reality of tapping a few buttons on a computer or mobile device and transferring money almost instantaneously is relatively new, but the infrastructure used to complete these types of transactions…
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Everything You Need to Know About Freelance Retainers
More Americans than ever are freelancing. A recent Upwork study showed that 59 million Americans performed freelance work in 2021—36% of the entire U.S. workforce. According to freelancermap’s 2021 survey, the top three challenges freelancers face are project acquisition, irregular income, and late payments. A retainer contract can remedy all three of these issues for…
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The Neat Company’s First Annual Top 100 Creative Professionals
Small business owners and creative professionals do not receive enough recognition. The role of the creative professional is very important; as they bring beauty into business, add personality to products, and make everything just a little more interesting. At Neat we decided to honor and recognize these amazing individuals in our first annual Top 100…
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How to find and calculate retained earnings
Whatever your reason for starting a business, there’s one thing that’s certain—you want to succeed. But Fundera reports that “about 20% of small businesses fail in their first year,” and 50% close up by year five. Boost your chances of success by learning how to find retained earnings—your business’s profits minus shareholder payments. Retained earnings…