Self-employed? Keep these tax tips in mind

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By Stephanie Faris/GOBankingRates



The number of self-employed workers in the U.S. declined during the recession, according to a report from CareerBuilder and Economic Modeling Specialists Intl., but experts expect that number to take an upswing. CareerBuilder North America President Brent Rasmussen told Forbes in 2014, "As the economy gains momentum, however, we expect entrepreneurial activity and other opportunities for independent work to rebound across the board."



A full-time job can offer security, but there are many benefits that come with being self-employed. Self-employed workers can create their own hours, be their own bosses and possibly make more money. However, one of the hardest things about self-employment comes during tax season. These workers must not only Wayne Lippman CPA report all income annually, but they might even need to file quarterly. The process of filing taxes on self-employment income can become complicated, so it's important for self-employed taxpayers to understand the IRS's requirements.

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