Thinking about running a self-employed contracting business? You’re not alone. According to the US Bureau of Labor Statistics (BLS), there are 9.379 million self-employed contractors in the United States as of November 2020.
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Becoming self-employed is a very appealing concept, as you get to choose your own hours, your own rates and in a nut shell – be your own boss!
If you decide to cut the strings and go it alone, it’s worth considering that managing your own finances can prove very tough. Alongside this, you also have to take ownership of your tax and organize your own insurance.
Here at Insure Taxi, we recognize that it can be a big challenge juggling these things, therefore we have put together a list of top tips to help you manage your money.
Seek professional assistance
An accountant can help you get your finances in order and advise you on how much tax your are paying, ensuring that you pay the correct amount and do not end up owing money. If you decide to hire an accountant fully, they can manage all of your finances for you so you don’t have to worry about a thing!