Using Mileage Tracking to Maximize Tax Savings

Guest Blog Post By: Andy Pillsbury, VP SherpaShare Mileage tracking can help freelancers secure deductions of $6,000 or more on taxes.  The following outlines how apps such as Simple and other can help you maximize deductions. What is mileage tracking and how does that relate to saving money on taxes? The IRS allows freelancers to […]

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Estimating Income Taxes for 1099 Independent Contractors

If you participate in the sharing economy by working as a 1099 contractor or by renting your home on Airbnb, you know that you will likely be required to pay taxes on your income. But just how much do you need to save in order to cover your tax payments? Here is a brief guide to help you determine how much to put aside for Airbnb and 1099 contractor taxes.1099 ContractorsIn most cases, sharing economy workers are considered as 1099 contractors for tax purposes. The only way you would not be cons […] […]

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