If your business is earning steady profits, the S-Corp election could be a game-changing way to reduce your tax bill—without working more hours or taking risky shortcuts. This post breaks down what an S-Corp is, how it works, who qualifies, and what to consider before making the switch. Because when it comes to building wealth, keeping more of what you earn is just smart business.

Katelyn shares her experience navigating money in marriage, highlighting how open conversations and teamwork create a supportive financial partnership. After learning from past relationships, she and David, her husband, found balance by dividing responsibilities based on strengths rather than splitting everything 50/50.

Understand 1099 forms and how they pertain to self-employment taxes. This comprehensive guide is essential for freelancers, small business owners, and gig workers looking to navigate their tax responsibilities with confidence.

Tax extensions can provide invaluable relief during the hectic tax season, allowing more time to file and reducing the chances of errors. Understand the benefits and considerations to determine if this option is right for you.

With the new Beneficial Ownership Information (BOI) reporting requirements officially underway, 2024 is the year to ensure your business complies. Whether you’ve been putting it off or just need clarity, we’re here to help you understand the essentials, from deadlines to penalties to practical steps for compliance.

BOI refers to the nitty-gritty details about who really owns or pulls the strings behind a company. Imagine it like unmasking the wizard behind the curtain in Oz.

As we approach the end of the year, many of our clients start to ponder a critical question: "Do I need to spend more to save on taxes?" It's an important consideration, and the answer varies based on individual circumstances. Let's explore the intricacies of strategic spending and charitable contributions for optimizing your tax position.

It’s Small Business Saturday, y’all, which means one thing - you get to meet one of our incredible clients! You’ve seen her TFCFO graphics grace your feeds every week (so talent). But she’s more than just the magic behind the ‘gram. What a better person to introduce for our inaugural Small Business Saturday Featurette than the one, the only -

Maia Chloe Lopes-Gilbert!

It’s Small Business Saturday, y’all, which means one thing - you get to meet one of our incredible clients! You’ve seen her TFCFO graphics grace your feeds every week (so talent). But she’s more than just the magic behind the ‘gram. What a better person to introduce for our inaugural Small Business Saturday Featurette than the one, the only -

Kelci Douglas!

How is it going to affect you and your business? What is this about those 87,000 IRS agents? Is it really going to reduce inflation? As if our last post about student loan forgiveness wasn’t enough to take in, we’ve got another information-loaded blog headed your way, all about the Inflation Reduction Act.

You’ve asked, and we’re finally getting around to getting you (some) of the answers. Here’s everything we know so far about the Biden Administration’s student loan forgiveness plan.

It’s no stretch to say that many of us have a… complicated relationship when it comes to money. Money provides security, freedom and opportunity, but it's also the source of so much of the world’s problems: greed, conflict, betrayal and abuse of power (to name a few). Wealth, after all, is kind of a reflection of self… the good and the bad.

We get asked a lot of questions at The Freelance CFO. From how to get the best results from your tax returns, to which business entity would be best for your specific situation, to even whether or not you should actually get into Game of Thrones after all these years (we have opinions okay?).

When you think of the stock market, a few things probably come to mind. The ultra-wealthy, for one, not discounting the overwhelming history of insider trading, corruption and gatekeeping that’s contributed to decades of wealth disparity (though, that’s a conversation for another day). Frankly, the stock market - and investing in general - isn’t something that gives us the “warm and fuzzies.” But investments can do more than line the pockets of millionaires - they can make a difference.

Unforgiving and toxic talk has permeated the fitness industry for decades. The idea that you can’t give yourself wiggle room on your fitness and dieting goals; the all-or-nothing mentality; the constant barrage of fitfluencers and internet experts telling you that their way is the only way. We all know that kind of talk is toxic af. And, unfortunately, it’s not the only industry where it exists.

Yup. We’re talking about your bag.

No matter the level of financial education you’ve received thus far - whether that’s from elementary school, your parents, the internet or a degree in finance - there’s probably a topic that constantly pops up, and yet remains one few truly know how to handle with grace, understanding and flexibility.

Budgeting.

That dreaded deadline that strikes fear into the hearts of individuals and businesses across the country. That looming financial spector, hovering over the first days of spring much like a dementor hovers over Azkaban. The prophesied day of nationwide malcontent that drains not only our collective bank accounts but our will to live.

But, it only happens once a year, right?

… right?!

You’ve been making money moves, okay? The baseline has been established and met, you’ve paid all of your bills and now you have extra cash, ready to be spent. Real hot girl shit. So. Why are you still afraid to buy that latte?

If there’s anything that we know how to preach about here at The Freelance CFO, it’s preaching empowerment and intentionality in your financial decisions. We firmly believe that every single one of you is capable of becoming the architect of your own financial future. And there’s no better example of this than when the moment comes for you to lay your small business’s foundations and make it legit. But… it can be a bit, ya know. Overwhelming.