Contractor Tax
2 articles
Tax Planning
Contractor Equipment Depreciation: How to Deduct $500K in the Year You Buy It
Contractors who understand Section 179 and bonus depreciation can write off hundreds of thousands in equipment the year they buy it. Here's exactly how it works and what qualifies.
Tax Planning
LLC vs. S-Corp for Contractors: The Entity Choice That Saves (or Costs) $15K a Year
Most contractors operate as LLCs but pay thousands more in self-employment tax than necessary. Learn when to elect S-Corp status and how much it can save you annually.