SAN FRANCISCO, December 2, 2020 (Newswire.com) - In the last five years, Bonsai has helped 250,000+ freelancers run better businesses. However, a large and recurring theme is confusion and frustration with self-employed taxes. This is unfortunately one of the trickiest (and most annoying) parts of being self-employed.
"I've freelanced for many years, and self-employment taxes were always an area of confusion," said Bonsai's Head of Marketing, Madhav Bhandari. "We put together a bunch of content for our paying users on navigating self-employment taxes and then decided to make it free and public for everyone this year. The resource hub itself took years of hard work from our team. As the year comes to an end and you start reflecting on 2020 and planning for 2021, we hope this gives freelancers some help and confidence in managing their finances."
Here's a short summary of the resources in the Bonsai's Freelance Tax Hub to help you get ready for tax time:
- A tax calculator to estimate your 1099 taxes (given your state, income, expenses, tax filing status and more)
- Lists of common tax write offs by freelance work type (eg., photographer, designer, writer etc.)
- A free e-book with everything you need to know about your self-employment taxes
- Downloadable tax forms
- Answers to over 40 frequently asked questions about self-employment tax forms, due dates, & tax filing
- A tax assistant tool to automatically track expenses, maximize tax write-offs, and estimate quarterly taxes
Everything here is 100% free and public to everybody (except the tax assistant product).
Since the beginning, Bonsai has focused on the freelancer's core workflow: proposals, contracts, time tracking and tasks, invoicing, and online payments. Their goal has always been to automate the admin work freelancers hate doing or don't know how to do.
However, Bonsai's team realized that this annoying work doesn't end when the freelancer gets paid. Many freelancers struggle with managing their finances, setting and tracking financial goals, and being prepared for tax time. So they built this resource hub to make filing freelance taxes as easy as the rest of a freelancer's workflow.
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