San Jose, CA, United States, 1st Nov 2022, <\/strong>King NewsWire<\/strong><\/a>, <\/strong>New Business Structure Advisor Tool Helps Self-Employed Determine The Right Business Structure and Demystifies Tax Consequences\u00a0<\/i><\/p>\n FlyFin<\/a>,\u00a0the world\u2019s number one AI tax preparation and tax filing service, announced a new\u00a0Business Hub for self-employed people and freelancers planning to take the next step in formalizing their small businesses. FlyFin\u2019s new library provides freelancers and self-employed individuals with information about which organizational structure would be most beneficial for their business, clearly outlining the tax implications of each model. As part of the new information center, FlyFin also unveiled a new\u00a0Business Structure Advisor tool<\/a> to guide self-employed individuals in determining the ideal business structure for their particular small business.\u00a0<\/p>\n Self-employed individuals<\/a> and freelancers often need a more comprehensive understanding of the tax ramifications of the different business organization structures open to them. This information gap can often lead to confusion or mistakes when choosing the best option for their business. According to a survey by the National Association for the Self-Employed (NASE), less than half reported confidence in their understanding of the tax implications of their business structure \u2013 suggesting that there is a need for guidance.\u00a0<\/p>\n FlyFin\u2019s new information center provides detailed information about\u00a0Sole Proprietorships<\/a> (DBAs),\u00a0S Corporations<\/a>, C Corporations,\u00a0Limited Liability Companies<\/a> (LLCs), Partnerships and non-profit organizations (NPOs). It also highlights and demystifies tax forms and filing for these different business structures. Freelancers and self-employed individuals will also find all the steps required to incorporate and learn about each corporate structure\u2019s advantages and disadvantages.\u00a0<\/p>\n In 2018, the IRS issued more than $10 billion in penalties to small businesses. The most common errors were related to filing and\u00a0paying taxes late<\/a>, not paying enough taxes throughout the year, and not keeping accurate records. FlyFin\u2019s AI-powered platform helps tax filers save the maximum on their taxes.\u00a0CPAs are on standby 24\/7, so taxpayers can ask a CPA\u00a0for\u00a0advice on how to pay the least amount of tax possible.\u00a0<\/p>\n Trusted by 100k+ freelancers, FlyFin\u2019s quarterly tax calculator is the only one that considers a person\u2019s income and deductions, allowing business owners to assess how different combinations of income and tax write-offs can affect their overall taxes owed. Using FlyFin\u2019s quarterly tax calculator regularly can help self-employed individuals and 1099 workers budget for their quarterly tax payments, avoid tax penalties or interest charges and better manage their taxes.\u00a0<\/p>\n About FlyFin<\/strong> Organization<\/b>: FlyFin<\/p>\n Contact Person<\/b>: Carmen Hughes<\/p>\n Email<\/b>: carmen@ignitepr.com<\/a><\/p>\n Phone<\/b>: +1.650-576.6444<\/p>\n Website<\/b>: https:\/\/flyfin.tax\/<\/a><\/p>\n City<\/b>: San Jose<\/p>\n State<\/b>: CA<\/p>\n Country<\/b>: United States<\/p>\n The post FlyFin Announces\u00a0Business Hub for Self-Employed and Freelancers Seeking to Formalize Their Small Business<\/a> appeared first on King Newswire<\/a>. <\/p>\n Information contained on this page is provided by an independent third-party content provider. 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If you are affiliated with this page and would like it removed please contact contact@binarynewsnetwork.com<\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" San Jose, CA, United States, 1st Nov 2022, King NewsWire, New Business Structure Advisor Tool Helps Self-Employed Determine The Right Business Structure and Demystifies Tax Consequences\u00a0 FlyFin,\u00a0the world\u2019s number one AI tax preparation and tax filing service, announced a new\u00a0Business Hub for self-employed people and freelancers planning to take the next step in formalizing their […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-4155","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-news"},"_links":{"self":[{"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/posts\/4155"}],"collection":[{"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/comments?post=4155"}],"version-history":[{"count":0,"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/posts\/4155\/revisions"}],"wp:attachment":[{"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/media?parent=4155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/categories?post=4155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/berlinverdict.com\/wp-json\/wp\/v2\/tags?post=4155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![](\"https:\/\/dashboard.kingnewswire.com\/uploads\/press_release\/1667332000636177a034a9c1667332000636177a034a9d.png\")
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FlyFin<\/a> is an award-winning, AI-powered platform that provides self-employed, sub-contractors, independent contractors, gig workers, freelancers and creator economy workers with a convenient, easy-to-use and affordable tax filing solution. FlyFin helps individuals maximize self-employment tax deductions and income tax refunds. With a \u201cMan + Machine\u201d approach, FlyFin leverages AI paired with highly experienced tax CPAs to deliver automation that eliminates 95% of the work required for 1099 self-employed individuals to prepare their taxes. FlyFin is a privately-held, venture-backed company based in San Jose, California.<\/p>\nMedia Contact<\/h3>\n