FlyFin, the #1 AI and CPA tax preparation and filing service, announced its latest efforts to simplify the 2024 tax season for self-employed individuals.
SAN JOSE, CALIFORNIA, UNITED STATES, May 14, 2024 /EINPresswire.com/ — FlyFin, the #1 AI and CPA tax preparation and filing service, announced its latest efforts to simplify the 2024 tax season for freelancers and self-employed individuals.
The 2024 federal tax brackets, standard deduction, and standard mileage rate were all adjusted for inflation. This means taxpayers may experience either an increase or a decrease in their tax liabilities compared to 2023.
Tax credits like the Earned Income Tax Credit, Adoption Tax Credit, and Child and Dependent Tax Credit also have increased limits this year. These credits can directly reduce tax liabilities or offer refunds to eligible taxpayers, making them a valuable tax break.
These changes can have a significant impact on the way freelancers manage their finances and run their businesses, and they can be difficult to navigate. FlyFin simplifies tax filing through a range of tools and resources, including:
1099 Tax Calculator: Freelancers can easily calculate their taxes based on their 1099 income using the intuitive and user-friendly independent contractor tax calculator. This tool helps find all the business deductions self-employed individuals can use to lower their 1099 taxes.
Quarterly Tax Calculator: With FlyFin’s quarterly tax calculator, freelancers can stay on top of their estimated tax payments. By accurately forecasting their tax liability for each quarter, freelancers can avoid underpayment penalties.
Ask a CPA: FlyFin’s CPA tax experts are available to provide personalized advice and tax filing services to self-employed individuals. They have the answers to questions like when quarterly taxes are due in 2024, what are the federal tax brackets for 2024, or which tax forms to use.
“FlyFin’s goal is to make tax season easier for freelancers and self-employed individuals. The latest IRS updates can be tricky to navigate when filing taxes. That’s why we offer easy-to-use tools and personalized advice from our CPAs to help freelancers tackle these changes and maximize their deductions, so they can focus on what they do best,” stated Jaideep Singh, co-founder and CEO of FlyFin.
Keeping up with tax law is an essential part of being a freelancer but it can get complex if tax jargon isn’t your forte. Using tools that can streamline the filing process can save valuable time and money for anyone running their own business.
Amber G
FlyFin AI
amber@flyfin.tax
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Source: FlyFin Empowers Freelancers to Navigate 2024 Tax Changes with Ease
