San Jose, CA, United States, 22nd Dec 2022 – FlyFin, the world’s leading AI tax preparation and filing service, announced an improved 1099 Tax Calculator. The updated calculator offers freelancers and small business individuals more features and information, such as finding the total number of deduction categories applicable to their self-employment situation. Using FlyFin’s improved 1099 Tax Calculator, users can get an accurate estimation of the amount they can claim in tax deductions, enabling them to make better tax-saving decisions and save more money. With detailed information gathering, the tool can offer taxpayers deeper insights and more information.
Because freelancers, small business owners and creators are responsible for making sure their taxes are paid (rather than having them withheld from their paychecks like employees), FlyFin’s new tax calculator will help:
- Estimate their tax liability, shedding light on how much is owed in taxes based on income and deductions. Self-employed individuals can more accurately and reliably budget for tax time and avoid surprises.
- Determine estimated tax payments: The tool gives self-employed individuals answers about whether they will owe more than a certain amount in taxes and whether they need to make estimated tax payments throughout the year – and if so, how much they’ll have to pay.
- Take advantage of tax deductions and tax credits: The new tool identifies tax deductions and credits that one may be eligible for as a freelancer or small business owner, helping them lower their tax liability and potentially get a larger tax refund.
Building upon the company’s award-winning AI platform, FlyFin has assembled a comprehensive Tax Resource Center that helps freelancers and self-employed individuals prepare and file their taxes. Taxpayers can quickly find topics around self-employment, tax deductions, self-employed retirement plans and practical how-to guidance. To demystify tax preparation, FlyFin’s growing Tax Resource Center offers free tools, calculators, guides, tax forms and more.
FlyFin 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 “Man + Machine” 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.
Contact Person: Carmen Hughes
City: San Jose
Country: United States
The post FlyFin Introduces Improved 1099 Tax Calculator to help Freelancers, Creators and Small Business Owners appeared first on King Newswire.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Finance Droid journalist was involved in the writing and production of this article.