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As a sole proprietor, you need to understand your tax obligations. When your net earnings exceed $400, you’ll file Schedule C with your Form 1040 to report your business income and expenses. You may likewise have to complete Schedule SE for self-employment tax. Additional forms might be necessary based on your situation. Knowing which forms to file is essential for accurate reporting and compliance. But what specific deductions can you claim to maximize your benefits? Key Takeaways Sole proprietors report business income and expenses on Schedule C (Form 1040). If net earnings exceed $400, Schedule SE is required for self-employment tax. Form 1099-NEC is used to report nonemployee compensation over $600. Additional forms like Schedules 1 and 2 may be necessary based on the financial situation. Estimated tax payments are filed quarterly using Form 1040-ES if taxes owed exceed $1,000. Understanding Sole Proprietorships When you think about starting a business, a sole proprietorship might be the simplest option available. This structure allows you to own and operate your business without a legal distinction between yourself and the entity. As a sole proprietor, you report your business income and expenses on the Schedule C form, which you file alongside your personal income tax return on Form 1040. Your sole proprietorship tax form helps you track your schedule C income directly, making the process straightforward. The profits and losses are considered your personal income, meaning they’re taxed at your individual tax rate. If your net earnings exceed $400, you’ll likewise need to pay self-employment taxes, calculated using Schedule SE. Since sole proprietors are “disregarded entities,” it’s crucial to understand how these forms work so as to guarantee compliance and accurately report your business activities. Required Tax Forms for Sole Proprietors As a sole proprietor, you’ll need to complete several key tax forms to accurately report your business income and expenses. Schedule C (Form 1040) is crucial for detailing your profits or losses, whereas Schedule SE calculates your self-employment tax if your net earnings exceed $400. Furthermore, depending on your financial situation, you may need to include other forms like Schedules 1 and 2, along with Form 1099-NEC for any nonemployee compensation over $600. Essential Forms Overview Comprehending the fundamental forms required for sole proprietors is essential for managing your business finances effectively. You’ll primarily file Schedule C (Form 1040) to report your business income or loss, which integrates into your personal tax return. If your net earnings exceed $400, you’ll furthermore need Schedule SE to calculate self-employment tax. In addition, Form 1040 is necessary for reporting total income, and you may need Schedules 1 and 2 for specific deductions. If you receive $600 or more in nonemployee compensation, use Form 1099-NEC, whereas payments from cards should be reported on Form 1099-K. For quarterly estimated tax payments, rely on Form 1040-ES. Form Name Purpose Schedule C Report business income or loss Schedule SE Calculate self-employment tax Form 1099-NEC Report nonemployee compensation Form 1040-ES Calculate estimated tax payments Self-Employment Tax Requirements For sole proprietors, comprehension of self-employment tax requirements is crucial since this tax applies to your net earnings from self-employment. You’ll need to file Schedule C (Form 1040) to report your business income or loss, which is included in your personal tax return. If your net earnings are $400 or more, you must calculate your self-employment tax using Schedule SE, covering Social Security and Medicare contributions. Don’t forget about Form 1099-NEC; if you receive $600 or more in nonemployee compensation, it must be reported as income. Furthermore, if you expect to owe $1,000 or more in taxes for the year, you’ll need to make quarterly estimated tax payments using Form 1040-ES. You can likewise deduct half of your self-employment tax. Filing Schedule C and Other Relevant Forms When you’re a sole proprietor, filing Schedule C (Form 1040) is vital for reporting your business income and determining your tax responsibilities. You’ll additionally need to take into account other forms like Schedule SE if your income exceeds $400, along with any additional schedules that may apply based on your unique financial situation. Comprehending these requirements and deadlines is fundamental to guarantee that you accurately report your earnings and comply with tax regulations. Schedule C Overview Filing Schedule C (Form 1040) is vital for sole proprietors who need to report their business income or loss, as it provides a detailed account of profits and expenses for the tax year. You must complete Schedule C if your business income exceeds $400 after expenses. You’ll submit it alongside your federal income tax return. If your net earnings from self-employment reach $400 or more, you’ll likewise need to file Schedule SE to calculate your self-employment tax. Furthermore, you might require Schedule 1 for other income or adjustments, and Form 1040-ES for estimated tax payments. Accurate completion of Schedule C is fundamental for determining your tax liabilities and maximizing deductions for business-related expenses, reducing your taxable income overall. Additional Required Forms Completing Schedule C is just one part of your tax responsibilities as a sole proprietor; you’ll also need to be aware of several other forms that may apply to your situation. Here’s a quick overview of these forms: Form Purpose Schedule SE Calculate self-employment tax if net earnings exceed $400. Form 1099-NEC Report nonemployee compensation of $600 or more. Form 1040-ES Calculate and remit estimated tax payments quarterly. Schedule 1 Report additional income or adjustments to income. Filing Deadlines and Procedures Grasping the deadlines and procedures for filing your tax forms is crucial as a sole proprietor. You’ll need to file Schedule C (Form 1040) by April 15 to report your business income or loss, coinciding with your personal income tax return. If you expect to owe $1,000 or more in taxes, make quarterly estimated tax payments using Form 1040-ES by April 15, June 15, September 15, and January 15 of the following year. Furthermore, if you earn $400 or more from self-employment, you’ll have to file Schedule SE to calculate your self-employment tax. Remember to issue Form 1099-NEC for independent contractors paid $600 or more, and file your federal tax return by the deadline to avoid penalties. Tax Deductions for Sole Proprietorships Comprehending the various tax deductions available can greatly benefit your sole proprietorship, as these deductions help reduce your taxable income and improve your overall financial health. You can deduct ordinary and necessary business expenses, such as office supplies, advertising, and utilities, that are directly related to your operations. If you use a vehicle for business purposes, you can choose between the standard mileage rate or the actual expense method for deductions. Health insurance premiums for yourself and your family are likewise deductible as an adjustment to income on Form 1040. When starting a new business, you can deduct up to $5,000 in start-up costs in the first year, with any remaining costs amortized over 15 years. Furthermore, depreciation on business property allows you to recover asset costs over their useful life, further reducing your taxable income in the years you claim depreciation. Estimated Tax Payments for Sole Proprietors As a sole proprietor, comprehension of your obligation to make estimated tax payments can help you manage your finances effectively. If you expect to owe $1,000 or more in taxes for the year, you’re required to make these payments quarterly using Form 1040-ES. The due dates are April 15, June 15, September 15, and January 15 of the following year. To calculate your estimated tax payments, consider your expected income, deductions, and credits. Here’s a simple overview: Due Date Quarter Covered April 15 Income earned Jan – Mar June 15 Income earned Apr – May September 15 Income earned Jun – Aug January 15 Income earned Sep – Dec If your total tax owed is less than $1,000 after deductions, you won’t need to make estimated payments. Keeping track of your earnings helps you avoid underpayment penalties. Seeking Professional Tax Assistance Many sole proprietors find that seeking professional tax assistance can alleviate the intricacies of managing their tax obligations. Consulting a CPA or tax professional can be invaluable in maneuvering through complex tax forms and ensuring compliance with both federal and state tax laws. These experts help you maximize deductions by identifying all eligible business expenses and credits applicable to your situation. Moreover, engaging a tax advisor can assist you in accurately estimating quarterly tax payments, which helps avoid penalties for underpayment. They provide guidance on completing vital forms like Schedule C and Schedule SE, which are fundamental for reporting business income and calculating self-employment taxes. For new sole proprietors, professional assistance is particularly beneficial in comprehending tax obligations and avoiding common pitfalls associated with self-employment taxation. Frequently Asked Questions Do You File 1099 for Sole Proprietorship? Yes, you do file a 1099 for your sole proprietorship if you’ve paid contractors or freelancers $600 or more for their services during the year. The payer must issue Form 1099-NEC to report this income to the IRS. Furthermore, if you receive payments exceeding $600 through credit/debit cards or third-party networks, you’ll need to report that on Form 1099-K. Always keep accurate records to guarantee compliance with IRS requirements. How Do I File My Taxes as a Sole Proprietor? To file your taxes as a sole proprietor, start by gathering your income and expense records. You’ll need to complete Form 1040 and attach Schedule C, which details your business income and expenses. If your net earnings exceed $400, fill out Schedule SE for self-employment tax. Don’t forget to make quarterly estimated tax payments using Form 1040-ES if you expect to owe $1,000 or more by year-end. Check your state’s requirements too. Do Self-Employed Files Schedule C? Yes, self-employed individuals typically file Schedule C. This form allows you to report income and expenses from your business activities directly on your personal tax return. If your business income exceeds $400 after deducting expenses, you’ll need to complete this form. It helps determine your net profit or loss for the year, which is crucial for calculating your overall tax liability along with potential self-employment taxes. Does a Sole Proprietor Need to File Form 720? You typically don’t need to file Form 720 as a sole proprietor except when your business activities involve specific goods or services subject to federal excise taxes. Most sole proprietors, especially those providing services or selling non-taxable goods, are exempt. Nevertheless, it’s vital to assess your activities carefully. If you find any that trigger excise tax liabilities, then filing Form 720 becomes required to comply with federal regulations. Conclusion In summary, as a sole proprietor, you’ll primarily file Schedule C to report your business income and expenses. If your net earnings exceed $400, you’ll likewise need Schedule SE for self-employment tax calculations. Depending on your situation, additional forms like Schedules 1 and 2 may be necessary. Staying organized and comprehending your tax obligations is essential for maintaining compliance and minimizing potential issues. If needed, don’t hesitate to seek professional tax assistance to navigate the intricacies. Image via Google Gemini This article, "What Tax Form Does a Sole Proprietor File?" was first published on Small Business Trends View the full article

Now that tax season for the 2025 tax year has wrapped up, it is time to plan ahead and get your 2026 tax strategy in order, especially if you earn tips or overtime income that qualifies you for a deduction based on the latest IRS guidance released in April 2026. Which types of freelance work qualify for the overtime and tip deductions? Below is a detailed breakdown of the rules on tip and overtime income and to whom they apply. Remember, your local and state taxing authorities may not conform with the internal revenue code, so it is prudent to check with a qualified tax professional to see how these deductions interact with your full tax picture. Freelancers should pay special attention to the year ahead since the "One Big Beautiful Bill Act" tax provisions are now in effect along with renewed focus from both the IRS and the Department of Labor on two areas that affect many independent workers: overtime rules and tip reporting. Understanding these changes now will help you avoid compliance issues and stay ahead of next year's filing requirements. Start with this primer on the tax implications of tips and overtime for your freelance taxes. Freelancers Pay Attention: FSLA Overtime Rules Only Apply to W-2 Wages First, let’s talk about The Fair Labor Standards Act (FLSA) overtime premium payment rules. These rules are only applicable to W-2 wages. So, if you work part time or seasonally for an employer paying you as a W-2, they may pay overtime. If you fall into that category, the updated overtime landscape matters for your tax planning. Only One-Third of Any W-2 Overtime Pay Is Actually Exempt on Your Tax Return If you receive W-2 wages at any point during 2026, beware that the overtime deduction only applies to the overtime premium part of your overtime income. This is one of the most misunderstood parts of the new law. The "no tax on overtime," deduction does not apply to your entire overtime W-2 paycheck. It applies only to the premium portion, or the extra "half" in time-and-a-half overtime payments mandated by the federal law which, in the case of the following example, is $15 per hour. This is what it looks like in practice. Say your regular hourly rate is $30. When you work overtime, you earn $45 per hour. The deductible portion is $15, the premium above your regular rate. That $15 represents one-third of your total $45 overtime hourly pay. The other two-thirds, your base rate of $30, is still fully taxable. Another key point: if your W-2 work arrangement pays more than time-and-a-half, such as double time at $60 per hour based on the example above, the deduction is still limited to the FLSA-required premium of $15. The additional amount above time-and-a-half does not qualify. The maximum annual deduction is $12,500 for single filers and $25,000 for joint filers. The deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers). The deduction is available for both itemizing and non-itemizing taxpayers, and it is effective for tax years 2025 through 2028. Track Your Own Overtime Hours. Do Not Rely on Your Client to Do So. Proper tracking of your overtime income is critical. For the 2025 tax year, employers were not required to separately report qualified overtime compensation. The IRS issued Notice 2025-62 providing penalty relief to employers for 2025 regarding the new reporting requirements. Many employers simply did not break out overtime premium pay on W-2s because they were not required to. Beginning in 2026, employers and other payers are technically required to separately report qualified overtime compensation to all recipients. However, there is a real possibility that employers may receive another reporting waiver for 2026, similar to the relief granted for 2025. The IRS acknowledged that employers and payroll providers need time to reconfigure their systems, and 2025 was explicitly designated as a transition year. What does this mean for you? It is imperative that you track your own overtime hours on any W-2 work, or you can risk overstating or underreporting the deduction via estimation. Keep your own log of every week you work over 40 hours, your regular rate, and the premium portion of your pay. If your employer does not separately report your qualified overtime compensation, you will need your own records to calculate and claim the deduction accurately. The IRS has made it clear that you can still claim the deduction even if your client does not separately report the amount, but you need documentation to support it. What This Means for Your Freelance Tax Planning Overtime pay increases your taxable wages and affects your estimated tax payments. What you should do now to reduce your freelance tax risk: Keep any invoices and payment records that include overtime payments so you have a complete record of overtime hours and taxable wagesTrack overtime periods in your own log to verify against a clients’ documentation and to create your own tracking of income that can be deducted.Review your tax payments quarterly to make sure it reflects your full income picture.Tip Reporting Rules Have Tightened and Freelancers Are Now in Focus In addition to overtime reporting, the IRS has made tip reporting a major enforcement priority. On April 13, 2026, the IRS released final regulations (IR-2026-49) implementing the "No Tax on Tips" provision under Section 224 of the Internal Revenue Code. These final regulations do two important things: they define exactly what counts as a "qualified tip," and they publish the official list of 71 occupations that qualify for the deduction. Unlike overtime wages, freelancers are eligible for this exemption. The final regulations cover a far broader range of workers. The 71 qualifying occupations are organized into eight categories including: Beverage and Food Service (bartenders, wait staff, baristas, food delivery drivers)Entertainment and Events (DJs, event staff, performers)Hospitality and Guest Services (hotel staff, concierges, valets)Home Services (house cleaners, movers, handymen)Personal Services (floral designers, visual artists, pet groomers)Personal Appearance and Wellness (salon workers, barbers, massage therapists, personal trainers)Recreation and Instruction (tour guides, ski instructors, golf caddies)Transportation and Delivery (rideshare drivers, taxi drivers, gas pump attendants)If you are not sure whether your occupation qualifies, you can review the full list of occupations in the final regulations published in the link here or above. What Counts as a Qualified Tip Under the final regulations, a qualified tip must be: Received by a worker in one of the 71 listed occupationsVoluntary, meaning paid by a customer, not a mandatory service chargePaid in cash, check, credit card, debit card, gift card, or through an electronic payment or mobile payment appReported on a Form W-2, Form 1099-NEC, Form 1099-MISC, Form 1099-K, or separately reported by the individual on Form 4137For self-employed freelancers, this is key: you can claim the deduction even if you are not a W-2 employee, but the tips must be reported. If you receive tips through a digital platform and those tips appear on a 1099-K or 1099-NEC, they qualify. If you receive cash tips that are not reported on any form, you must report them yourself on Form 4137 for them to be deductible. The maximum annual tip deduction is $25,000. For self-employed individuals, the deduction may not exceed your net income from the trade or business in which the tips were earned. The deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers). Like the overtime deduction, it is available for tax years 2025 through 2028. Tips that do not qualify include amounts received through a tip pool (though tips paid directly to an individual still qualify), mandatory service charges, and tips received by partners that are reported on an information return issued to a partnership. Digital Platforms Are Reporting More Than Ever The IRS continues to phase in the lower 1099-K threshold, but the rule remains the same. Tip income is taxable whether or not you receive a 1099-K. This is important for freelancers who rely on digital payments. Even if a platform does not issue a form, you are still responsible for reporting all income including tips. According to the official IRS guidance, all tips are taxable. This includes cash, digital payments, and tips added to invoices. Digital platforms now report more detailed data through 1099-K forms and internal reporting systems. Cash tips must be reported even if no third party documents them. The IRS compares 1099-K totals, 1099-NEC totals, reported gross receipts, and industry standard tip percentages. When numbers do not align, freelancers may receive automated notices next tax season. If you receive tips in your freelance work you must report: Cash tipsTips paid through Venmo, PayPal, Cash App, Square, StripeTips added to invoices or booking platformsGifts that are clearly compensationUnreported tips can trigger back taxes, accuracy-related penalties, failure-to-pay penalties, and audits, so it’s critical to get your records and tax records on track now to avoid these or other tax issues next tax season. Be Proactive! Track and Monitor the Impact of Overtime and Tip Income on Your Freelance Taxes Now Freelancers often juggle multiple income streams, and the IRS's renewed focus on overtime and tip reporting adds complexity to an already challenging landscape. The good news is that both of these new deductions can put real money back in your pocket if you qualify and document properly. The key is knowing the rules: only one-third of your overtime pay qualifies for the deduction, your client may not report it for you, and your tips must be in a qualifying occupation and properly reported to be deductible. With strong record keeping, consistent monthly reconciliation, and a clear understanding of the rules, you can stay compliant and take full advantage of these new tax benefits. If you are unsure how these rules apply to your situation, reach out to a tax professional who understands the unique needs of freelancers. A little planning now can make a significant difference later and help you avoid potential issues in your freelance taxes due to the new tips and overtime reporting requirements. View the full article

Now that tax season for the 2025 tax year has wrapped up, it is time to plan ahead and get your 2026 tax strategy in order, especially if you earn tips or overtime income that qualifies you for a deduction based on the latest IRS guidance released in April 2026. Which types of freelance work qualify for the overtime and tip deductions? Below is a detailed breakdown of the rules on tip and overtime income and to whom they apply. Remember, your local and state taxing authorities may not conform with the internal revenue code, so it is prudent to check with a qualified tax professional to see how these deductions interact with your full tax picture. Freelancers should pay special attention to the year ahead since the "One Big Beautiful Bill Act" tax provisions are now in effect along with renewed focus from both the IRS and the Department of Labor on two areas that affect many independent workers: overtime rules and tip reporting. Understanding these changes now will help you avoid compliance issues and stay ahead of next year's filing requirements. Start with this primer on the tax implications of tips and overtime for your freelance taxes. Freelancers Pay Attention: FSLA Overtime Rules Only Apply to W-2 Wages First, let’s talk about The Fair Labor Standards Act (FLSA) overtime premium payment rules. These rules are only applicable to W-2 wages. So, if you work part time or seasonally for an employer paying you as a W-2, they may pay overtime. If you fall into that category, the updated overtime landscape matters for your tax planning. Only One-Third of Any W-2 Overtime Pay Is Actually Exempt on Your Tax Return If you receive W-2 wages at any point during 2026, beware that the overtime deduction only applies to the overtime premium part of your overtime income. This is one of the most misunderstood parts of the new law. The "no tax on overtime," deduction does not apply to your entire overtime W-2 paycheck. It applies only to the premium portion, or the extra "half" in time-and-a-half overtime payments mandated by the federal law which, in the case of the following example, is $15 per hour. This is what it looks like in practice. Say your regular hourly rate is $30. When you work overtime, you earn $45 per hour. The deductible portion is $15, the premium above your regular rate. That $15 represents one-third of your total $45 overtime hourly pay. The other two-thirds, your base rate of $30, is still fully taxable. Another key point: if your W-2 work arrangement pays more than time-and-a-half, such as double time at $60 per hour based on the example above, the deduction is still limited to the FLSA-required premium of $15. The additional amount above time-and-a-half does not qualify. The maximum annual deduction is $12,500 for single filers and $25,000 for joint filers. The deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers). The deduction is available for both itemizing and non-itemizing taxpayers, and it is effective for tax years 2025 through 2028. Track Your Own Overtime Hours. Do Not Rely on Your Client to Do So. Proper tracking of your overtime income is critical. For the 2025 tax year, employers were not required to separately report qualified overtime compensation. The IRS issued Notice 2025-62 providing penalty relief to employers for 2025 regarding the new reporting requirements. Many employers simply did not break out overtime premium pay on W-2s because they were not required to. Beginning in 2026, employers and other payers are technically required to separately report qualified overtime compensation to all recipients. However, there is a real possibility that employers may receive another reporting waiver for 2026, similar to the relief granted for 2025. The IRS acknowledged that employers and payroll providers need time to reconfigure their systems, and 2025 was explicitly designated as a transition year. What does this mean for you? It is imperative that you track your own overtime hours on any W-2 work, or you can risk overstating or underreporting the deduction via estimation. Keep your own log of every week you work over 40 hours, your regular rate, and the premium portion of your pay. If your employer does not separately report your qualified overtime compensation, you will need your own records to calculate and claim the deduction accurately. The IRS has made it clear that you can still claim the deduction even if your client does not separately report the amount, but you need documentation to support it. What This Means for Your Freelance Tax Planning Overtime pay increases your taxable wages and affects your estimated tax payments. What you should do now to reduce your freelance tax risk: Keep any invoices and payment records that include overtime payments so you have a complete record of overtime hours and taxable wagesTrack overtime periods in your own log to verify against a clients’ documentation and to create your own tracking of income that can be deducted.Review your tax payments quarterly to make sure it reflects your full income picture.Tip Reporting Rules Have Tightened and Freelancers Are Now in Focus In addition to overtime reporting, the IRS has made tip reporting a major enforcement priority. On April 13, 2026, the IRS released final regulations (IR-2026-49) implementing the "No Tax on Tips" provision under Section 224 of the Internal Revenue Code. These final regulations do two important things: they define exactly what counts as a "qualified tip," and they publish the official list of 71 occupations that qualify for the deduction. Unlike overtime wages, freelancers are eligible for this exemption. The final regulations cover a far broader range of workers. The 71 qualifying occupations are organized into eight categories including: Beverage and Food Service (bartenders, wait staff, baristas, food delivery drivers)Entertainment and Events (DJs, event staff, performers)Hospitality and Guest Services (hotel staff, concierges, valets)Home Services (house cleaners, movers, handymen)Personal Services (floral designers, visual artists, pet groomers)Personal Appearance and Wellness (salon workers, barbers, massage therapists, personal trainers)Recreation and Instruction (tour guides, ski instructors, golf caddies)Transportation and Delivery (rideshare drivers, taxi drivers, gas pump attendants)If you are not sure whether your occupation qualifies, you can review the full list of occupations in the final regulations published in the link here or above. What Counts as a Qualified Tip Under the final regulations, a qualified tip must be: Received by a worker in one of the 71 listed occupationsVoluntary, meaning paid by a customer, not a mandatory service chargePaid in cash, check, credit card, debit card, gift card, or through an electronic payment or mobile payment appReported on a Form W-2, Form 1099-NEC, Form 1099-MISC, Form 1099-K, or separately reported by the individual on Form 4137For self-employed freelancers, this is key: you can claim the deduction even if you are not a W-2 employee, but the tips must be reported. If you receive tips through a digital platform and those tips appear on a 1099-K or 1099-NEC, they qualify. If you receive cash tips that are not reported on any form, you must report them yourself on Form 4137 for them to be deductible. The maximum annual tip deduction is $25,000. For self-employed individuals, the deduction may not exceed your net income from the trade or business in which the tips were earned. The deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers). Like the overtime deduction, it is available for tax years 2025 through 2028. Tips that do not qualify include amounts received through a tip pool (though tips paid directly to an individual still qualify), mandatory service charges, and tips received by partners that are reported on an information return issued to a partnership. Digital Platforms Are Reporting More Than Ever The IRS continues to phase in the lower 1099-K threshold, but the rule remains the same. Tip income is taxable whether or not you receive a 1099-K. This is important for freelancers who rely on digital payments. Even if a platform does not issue a form, you are still responsible for reporting all income including tips. According to the official IRS guidance, all tips are taxable. This includes cash, digital payments, and tips added to invoices. Digital platforms now report more detailed data through 1099-K forms and internal reporting systems. Cash tips must be reported even if no third party documents them. The IRS compares 1099-K totals, 1099-NEC totals, reported gross receipts, and industry standard tip percentages. When numbers do not align, freelancers may receive automated notices next tax season. If you receive tips in your freelance work you must report: Cash tipsTips paid through Venmo, PayPal, Cash App, Square, StripeTips added to invoices or booking platformsGifts that are clearly compensationUnreported tips can trigger back taxes, accuracy-related penalties, failure-to-pay penalties, and audits, so it’s critical to get your records and tax records on track now to avoid these or other tax issues next tax season. Be Proactive! Track and Monitor the Impact of Overtime and Tip Income on Your Freelance Taxes Now Freelancers often juggle multiple income streams, and the IRS's renewed focus on overtime and tip reporting adds complexity to an already challenging landscape. The good news is that both of these new deductions can put real money back in your pocket if you qualify and document properly. The key is knowing the rules: only one-third of your overtime pay qualifies for the deduction, your client may not report it for you, and your tips must be in a qualifying occupation and properly reported to be deductible. With strong record keeping, consistent monthly reconciliation, and a clear understanding of the rules, you can stay compliant and take full advantage of these new tax benefits. If you are unsure how these rules apply to your situation, reach out to a tax professional who understands the unique needs of freelancers. A little planning now can make a significant difference later and help you avoid potential issues in your freelance taxes due to the new tips and overtime reporting requirements. View the full article

Dream Finders Homes made its intentions public in an effort to push for shareholder approval following Beazer's rejection of two prior offers. View the full article

Market watchers say that the economy as a whole is holding up under higher energy prices and do not expect a recession. Even so, observers are watching financial markets and consumer spending for signs that inflation expectations are taking hold. View the full article

Microsoft chief explains his decision to back AI lab’s boss in 2023 coup attempt during testimony in Elon Musk’s lawsuitView the full article

Prices rose 0.32% last month on a seasonally adjusted basis, equal to a 3.9% annualized rate, according to ICE Mortgage Technology's mortgage monitor report. View the full article

Ten years ago, the New York City Council passed the Freelance Isn’t Free Act, guaranteeing freelancers the right to a contract, full payment in 30 days, and protection against retaliation. Since then, the law has been passed in the cities of Los Angeles, Columbus, Minneapolis, Seattle, and statewide in New York, California, and Illinois. Yet there are still scores of freelancers who aren’t paid on time, threatening their livelihoods and making independent work too precarious for many to enter into. 75% of freelancers, roughly 150,000 people each year, experience late pay in New York City alone. That’s why New York City Council Member Chi Ossé recently introduced a bill to create the City-Run Freelancers Payment Fund. Freelancers could choose to opt into the fund by paying a small fee. Freelancers would then get paid via the fund, instead of waiting on payment from their client. The city would be responsible for being reimbursed by the hiring party, engaging them for the payment instead of the freelancer. This relieves the freelancer of having to wait on payment that might never come, or risk fraying relationships by chasing it. If the bill passes, the program would be administered by the Department of Small Business Services, and the fund’s operations handled by the Economic Development Corporation. The Department of Consumer and Worker Protection would also play a role in implementation and enforcement. For those of you in New York City, contact your local city council member and let them know that you want them to sign onto Council Member Ossé’s bill. The Freelance Isn't Free Act passed in New York City and then was quickly adopted elsewhere. A decade later, it's time to set another precedent. View the full article

Ten years ago, the New York City Council passed the Freelance Isn’t Free Act, guaranteeing freelancers the right to a contract, full payment in 30 days, and protection against retaliation. Since then, the law has been passed in the cities of Los Angeles, Columbus, Minneapolis, Seattle, and statewide in New York, California, and Illinois. Yet there are still scores of freelancers who aren’t paid on time, threatening their livelihoods and making independent work too precarious for many to enter into. 75% of freelancers, roughly 150,000 people each year, experience late pay in New York City alone. That’s why New York City Council Member Chi Ossé recently introduced a bill to create the City-Run Freelancers Payment Fund. Freelancers could choose to opt into the fund by paying a small fee. Freelancers would then get paid via the fund, instead of waiting on payment from their client. The city would be responsible for being reimbursed by the hiring party, engaging them for the payment instead of the freelancer. This relieves the freelancer of having to wait on payment that might never come, or risk fraying relationships by chasing it. If the bill passes, the program would be administered by the Department of Small Business Services, and the fund’s operations handled by the Economic Development Corporation. The Department of Consumer and Worker Protection would also play a role in implementation and enforcement. For those of you in New York City, contact your local city council member and let them know that you want them to sign onto Council Member Ossé’s bill. The Freelance Isn't Free Act passed in New York City and then was quickly adopted elsewhere. A decade later, it's time to set another precedent. View the full article

If you’re looking to improve your customer service, utilizing effective survey templates can be essential. These templates help gather meaningful feedback, allowing you to assess customer satisfaction, loyalty, and ease of interaction. For instance, the Customer Satisfaction Score (CSAT) measures overall satisfaction, whereas the Net Promoter Score (NPS) gauges customer loyalty. Each template serves a specific purpose, and comprehending how to implement them can greatly improve your service quality. Let’s explore these templates further. Key Takeaways Utilize a Customer Satisfaction Score (CSAT) survey template to measure customer satisfaction post-interaction with a simple 1 to 10 rating scale. Implement a Net Promoter Score (NPS) survey template to gauge customer loyalty and identify Promoters, Passives, and Detractors effectively. Create a Customer Effort Score (CES) survey template focusing on the ease of customer interactions and issue resolution experiences. Design a Customer Service Feedback Survey template that combines rating scales and open-ended questions for comprehensive service quality insights. Use an Open-Ended Feedback Survey template to capture qualitative insights, allowing customers to express detailed experiences and suggestions. Customer Satisfaction Score (CSAT) Survey Template When you want to gauge customer satisfaction effectively, a Customer Satisfaction Score (CSAT) survey template can be an invaluable tool. Typically, this template consists of a single question asking customers to rate their satisfaction on a 1 to 10 rating scale template. Administering the survey immediately after a customer interaction captures timely feedback, which is essential for evaluating service experiences. A high CSAT score often indicates strong customer satisfaction, cultivating loyalty and encouraging positive word-of-mouth. Many businesses use sample customer service survey templates to benchmark their CSAT scores against industry standards, helping them identify areas for enhancement. The simplicity of the CSAT survey guarantees higher response rates, yielding more actionable insights for your company. Net Promoter Score (NPS) Survey Template The Net Promoter Score (NPS) survey template serves as a crucial tool for measuring customer loyalty and satisfaction through a straightforward, single-question format. You’ll ask, “On a scale of 0 to 10, how likely are you to recommend our company to a friend or colleague?” This simple question categorizes respondents into three groups: Promoters (scores 9-10): Loyal customers who are likely to refer others. Passives (scores 7-8): Satisfied but unenthusiastic customers. Detractors (scores 0-6): Unhappy customers who may harm your brand’s reputation. To calculate your NPS, subtract the percentage of Detractors from the percentage of Promoters. Regularly measuring NPS can guide strategic improvements and bolster customer-centricity in your organization. Customer Effort Score (CES) Survey Template Measuring how easily customers can interact with your company is crucial for comprehending their experience and improving service efficiency. The Customer Effort Score (CES) focuses on how much effort customers expend to resolve issues or complete transactions. Typically, CES surveys consist of a straightforward question, like “How easy was it for you to get your issue resolved?” with responses ranging from “Very Difficult” to “Very Easy.” Implementing these surveys right after customer interactions can provide timely feedback, helping identify friction points in the customer experience. Response Option Description Very Difficult The process was challenging Somewhat Difficult The process had some hurdles Very Easy The process was smooth and quick Customer Service Feedback Survey Template When creating a Customer Service Feedback Survey Template, you’ll want to focus on key metrics like agent responsiveness and overall satisfaction. Effective question types, such as rating scales and open-ended queries, can provide both quantitative and qualitative insights into customer experiences. Analyzing these results helps you identify areas for improvement and track changes in service quality over time. Key Metrics to Measure Comprehension of key metrics in customer service feedback surveys is vital for evaluating and enhancing the overall customer experience. By measuring these metrics, you can gain valuable insights into your service performance. Here are four important metrics to take into account: Customer Satisfaction Score (CSAT): This score reflects how satisfied customers feel about your service, typically rated on a scale of 1 to 5 or 1 to 10. Net Promoter Score (NPS): NPS gauges customer loyalty by asking how likely customers are to recommend your service. Customer Effort Score (CES): CES assesses how easy it’s for customers to resolve their issues. First Contact Resolution (FCR): This metric measures the percentage of inquiries resolved in the first interaction, highlighting service efficiency. Effective Question Types How can you guarantee that your customer service feedback survey effectively captures the insights you need? Start by utilizing a mix of question types, such as Likert scales, multiple choice, and open-ended questions. For example, use a scale from 1 to 10 to measure satisfaction levels, helping you identify trends in customer perceptions. Incorporate demographic questions to segment responses, allowing you to understand diverse customer needs better. Follow-up questions can assess customer sentiment after support interactions, providing insights into areas needing improvement. Finally, design questions that focus on specific aspects of customer service, like responsiveness and problem resolution, to pinpoint strengths and weaknesses in agent performance. This all-encompassing approach guarantees you gather valuable feedback for enhancing service delivery. Analyzing Survey Results Analyzing survey results is crucial for comprehending customer sentiments and identifying areas for improvement in your service delivery. By systematically reviewing responses, you can uncover trends that inform your strategies. Consider the following steps: Utilize quantitative data: Examine satisfaction ratings and response scales to gauge overall customer sentiment. Analyze qualitative feedback: Review open-ended responses for insights into specific customer experiences and pain points. Regularly share findings: Distribute survey results with relevant teams to encourage collaboration and align improvements with customer feedback. Implement changes: Act on the insights gained to improve customer satisfaction, demonstrating that you value their input and are committed to service excellence. Product/Service Evaluation Survey Template When evaluating a product or service, using a well-structured survey template can greatly improve the quality of feedback you receive. This template typically includes questions measuring customer satisfaction levels, usability, and overall experience. Incorporating both quantitative and qualitative questions allows you to gather measurable data alongside open-ended feedback, offering deeper insights. Key components may involve rating scales to evaluate features like quality, performance, and value for money, which helps identify areas for improvement. Moreover, including demographic questions can assist in segmenting responses, giving you a clearer comprehension of different customer perspectives. A streamlined structure with clear instructions will boost respondent engagement and improve completion rates, eventually leading to more effective feedback collection. Business-to-Business (B2B) Customer Satisfaction Survey Template When creating a Business-to-Business (B2B) Customer Satisfaction Survey, it’s essential to include customized questions that focus on the specific needs of your clients. By measuring aspects like service quality, communication, and responsiveness, you can better understand the professional relationships you maintain. This focused approach not just yields more relevant feedback but likewise helps you identify areas for improvement in your service delivery. Tailored Questions for Businesses Customized questions in a Business-to-Business (B2B) customer satisfaction survey template play a crucial role in gathering relevant feedback that directly addresses your business needs. By personalizing your survey, you can focus on key areas that impact your operations. Consider including questions that: Assess professionalism and communication effectiveness with your team. Evaluate the timeliness of service delivery and project completion. Rate overall service quality on a scale from 1 to 10. Provide open-ended opportunities for clients to share specific experiences or suggestions. These personalized questions yield measurable insights as well as allow you to identify strengths and areas for improvement, ensuring the feedback you collect is actionable and relevant to your unique context. Measuring Professional Relationships Measuring professional relationships in a Business-to-Business (B2B) context requires a focused approach, especially when utilizing a customer satisfaction survey template. This template is designed to evaluate satisfaction levels concerning service quality, timeliness, and professionalism customized to business clients. Key questions often address service responsiveness, resolution effectiveness, and the representatives’ industry knowledge. By using a B2B survey, you can identify specific client needs and expectations, allowing for more effective service personalization. The survey typically combines quantitative ratings with qualitative open-ended questions to gather thorough feedback. Analyzing these results reveals trends in client relationships, helping you improve your service strategies and enhance client retention rates. In the end, this structured feedback can drive meaningful improvements in your business operations. Open-Ended Feedback Survey Template An open-ended feedback survey template is a crucial tool for gathering in-depth insights from customers about their experiences and opinions. This approach allows customers to express their thoughts in their own words, providing qualitative insights that closed-ended questions might miss. Here are key elements to take into account: Encourage Detailed Responses: Ask questions that prompt customers to elaborate on their experiences. Reveal Improvement Areas: Use feedback to identify specific weaknesses in your service. Gather Unique Suggestions: Allow customers to share ideas that may not fit predetermined options. Limit Questions: Keep open-ended questions concise to avoid respondent fatigue as you still collect valuable insights. Frequently Asked Questions What Are Good Survey Questions for Customer Service? Good survey questions for customer service focus on clarity and actionable insights. Use quantitative scales for satisfaction, like “On a scale of 1-5, how satisfied are you with our service?” Incorporate open-ended questions such as “What can we improve?” to gather specific feedback. Furthermore, include demographic questions for better analysis and consider asking about the Customer Effort Score with “How easy was it to resolve your issue?” to assess the customer experience effectively. What Are 5 Good Survey Questions Examples? To improve your customer service, consider using these five survey questions: First, ask, “How satisfied are you with our customer service?” This gauges overall satisfaction. Next, “How likely are you to recommend us?” measures loyalty. Include, “What specific issues did you encounter?” to gather insights. For quantifiable data, use, “On a scale of 1 to 5, how would you rate our professionalism?” Finally, ask, “What improvements would you suggest?” to encourage feedback. Does Microsoft Word Have a Survey Template? Yes, Microsoft Word does have survey templates. You can easily find these templates in the template gallery by searching for “survey.” They cover various purposes, such as customer satisfaction and feedback collection. The templates come with pre-formatted questions and answer formats, which save you time. Furthermore, you can customize these templates to fit your needs and incorporate tables or charts for visual representation of your survey results after collecting data. What Is a 1 to 10 Survey Question Example? A 1 to 10 survey question example could be, “On a scale of 1 to 10, how satisfied are you with our product quality?” This question allows you to rate your satisfaction, with 1 being very dissatisfied and 10 being extremely satisfied. Using this scale helps you provide nuanced feedback, which enables the business to identify trends in satisfaction over time and make informed decisions based on customer perceptions. Conclusion By utilizing these seven effective customer service survey templates, you can greatly improve your feedback collection process. Each template, including CSAT, NPS, and CES, serves a distinct purpose, helping you gauge customer satisfaction, loyalty, and ease of interaction. Moreover, open-ended feedback and product evaluation surveys offer valuable qualitative insights. Implementing these tools will enable you to better understand your customers’ experiences and preferences, ultimately enhancing your service quality and nurturing stronger customer relationships. Image via Google Gemini This article, "7 Effective Sample Customer Service Survey Templates You Can Use Today" was first published on Small Business Trends View the full article

When considering the tax benefits of a sole proprietorship versus an LLC, it’s important to understand the differences in their structures and implications. Sole proprietorships are simple, allowing you to report business income directly on your personal tax return, which minimizes compliance efforts. Conversely, LLCs offer limited liability protection and potential tax advantages, like S Corporation election. Each option has unique deductions and tax strategies that can impact your bottom line considerably. Let’s explore these benefits further. Key Takeaways Sole proprietors report business income on Schedule C, simplifying tax filing without a separate business return compared to LLCs. LLCs can elect S Corporation status, allowing for reduced self-employment tax through salary and profit distributions. Both structures benefit from pass-through taxation, but LLCs may have more tax planning flexibility with various classification options. Sole proprietors can claim home office deductions using simplified methods, while LLCs can deduct similar expenses on business tax returns. LLCs provide limited liability protection, safeguarding personal assets from business debts, unlike sole proprietorships which expose personal finances to risks. Understanding Sole Proprietorship and LLC Tax Structures When considering how to structure your business, have you thought about the tax implications of a sole proprietorship versus a limited liability company (LLC)? As a sole proprietor, you report your business income on Schedule C of IRS Form 1040, which means profits are taxed at your individual income tax rate. This method doesn’t require a separate business tax return, simplifying your tax process. Conversely, single-member LLCs also report on Schedule C but can elect S Corporation status for potential tax savings. Although both structures face self-employment taxes around 15.3%, an LLC may reduce this burden by paying you a reasonable salary and taking further profits as distributions. In addition, LLCs may access more deductions, especially as an S Corp, enhancing your tax planning flexibility. Ultimately, comprehending the tax benefits of sole proprietorship vs LLC is vital for making an informed choice. Pass-Through Taxation Explained Pass-through taxation is a tax structure where business income flows directly to your personal tax return, allowing you to report earnings without facing corporate taxes. For sole proprietors, this means using Schedule C to detail profits, whereas single-member LLCs similarly follow a process but have the option to elect S Corporation status for potential tax benefits. Comprehending how self-employment taxes apply to your income and the reporting process is essential for optimizing your tax obligations as your business grows. Definition of Pass-Through Taxation Grasping pass-through taxation is crucial for small business owners, as it directly impacts how profits are taxed. Under this system, a business’s profits aren’t taxed at the corporate level; instead, they pass through to your personal tax return, where they’re taxed as personal income. Sole proprietorships and single-member LLCs typically enjoy this benefit, allowing you to report business income on Schedule C of Form 1040 without a separate tax return. In 2023, self-employment tax for these entities is about 15.3% on net earnings. Furthermore, LLCs can opt to be taxed as S Corporations, potentially saving on taxes by enabling owners to take some profits as distributions, which may not be subject to self-employment tax. Tax Reporting Process Comprehending how to report income is crucial for both sole proprietorships and single-member LLCs under the pass-through taxation system. You’ll report your business income on your personal tax return using Schedule C of IRS Form 1040, avoiding double taxation. Whereas both structures face self-employment tax on net income, LLCs can elect S Corporation status, potentially reducing their self-employment tax liabilities. Furthermore, both allow for deducting business expenses, which helps lower taxable income. Below is a comparison of tax reporting aspects for both structures: Feature Sole Proprietorship Single-Member LLC Tax Reporting Form Schedule C Schedule C Self-Employment Tax Yes Yes (S Corp option available) Audit Risk Higher Lower with proper compliance Self-Employment Tax Implications How do self-employment tax implications affect your choice between a sole proprietorship and a single-member LLC? As a sole proprietor, you’ll pay self-employment tax on your entire net income, which is about 15.3% for 2023-2024. Conversely, a single-member LLC additionally incurs this tax, but if you choose to be taxed as an S Corporation, you could save on self-employment taxes. This structure allows you to pay yourself a reasonable salary during the process of taking extra profits as distributions, which aren’t subject to self-employment tax. Both entities benefit from pass-through taxation, simplifying your tax return. Nevertheless, LLCs may present a lower audit risk because of their formal structure, adding another factor to reflect upon in your decision. Self-Employment Tax Considerations When you operate as a sole proprietor or a single-member LLC, comprehension of self-employment tax considerations is crucial for managing your tax liabilities effectively. Both structures require you to pay self-employment tax, which stands at 15.3% of your net earnings. Here’s a quick comparison: Aspect Sole Proprietorship Single-Member LLC Self-Employment Tax Rate 15.3% 15.3% Tax Classification Directly reports income Disregarded entity for tax purposes Income Reporting Flexibility Limited to net income More flexibility in structuring income S Corporation Election Not applicable Potential for reduced liability As a sole proprietor, you must include your entire net income when calculating self-employment tax. Conversely, LLCs may provide avenues to minimize tax exposure, especially if you elect S Corporation status, allowing for salary and distributions. Deductions and Write-Offs Available In terms of deductions and write-offs, both sole proprietorships and LLCs can benefit from claiming ordinary business expenses. You can deduct costs like supplies, travel, and even home office expenses, which can greatly lower your taxable income. Nevertheless, the structure you choose may influence your options, especially regarding additional deductions available to LLCs, particularly if you elect S Corporation status. Business Expense Deductions Comprehending the business expense deductions available to you as a sole proprietor or single-member LLC is crucial for effectively managing your taxable income. Both structures allow you to deduct ordinary and necessary expenses, such as office supplies, travel costs, and marketing expenses. Sole proprietors report these deductions on Schedule C of their personal tax return, whereas LLCs typically do the same unless they opt for corporate taxation. Single-member LLCs may enjoy further flexibility, especially if taxed as an S Corporation, enabling salary payments to owners as deductible expenses. Moreover, LLCs often have clearer guidelines on separating personal and business expenses, which can lead to better documentation and potentially lower audit risks compared to sole proprietors. Home Office Write-Offs Managing your home office expenses effectively can greatly impact your tax situation. As a sole proprietor, you can deduct home office expenses using the simplified method, which allows up to $1,500 based on $5 per square foot for up to 300 square feet. On the other hand, the regular method requires you to calculate actual expenses like mortgage interest, utilities, and repairs. If you’re an LLC, you can likewise claim similar deductions, but they must appear on your business tax return instead of your personal return. To qualify, your home office must be used exclusively and regularly for business. Sole proprietors benefit by directly reducing personal taxable income, whereas single-member LLCs may improve credibility, potentially lowering audit risk. Liability Protection and Its Tax Implications Comprehending the differences in liability protection between a sole proprietorship and an LLC is crucial for any business owner. In a sole proprietorship, you’re personally liable for all business debts, exposing your personal assets to risks in case of legal issues or bankruptcy. Conversely, an LLC provides limited liability protection, keeping your personal finances safer from creditors if your business fails. Here are three key points to reflect upon: Personal Asset Protection: LLCs protect your personal assets, whereas sole proprietors risk losing them. Tax Implications: LLCs can elect S Corporation taxation, potentially lowering self-employment tax, unlike sole proprietors who pay full self-employment tax. Credibility: An LLC’s structure improves your credibility with lenders and investors, boosting financing opportunities. Choosing the right structure can greatly impact your financial security and tax obligations. Audit Risks Associated With Each Structure When evaluating the audit risks associated with sole proprietorships and LLCs, it’s important to recognize that the structure of your business can markedly affect your likelihood of facing scrutiny from the IRS. Sole proprietorships typically face a higher audit risk because of their simpler framework, which often leads to less formal recordkeeping. This lack of documentation can raise red flags for the IRS, prompting more frequent audits. Furthermore, the self-employment tax that applies to sole proprietors can attract further scrutiny, as the IRS closely monitors self-reported income. Conversely, LLCs, particularly those with good documentation and compliance, are perceived as more legitimate business entities, potentially lowering their audit risk. The more complex financial structure of an LLC, including options like electing S Corporation status, may likewise provide layers of protection that reduce audit probabilities compared to sole proprietorships, making it a safer choice regarding IRS scrutiny. Tax Flexibility Options for LLCs Though sole proprietorships offer limited tax options, LLCs provide a range of tax flexibility that can greatly benefit business owners. With various tax treatments available, you can choose the structure that best suits your business needs. Here are three key tax flexibility options for LLCs: Tax Classification Choices: LLCs can elect to be taxed as a sole proprietorship, partnership, C Corporation, or S Corporation, allowing you to select the most advantageous tax structure based on your income and goals. Self-Employment Tax Reduction: By opting for S Corporation status, you can reduce self-employment taxes since only salaries paid to members are subject to these taxes, whereas remaining profits can be distributed as dividends. Retained Earnings: Unlike sole proprietorships, LLCs can retain earnings within the business, enabling reinvestment in growth opportunities without immediate tax implications. These options provide valuable tools for effective tax planning. Impact of Personal Income Tax on Sole Proprietorships When you operate as a sole proprietor, your business income is reported on your personal tax return, which means it gets taxed at individual rates. You’ll additionally face self-employment tax, which stands at 15.3% of your net earnings, covering your Social Security and Medicare contributions. Although you can deduct business losses from your personal income, giving you some relief, your lack of corporate tax treatment limits your options for tax planning and could increase your audit risk. Pass-Through Taxation Benefits Comprehending the impact of pass-through taxation is crucial for anyone considering a sole proprietorship. This taxation structure means that your business income is reported directly on your personal tax return, eliminating double taxation. Here are three key benefits you should know: Simplified Filing: You report income and expenses on Schedule C of Form 1040, combining personal and business income in one return. Direct Expense Deductions: You can deduct business expenses directly from your gross income, lowering your taxable income. Social Security and Medicare Contributions: You pay self-employment tax at a rate of 15.3% on net earnings, ensuring you contribute to these crucial programs. These benefits make sole proprietorships an attractive option for many entrepreneurs. Self-Employment Tax Considerations Self-employment tax plays a crucial role in the financial environment of sole proprietorships, impacting your overall tax liability. As a sole proprietor, you report your business income and expenses on Schedule C of your personal tax return (Form 1040), which simplifies integration with your personal income. Nevertheless, the entire income generated is subject to a 15.3% self-employment tax, greatly affecting your tax bill. Unlike LLCs, you can’t elect corporate tax status, meaning your income is taxed at your individual rates. Here’s a quick comparison of the tax implications: Aspect Sole Proprietorship LLC Tax Reporting Schedule C Form 1065 or 1120S Self-Employment Tax 15.3% Potential S Corp election Personal Liability Yes Limited liability Tax Planning Flexibility Limited More options Corporate Tax Status Option No Yes Business Expense Reporting Differences Grasping the differences in business expense reporting between a sole proprietorship and an LLC is essential for effective tax management. Sole proprietors report income and expenses using Schedule C on their personal tax returns. Conversely, single-member LLCs similarly use Schedule C but can elect corporate tax treatment, influencing their reporting methods. Here are three key differences to take into account: Tax Filings: Sole proprietorships don’t require separate business tax filings, simplifying your reporting process. LLCs may need additional documentation, particularly with multiple members. Deduction Flexibility: LLCs can enjoy more flexibility in deducting employee benefits and retirement plans, which mightn’t be as accessible for sole proprietors. Self-Employment Tax: Whereas sole proprietors face self-employment tax on their entire net income, LLC owners can reduce this liability by taking a reasonable salary and distributing remaining profits as dividends. Long-Term Tax Planning Strategies for Business Owners In regards to long-term tax planning, comprehending the options available to you as a business owner can greatly impact your financial success. As a sole proprietor, you report business income on Schedule C, making tax filing straightforward. Nevertheless, if you establish an LLC, you gain flexibility, as you can elect to be taxed as a C corporation or an S corporation. This choice may allow you to reduce your self-employment tax burden, which applies to both structures at a rate of 15.3%. Furthermore, LLCs often have access to more deductions, especially when taxed as an S corporation. Although sole proprietorships face higher audit rates, forming an LLC can boost your credibility and attract investors, providing opportunities for funding. Frequently Asked Questions Is LLC or Sole Proprietor Better for Taxes? When deciding between an LLC and a sole proprietorship for taxes, consider your income and future goals. An LLC offers more flexibility in tax classification, potentially allowing you to reduce self-employment taxes by designating some income as distributions. Sole proprietors face higher self-employment taxes on their entire income. Furthermore, LLCs may provide a lower audit risk because of perceived credibility, making them a more favorable option for some business owners. What Is One Disadvantage of an LLC Compared to a Sole Proprietorship? One disadvantage of an LLC compared to a sole proprietorship is the added compliance costs. LLCs incur state formation fees and ongoing expenses, like franchise taxes, which can vary by state. Furthermore, LLCs require more administrative tasks, such as maintaining a registered agent and filing annual reports. Conversely, sole proprietorships involve minimal paperwork and can be established instantly without formal registration, offering greater flexibility and lower ongoing obligations. Do Sole Proprietors Get Tax Benefits? Yes, sole proprietors do get tax benefits. You report your business income directly on your personal tax return using Schedule C, which simplifies the process. You enjoy pass-through taxation, meaning your profits are taxed only once at your individual rate, avoiding double taxation. You can additionally deduct crucial business expenses, like home office costs. Nonetheless, keep in mind that you’re subject to self-employment tax, covering Social Security and Medicare contributions. What Is the Most Tax Efficient Way to Pay Yourself in an LLC? To pay yourself in an LLC tax-efficiently, consider electing S Corporation taxation. This allows you to draw a reasonable salary, which is subject to self-employment tax, whereas additionally taking additional income as distributions not subject to these taxes. This strategy can minimize your overall tax burden, especially at higher income levels. Just make certain your salary is reasonable according to IRS guidelines to avoid audit issues and potential penalties. Conclusion In conclusion, both sole proprietorships and LLCs offer unique tax benefits that cater to different business needs. Sole proprietorships simplify tax reporting and provide direct access to deductions, while LLCs offer liability protection and potential self-employment tax savings. Comprehending these differences allows you to make informed decisions about your business structure. In the end, choosing the right option depends on your specific goals, financial situation, and long-term plans, so consider consulting a tax professional for customized advice. Image via Google Gemini and ArtSmart This article, "10 Key Tax Benefits of Sole Proprietorship Vs LLC" was first published on Small Business Trends View the full article

Republican Senator Josh Hawley to introduce legislation after Donald The President backs moveView the full article

British pop star Dua Lipa is suing Samsung Electronics for at least $15 million in damages alleging the South Korean electronics company illegally used a copyrighted image of her without permission. The legal complaint filed Friday in the United States District Court for the Central District of California alleges Samsung used an image of Lipa for some of its television cardboard boxes in circulation last year. According to the lawsuit, Lipa accuses Samsung of violating her “right of publicity” as well as infringing on her copyright and trademark rights. The image in question is allegedly taken from a performance at the Austin City Limits music festival in 2024. According to the lawsuit, Lipa and her team repeatedly asked Samsung to stop using the image for Samsung’s packaging after becoming aware of it in June 2025. In response, Samsung was “dismissive and callous,” repeatedly refusing the demand. “Ms. Lipa’s face was prominently used for a mass marketing campaign for a consumer product without her knowledge, without consideration, and as to which she had no say, control, or input whatsoever,” the lawsuit states. The lawsuit also states that Lipa would not have allowed the partnership in the first place as she is “highly selective” of her endorsements, which include Apple, Porsche, Versace, Bulgari and Nespresso. Beyond the copyright issue, the lawsuit also addresses the mixed signals sent by the packaging, which might influence consumer spending in favor of the brand and its ties to a celebrity. For instance, Lipa’s lawyers also shared screenshots of users online sharing how her image influenced their purchase. “I’d get that tv just because Dua is on it. That’s how obsessed I am,” said another,” one social media post cited in the lawsuit says. Since the lawsuit has become public, more users have taken to social media to share similar thoughts. “Dua Lipa deserves compensation,” one user said on X, “The only reason I bought my Samsung TV back in 2019 was this woman’s face. It was nothing to do with the tv quality or the price or the features.” View the full article

Amazon has taken a significant step to assist small businesses by launching the Amazon Supply Chain Services (ASCS), a comprehensive suite of logistics solutions designed to help companies of all sizes streamline operations. This move opens the door for retail, wholesale, and commercial businesses to tap into the same powerful logistics network that has fueled Amazon’s explosive growth for years. At the heart of ASCS is a promise of speed, reliability, and efficiency. By providing access to advanced supply chain capabilities—developed and honed through Amazon’s extensive experience—small business owners can now move, store, and deliver goods more effectively than ever before. According to Peter Larsen, vice president of Amazon Supply Chain Services, “Amazon is bringing the infrastructure, intelligence, and scale of its supply chain services—proven over decades—to businesses everywhere.” This initiative aims to democratize logistics, allowing small businesses to leverage the same tools that major brands like Procter & Gamble and 3M are already utilizing. Why should small business owners be interested? The benefits offered by ASCS are substantial. For starters, the service encompasses freight, distribution, fulfillment, and parcel shipping—all under one umbrella, saving businesses the hassle of coordinating with multiple service providers. This integrated approach simplifies logistics management and promotes greater operational agility. ASCS offers several key offerings: Freight Services: Companies can access Amazon’s extensive transportation network, which includes over 80,000 trailers and more than 100 aircraft. This capabilities enable businesses to move goods efficiently, with options for time-sensitive shipments and end-to-end visibility. Distribution and Fulfillment: Businesses can import, store, and fulfill orders through a unified inventory system, allowing for improved accuracy and speed in delivery, whether orders are made through an online store or a physical location. Parcel Shipping: ASCS offers flexible shipping options, ensuring predictability in delivery times—typically within two to five days—backed by the same robust logistics network that delivers billions of packages for Amazon each year. Small business owners can easily access these services via a centralized console, making the onboarding process seamless and straightforward. For businesses eager to enhance their supply chain capabilities, ASCS provides a scalable solution that grows with their needs. Despite the exciting benefits, small business owners should remain vigilant about some potential challenges associated with this rollout. Reliance on a single provider for such comprehensive logistics can raise concerns about the potential for service disruptions. Additionally, while ASCS promises to be competitive in pricing, small businesses should thoroughly analyze their logistics costs before fully committing to ensure it aligns with their budgetary needs. Furthermore, small businesses might find it beneficial to invest time in learning the intricacies of Amazon’s supply chain tools to maximize the platform’s potential fully. Despite the inherent complexity, the insights gained from optimizing inventory settings and utilizing AI forecasting models can provide a competitive edge in today’s market. In essence, Amazon Supply Chain Services represents a game-changer for small business logistics. With the opportunity to harness a world-class logistics network, streamline operations, reduce delivery times, and enhance overall efficiency, small business operators have a potent new asset at their disposal. However, it is crucial for these businesses to navigate the terrain thoughtfully to capitalize on these offerings effectively. For more information on Amazon’s Supply Chain Services, visit the original press release here. Image via Google Gemini This article, "Amazon Empowers Businesses with New Supply Chain Services Launch" was first published on Small Business Trends View the full article

Google is set to automatically link Google Ads accounts with associated YouTube channels — according to communications sent to multiple advertisers — tightening the connection between video engagement and ad performance. What’s happening. Advertisers have received notices that, from June 10, 2026, Google Ads accounts that aren’t already linked to a YouTube channel will be automatically connected. The update removes the need for manual linking and ensures advertisers can access video engagement data and targeting features by default. Why we care. Linking a YouTube channel unlocks deeper insights and more advanced targeting options — something many advertisers either overlook or delay setting up. By automating the process, Google is effectively making video data a standard part of campaign optimisation. Zoom in. Once linked, advertisers can access organic video metrics, including view counts, directly within Google Ads. They can also build audience segments based on how users interact with their YouTube content — from video views to channel engagement. What else. The integration allows advertisers to track “earned actions,” such as subscriptions or additional views driven by ads, and use those engagements as conversion signals. That creates a clearer picture of how video campaigns influence user behaviour beyond just clicks. What to watch. How advertisers adapt their measurement strategies once organic and paid video data are combined, and whether this leads to broader use of engagement-based conversion tracking in campaigns. Bottom line. Google is making YouTube data harder to ignore — turning automatic linking into a default step for better targeting, measurement and performance. First spotted. Several advertiser reported getting the comms from Google, including Founder of JXT Group, Menachem Ani, founder of PPC News Feed Hana Kobzová, and PPC Specialist Arpan Banerjee. View the full article

MOST leaders reach a point where they can see exactly where their company needs to go. The vision is clear — more sophisticated, more scalable, more aligned with the leader they’ve become. They didn’t get to this point by accident. The clarity they have now is the product of a commitment to transformation expressed through years of building, learning, and evolving. But the company is still organized around an earlier version of their leadership. The revenue is real. The clients are happy. On paper, it works. But the routines, the roles, the decision-making patterns were designed for a different stage. Maybe a different strategy entirely. As the founder, every day pulls you back into the same patterns: the firefighting, the decisions only you can make, the sense that if you stop moving, everything stops. This is the tension between where you’re going and what got you here, and it’s one of the most common inflection points in a founder’s journey. At this stage, part of your responsibility as a leader is to transform the company along with you. New Goals Demand New Thinking A founder I worked with ran a specialized professional services firm. Over a few years, he had made an important leap from transactional operator to strategic advisor. He built a new framework, renamed his practice, and reimagined his value proposition to create a market segment he could own — higher-trust, higher-fee, more durable client relationships. He knew where he was going. But the company was still organized around what had gotten him here. The team’s routines were built for the old model: high volume, fast turnaround, lots of reactive work. The systems rewarded output, not depth. His top producer embodied the old approach perfectly, earning seven figures doing it the traditional way. There was no reason for that person to change. Because they were successful, challenging the model felt like challenging results. The founder said it plainly: I can see it. My challenge has been to get there. He wasn’t confused about the destination. He was caught in the tension between the leader he had become and the organization that was still designed to produce something else. This is the principle most founders eventually collide with: personal transformation enables organizational transformation, but it doesn’t happen automatically. You have to redesign the organization to match the leader you’re becoming. Creating that alignment is the hardest part of leadership. But there is a way through it, and it starts with seeing clearly. Stepping Back to Move Ahead Rose, a co-founder I worked with, ran a predictive-maintenance startup. In a single hour-long meeting about one of her strategic priorities, she got interrupted eight times; every decision, every customer question, every call was routed through her. She was the bottleneck and she knew it. The conventional answer would have been to delegate more. However, delegation wasn't the issue. As we worked together, Rose started to recognize that she was actively choosing urgency. Once she could see what urgency gave her (a feeling of being essential and in control) and what made strategic focus so easy to avoid (it felt boring and lacked immediate payoffs), she recognized that her own choices were keeping her stuck as the bottleneck. Her dedication to urgency had built a system where her team had no way to make decisions without her, not because they lacked capability, but because she had never designed the conditions for them to use it. As she changed her relationship to urgency, her team’s relationship to it started to shift as well. Instead of answering questions, she started designing what her team needed to move ahead on their own: clear context, clear constraints, clear freedoms. The company didn't change because she hired new people. It changed because she became a different kind of leader — a designer instead of a doer. And once she made that shift, she could actually spend her time on strategy instead of being drowned in the urgent. That shift didn't just free up her calendar, it changed what the company was capable of without her in the room. This kind of transformation starts with three moves: See the tensions you’ve been avoiding: Where loyalty to what built this company conflicts with what the company needs next. Where your habits serve comfort instead of progress. Where good enough has become the ceiling. These aren’t problems to solve. They’re tensions to navigate. Own your contribution to the pattern: Acknowledge that you designed this system and it’s doing exactly what it was built to do. The meeting cadence, the decision flow, the hiring bar, the standards you enforce and the ones you work around are living expressions of your leadership. The company is a mirror. Shift from doer to designer: Stop solving problems and start redesigning the processes, roles, and culture of accountability that align better with the future you've envisioned, not the past you’re coming from. Finally, curtail your instinct to intervene so your team learns to trust themselves and stops gravitating toward old habits. The next phase of growth is a different kind of growth. Not more effort, not better systems, not another hire who’ll finally take things off your plate. It’s the work of closing the gap between where you’re going and what got you here so that growth stops being a grind and starts feeling like momentum. * * * Chris Clearfield is a leadership strategist and author of The High-Altitude Entrepreneur: A Framework for Scaling Smarter, Leading Better, and Living Freer. Learn more at highaltitudebook.com * * * Follow us on Instagram and X for additional leadership and personal development ideas. * * * View the full article

Cloud-based video editing is revolutionizing how you approach projects by offering several distinct advantages. You can edit from any device, ensuring accessibility and convenience. Real-time collaboration allows for seamless teamwork, whereas cost-effective solutions minimize your expenses. Improved security measures safeguard your content, and better workflow efficiency organizes your editing process. Comprehending these benefits could transform your editing experience, but there’s more to explore about how they can particularly impact your projects. Key Takeaways Accessibility: Edit projects from any device with an internet connection, allowing for on-the-go convenience without software downloads. Collaboration: Real-time editing enables multiple users to work together, enhancing communication and reducing project turnaround times. Cost-Effectiveness: Subscription models and cloud storage minimize upfront costs and operational expenses, making professional editing more affordable. Security: Advanced encryption and multi-factor authentication protect your files from unauthorized access and data breaches. Workflow Efficiency: Centralized access and automatic saving streamline project management, ensuring the latest files are always available. Accessibility and Convenience When you choose cloud-based video editing, you gain the ability to access your projects from any device with an internet connection, which greatly improves your editing flexibility. This means you can edit on-the-go, whether you’re at home, in a café, or traveling. There’s no need for software downloads or installations; you can simply open a web browser and start editing, saving you time and effort. Furthermore, cloud storage boosts project safety, protecting your files from local mishaps and ensuring easy retrieval from any location. In addition, cloud video editing eliminates the need for high-end hardware, making professional editing accessible for freelancers and small businesses without the financial burden of costly equipment. Overall, it streamlines your editing process considerably. Collaborative Editing Features Cloud-based video editing platforms transform teamwork by offering collaborative editing features that boost productivity. With real-time collaboration, multiple users can work on the same project simultaneously, improving efficiency and creativity. Automatic saving and version control track all edits, preventing data loss and allowing you to revert to previous versions easily. Many cloud-based video editing tools integrate seamlessly with other cloud services, making it simple to share and discuss projects with team members no matter where they’re located. Centralized project access streamlines workflows, helping you organize tasks and manage contributions effectively. Improved communication tools within these platforms promote immediate feedback and discussions, which can greatly reduce project turnaround times, making teamwork smoother and more effective. Cost-Effectiveness As traditional video editing often requires hefty upfront investments in software licenses and high-end hardware, cloud-based video editing platforms offer a more cost-effective alternative. With subscription models, you notably reduce initial expenses, opting for a pay-as-you-go structure that adjusts to your project needs. This flexibility allows you to avoid unexpected costs, making budget management easier. Additionally, cloud solutions eliminate the need for expensive IT management and maintenance, potentially reducing operational costs by up to 80%. You can access advanced tools, including video sound editor features, without investing in high-end hardware. Plus, cloud storage helps you manage large media files efficiently, saving money on infrastructure and physical storage solutions, making professional video production more accessible. Enhanced Security With the financial concerns addressed by cloud-based video editing, attention turns to another significant advantage: improved security. Cloud-based platforms utilize advanced measures to protect your video files from unauthorized access and data breaches. Here’s what you can expect: Bank-grade encryption safeguards your valuable content. Multi-factor authentication guarantees only authorized users can access sensitive files. Regular automatic backups prevent data loss from corruption or theft. Compliance with industry standards provides peace of mind when handling sensitive materials. These features not only improve security but additionally help you focus on your projects without worrying about potential threats. With continuous updates to security protocols, cloud services maintain robust protection for your stored video assets, assuring user confidentiality throughout the editing process. Improved Workflow Efficiency In relation to video editing, improved workflow efficiency is a transformative factor for teams looking to optimize their production processes. Cloud-based platforms centralize project access, allowing you and your team to collaborate in real-time, which considerably reduces the time spent on file transfers and version control issues. Features like automatic saving prevent data loss and guarantee everyone works with the latest files. Moreover, built-in libraries provide instant access to stock footage and music, streamlining your editing process, including tools like a video zoom enhancer 1080p online free. You can access projects from any device, improving your ability to adapt to last-minute changes or client requests. Real-time collaboration tools boost communication, leading to quicker feedback and more effective decision-making. Frequently Asked Questions What Are the 5 Benefits of Cloud Computing? Cloud computing offers five key benefits: it improves cost efficiency by eliminating hefty hardware costs through a pay-as-you-go model, making budgeting easier. You gain scalability, allowing you to adjust resources as needed. Accessibility is another advantage, enabling you to work from anywhere with internet access. Furthermore, cloud services provide improved security features, including encryption. Finally, you benefit from automatic updates, ensuring you always have the latest tools and improvements without manual intervention. What Is Cloud-Based Video Editing? Cloud-based video editing refers to using online software to edit videos without needing to install anything locally. You can access your projects from any device with an internet connection, which improves flexibility. These platforms support various video formats and resolutions, allowing for real-time collaboration among team members, irrespective of their locations. Furthermore, they often include automatic saving and version control, minimizing the risk of data loss during editing. What Is a Key Advantage of Cloud-Based File Storage? A key advantage of cloud-based file storage is its scalability. You can easily adjust your storage needs based on project demands without investing in expensive hardware. This flexibility allows teams to collaborate in real-time, improving workflow efficiency by reducing delays caused by file transfers. Furthermore, cloud storage guarantees your projects are accessible from any device with internet access, providing the convenience of editing wherever you’re in addition to safeguarding your data with automated backups. What Are the Benefits of Using Video Editing Software? Using video editing software offers several key benefits. It improves your storytelling capabilities by allowing precise control over visuals and audio. You can easily cut, splice, and add effects to create polished content. Many tools provide templates and stock footage, which saves time in production. Moreover, collaborative features let teams work simultaneously, boosting efficiency. With AI-driven improvements, you can achieve higher video quality faster, making your final product more engaging for your audience. Conclusion In conclusion, cloud-based video editing offers significant advantages that can improve your editing experience. With its accessibility, you can work from anywhere, whereas collaborative features allow for seamless teamwork. The cost-effectiveness of these solutions helps manage budgets, and fortified security measures protect your valuable content. Finally, better workflow efficiency can streamline your projects, making the editing process faster and more organized. By adopting cloud-based tools, you’re positioning yourself for a more effective and modern editing approach. Image via Google Gemini This article, "5 Key Benefits of Cloud-Based Video Editing You Should Know" was first published on Small Business Trends View the full article

Naomi Osaka once believed that winning meant saying yes to everything. Over the years of her successful tennis career, though, the four-time Grand Slam champion says that doesn’t ring true anymore. As the new ambassador for vitamin and supplement company Olly’s Mental Health Awareness Month campaign, Osaka got candid about setting boundaries, pushing through fatigue and the success myth she used to believe. “I used to think success meant saying yes to everything that came with it,” Osaka wrote in a personal essay for Fortune. “Now I see it differently. I’ve been able to achieve what I have by holding boundaries.” In the piece, Osaka reflected on her decision to withdraw from the French Open in 2021 to focus on her mental well-being. “That moment stands out for me because it opened my eyes to something I hadn’t fully let myself see: you don’t always have to do things that people expect from you,” Osaka said. The tennis star has been vocal about mental health in the past. After her high-profile withdrawal from the French Open, Osaka wrote a piece for Time about the backlash she faced for her decision. She wrote about how scrutiny from the press and the tournament pressured her to disclose her personal medical history. “In any other line of work, you would be forgiven for taking a personal day here and there, so long as it’s not habitual,” Osaka wrote in the Time essay. “You wouldn’t have to divulge your most personal symptoms to your employer; there would likely be HR measures protecting at least some level of privacy.” Since having her daughter in 2023, Osaka said that creating boundaries throughout her motherhood journey has gotten easier, because not only does she have to protect herself, but she also has to protect her daughter, she explained. “There’s this idea that ‘doing it all’ is something women should aspire to, and I don’t think that should be glorified,” Osaka said. “You can’t be everything to everyone without losing something of yourself. Sometimes it’s actually kinder to say no.” In 2019, after she won the Australian Open at the age of 21, Osaka told Fast Company that the stakes started to feel higher. “If I lost a match, it became news everywhere, and I would pay more attention to my losses,” she said. “They were harder to get over. Sometimes, I got depressed during practices and [felt] like there were a lot of expectations on me. I started to question my ability, which I had never really done before. I have a tendency to shut down in those moments. It’s hard to keep having fun playing tennis.” Since then, Osaka has learned how to listen to her mind and body. As she explains in her essay for Fortune, she doesn’t push herself to extremes when she feels overwhelmed or fatigued. “As a professional athlete, I’m very in tune with my body. I’ve learned the difference between a good kind of tired and a deeper fatigue that means something is off,” she said. “When I feel that fatigue, I don’t push through it anymore. I respect it.” View the full article

Climate change is making your allergies worse, in part by creating longer and more intense pollen seasons, according to a growing body of research from a number of scientists and physicians. “We know that climate change is leading to greater amounts of pollen in the atmosphere,” says Paul Beggs, an environmental health scientist and professor at Macquarie University in Sydney, Australia, who published a 2024 paper on the link between climate change and asthma. “It’s changing the seasonality of the pollen. It’s changing the types of pollen that we’re exposed to.” With pollen season already underway in many parts of the U.S., the AccuWeather 2026 US Allergy Forecast is predicting more high-pollen days this year, driven by variables like storms and temperature swings. “The data is clear, and millions of seasonal allergy sufferers have noticed the changes,” AccuWeather climate expert and senior meteorologist Brett Anderson says. “The seasonal allergy season in America is expanding at both ends.” Dr. Rebecca Saff, an allergist and immunologist at Massachusetts General Hospital in Boston, agrees that long gone are the days when allergies were restricted to merely spring or fall. As global warming creates shorter, milder winters and warmer springs, those allergy seasons start earlier and continue later. And a 2022 study in the journal Nature predicts pollen season will start 40 days earlier and end 15 days later by the end of the century. “Later frost dates mean the allergy season is ending later in many places,” says Anderson. “When warmth and moisture align, trees, grass and weeds can produce more pollen more often.” According to Saff, those warmer temps are contributing to some plants migrating north, like ragweed—giving way to new allergens that weren’t previously seen in some parts of the country, like the Northeast. At the same time, rising temperatures—the World Meteorological Organization (WMO) says the past 11 years have been the 11 warmest on record—are triggering what experts call alarming extreme allergy events, the BBC reported. Today, 30% of Americans over the age of 18 have seasonal allergies, according to the Centers for Disease Control and Prevention (CDC). Now, thanks to climate change, they could be seeing symptoms like watery eyes, sneezing, and coughing last longer. View the full article

“I’m fine”—a vast majority of women utter those two words reflexively in various scenarios, when they’re not, in fact, fine. Now, Megababe is tackling this so-called ‘comfort tax’ with an ad campaign designed to encourage women to better advocate for themselves. On Monday, the personal care brand unveiled a series of bright orange-and-white ads across New York City that underscore how women have normalized discomfort. The campaign marks Megababe’s first foray into social-first messaging. It comes alongside the results of a March survey it conducted, which found that 85% of women would rather be uncomfortable than inconvenience someone else. Women claiming to be fine is so pervasive that 96% of the 500 respondents reported doing so at least weekly, even when they’re not fine. These types of “shockingly high” statistics, while sad, weren’t altogether surprising, which is why Megababe decided to highlight the bigger implications of that small behavior that’s so ingrained among women, says founder Katie Sturino. “We wanted to talk about how some of this ‘I’m fine’ business affects actual physical health, meaning, we don’t want to complain and seem high maintenance to the point where we don’t go to the doctor,” Sturino tells Fast Company in an exclusive interview. “We just suffer through things.” In fact, the survey found that 65% of women have never told their doctor about a recurring body discomfort, because they felt it was too embarrassing or “not serious enough” to mention. While medical gaslighting is also a serious issue many women will encounter, recognizing the learned behavior of dismissing discomfort is an important first step, Sturino says. ‘I just want women to go off’ The ad campaign includes a phone number that people can call or text to complain about whatever might be irking them at the moment, be it a body issue or someone else. That’s something Sturino says she proudly encourages her 800,000-plus followers on social media to do regularly. “I just want women to go off,” Sturino says. “I want to catch you in your moment of feeling frustrated and give you an opportunity to vent where it’s not going to really impact your day-to-day life.” Much like the topic of the ‘pink tax‘ became a talking point about a decade ago, Megababe hopes that the idea of a comfort tax will similarly become something that’s re-evaluated. And Sturino says it’s especially important right now to give women the opportunity to vent without judgment. “Women are tired; I think that women are carrying the mental load at home,” she says. “Certainly they’re not getting support from our government or current administration in any way, shape, or form, so it feels as though things just keep getting pushed onto women.” Putting a stop to it Megababe’s ad campaign intentionally doesn’t include any mention of its growing array of personal care products, which now includes a new chafe gel and a blister stick for feet. Next month, it will also debut an anti-fungal product, and this summer it will move into a new category focused on overheating, according to Sturino. The company first burst onto the market in 2017 with an anti-chafe stick for the thighs. And according to Sturino, the company’s nearly decade-long legacy makes it the “perfect” fit for creating a cultural discussion around encouraging women to stop the “I’m fine” reflexive behavior. “We are the brand that destigmatized thigh chafe and boob sweat and we take on issues that women have traditionally been told to just deal with or say, ‘I’m fine,’ and move on,” she says. “Now we want to help you in a different way.” Only about 9% of women in Megababe’s survey say they prioritize their comfort over anyone else. Sturino hopes this campaign will encourage other women to say what they need to actually be fine and comfortable. “Let’s stop this behavior that we’ve all agreed to do for no reason,” she says. View the full article

Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases. View the full article

First you choose a partner, then you choose a genome? For this episode of FC Explains, Fast Company Senior Writer Ainsley Harris digs into the rapidly growing world of embryo genetic screening, including IVF startups like Orchid and Nucleus that offer parents the ability to select embryos based on genome sequencing. Proponents say this kind of genetic testing helps optimize health outcomes and prevent hereditary disease. Parents say it’s giving their kids the best shot at life. On this episode of FC Explains we dig into why some scientists have called polygenic embryo screening “modern snake oil,” and why others are calling for an urgent, society-wide conversation about so-called “designer babies.” . View the full article

A reader writes: I make a technically reasonable but low salary at my entry-level job, and while I’m not slacking, I’m also definitely not pushing as hard as I could. I do above my quota easily as it is, and I’m confident I could do more — even the work of two people — without overburdening myself. I like the work and I’m extremely good at it, but I’ve been feeling pressured to look for a new job because that salary just isn’t sustainable. Our team is short-staffed at the moment, like everyone else, and it takes some time for a new employee to get up to speed. If I could make, let’s say, half of another person’s salary on top of my current pay, I’d be making the amount of money I want and I feel (though I could be wrong here) that’d they be getting a bargain. Let’s say I make $35,000 a year, and so hiring a new person would be another $35,000 plus their hypothetical benefits. If they gave me half that plus my current salary, I could do the work of two people for $52,500, and this would meet my needs. It’s the sort of thing that feels like it could be mutually advantageous except for social conventions and the defined salary range. Is there any way to propose this gracefully, or should I well and truly let go of the idea? Also, I totally understand if there are questions regarding the wisdom of taking on such a workload. I know the job and my skill level, but I’d do some more specific assessment before reaching out about anything, if it would indeed be acceptable to do so. What you want to propose sounds extremely logical, and yet companies will almost never do it. Some of that is skepticism that you’d really be taking on the work of a whole other person’s job. Sometimes that skepticism is warranted, because in practice it can end up meaning that you do the basics the other person would do but none of the extras and they miss out on the advantages of having two brains looking at problems (and coming up with ideas, taking initiative, etc.) rather than one. You might think that’s a reasonable trade-off to make if it saves them from having to hire an entire other person, but there are legitimate reasons for managers to be uneasy about that. Sometimes, too, they can have worries about coverage: right now if you’re out, there are X other people who can do the work, but under what you’re proposing it would be X-1. They also might worry about your capacity. Maybe you’re right that you could easily field both jobs now, but they don’t know if it will be sustainable long-term — if, for example, the workload of either position changes, or if something changes on your end (like a new commitment that takes a lot of your energy outside of work and leaves you less bandwidth). And, crucially, a manager might figure that what you’re proposing would work fine as long as you’re still employed there, but if you leave, they’d need to hire two people to replace you and it would be a battle for them to get that headcount back if they give it up now. Other times, none of those concerns are in play and they just object to the idea of structuring pay the way you describe, figuring that they’re paying for your time and if you can do X job and Y job in 40 hours, that’s what your existing salary covers. In that case, they’re more likely to be open to a raise, but not one that’s structured as half the salary of another position. Ultimately, that’s likely the most effective way to propose it: to say that you think you could take on much of the work of the other role, saving them from having to hire another person and, if you did, would they consider increasing your salary to reflect that? You might propose a one-month experiment so both sides can see if it works. The risk in doing that, of course, is that they could decide to add most/all of that position’s work to your role without a sufficient pay increase. But if you’d otherwise be planning to leave over pay at some point regardless, that might be a risk you’re willing to take on. The post can I ask for half an extra salary if I take on someone else’s job plus mine? appeared first on Ask a Manager. View the full article

Current liquidation and prior restructuring procedure have cost more than $110mn combinedView the full article

In the United States, we recognize a separation between church and state, but does that delineation apply to work, too? That’s an earnest question from a self-identifying choirboy—literally, I grew up in church and I direct the choir—who has been asked throughout my career to leave religion out of my work. Do we need the Jesus reference in the deck? Do I have to use Bible scripture in that essay? Is the religious example in the class lecture necessary? It’s almost always polite but definitely unambiguous: ease up on the religious stuff because it likely doesn’t have a place here because the workplace is neutral. But is that really so? The entire global workweek structure stems from Judeo-Christian theology. Saturdays and Sundays are considered “days of rest,” so many institutions suspend organized work to observe the Sabbath. The country shuts down for Christmas. We hand out candy in October because of All Hallows’ Eve, a pagan tradition with a Christian association. And once we’re in the office, we use words like evangelist, convert, mission, believers, devotion—religious vocabulary is so embedded in the discourse of marketing and management that we’ve stopped hearing it as religious at all. In fact, the source material for much of social living is founded on religious imaginations that have been secularized, even in the workplace; we have just agreed to pretend otherwise. That’s why we invited Julie Wenah onto the latest episode of the FROM THE CULTURE podcast to sit with this contradiction. Wenah is the chairwoman of the Digital Civil Rights Coalition and a global product leader who’s done AI equity work at Meta and Airbnb, shaped policy in the Obama White House, and trained as a civil rights attorney along the way at Georgetown Law. She’s also a filmmaker, an Alvin Ailey-trained dancer, and a woman who will, without flinching, tell you what God said to her last Thursday. Wenah is what the no-Jesus-at-work crowd insists is impossible: a senior operator at the leading edge of technology and policy whose faith isn’t the side dish to her career but the main ingredient. There’s so much talk in management and organizations discourse about bringing your “whole self” to work, so why is it assumed that we’d leave our faith at the door? The default frame says bringing your faith to work is a risk to your professionalism, but that violates all the lauded benefits that are said to come from being our authentic selves in the workplace. In our conversation, Wenah offers a powerful reframe that addresses this contradiction: The album and the mixtape. Your album, Wenah posits, is the contractual work—what you owe the label, the deliverable on the job description, the thing that pays. Your mixtape, on the other hand, is everything else you make: the side project, the dance class, the documentary you create, the choir you direct, the faith you carry. The album is what the company hired you to do. The mixtape is what makes you, you. And the artists who endure are the ones whose body of work includes both. You don’t know Lil Wayne, Kendrick Lamar, J. Cole, Big Sean, The Weeknd, or Drake alone because of their studio albums; the mixtape is a part of their body of work. Even Jay-Z’s “S.Carter” mixtape is considered canon. That’s because to know an artist by their album only is to know only half of them. The same is true of the people you employ. Wenah traces her framework back to a single moment in her Washington, D.C. apartment in 2016. Chance the Rapper’s Blessings came on, and she heard the line, “I speak to God in public.” She’d spent her career being told her two halves were incongruous—the lawyer and the believer, the technologist and the church girl, the album and the mixtape. Chance gave her permission, in three words, to stop separating them. I had my own version of this feeling stuck writing my best-selling debut book For The Culture. I had nothing for months until I remembered that the early sociologists—Durkheim, Weber, Marx—all observed religion to understand culture, and here I was a choirboy writing a book about culture. The angle was an unlock that sitting in the part of myself I’d been told to leave outside the office. I’m not saying that we ought to run Bible study out of the conference room or hold prayer with your direct reports. I’m not asking the workplace to become religious. The workplace already is religious; my argument is that we should stop pretending otherwise so that we might benefit from the promise of our full selves—the album and the mixtape. Not because it’s nice, but because it’s where the depth lives. The leader who can say here’s what I believe and here’s why I serve—without proselytizing, without flattening the source, and while tolerating other points of view—is the leader who can ask the people in their building to do the same. And the company that gets the album and the mixtape from each of its employees gets their full body of work, their full potential. Who wouldn’t want that? Check out our full conversation with Julie Wenah on the latest episode of FROM THE CULTURE here. View the full article