Angel Zhen CPA

 

  How to Effectively Transition from Full-Time to Self-Employed At last count, nearly 10 million people were  self-employed  and another 6 million were working  gig jobs , according to the federal Bureau of Labor Statistics. BLS had already projected those numbers would grow. But with 40 million people losing their jobs during the COVID-19 pandemic, it’s likely even more people will turn to consulting, freelancing or gig jobs to make ends meet. And whether you’re a gig worker providing ride share services or food delivery, consulting as an engineer or analyst or freelancing as a writer or editor, from a wage, tax and benefit position, you’re essentially self-employed. For those new to that classification, the financial considerations can be a real eye opener, warns Mackey McNeill, CPA/PFS and member of the AICPA Consumer Financial Education Advocates. “A lot of people move from being employed to working for themselves,” she said. “But just because they’re self-employ...

  PROFESSIONAL INSIGHTS 9 ways to future-proof yourself, thrive during change Dorie Clark 16 days ago · 7 min read How we reinvent our skill sets is always an important topic, but especially now. In the current COVID-19 environment, we all have to be a little sharper about how we do our jobs and see around corners to stay ahead of what’s next. There were obvious transitions as things went virtual and everyone had to adapt quickly to change. Now we have more of an opportunity to be strategic about our careers, reimagining a path and being nimble and agile in our thinking. We are acutely aware that things we knew to be true in the past can’t be counted on anymore. It’s time to question assumptions and build on our skills, talents, and attributes to thrive and succeed. You eliminated, reduced, added, or changed a bunch of things amid the pandemic, but now ask yourself if you’re doing the right things. The business terrain looks very different from what was familiar just six months ago...

  The IRS in an internal   memo   Friday identified a range of forms for which it will temporarily allow required signatures in electronic or digital form. The forms are fileable only on paper but otherwise require a handwritten signature. Allowing them to be e-signed remotely before being printed out and mailed to the Service will help tax professionals and their taxpayer clients maintain public health safety during the COVID-19 pandemic, the IRS said in a  news release  announcing the action. The authorization is effective for forms mailed to the IRS on or after Aug. 28 through Dec. 31, 2020. The forms covered are: Form 3115,  Application for Change in Accounting Method ; Form 8802,  Application for U.S. Residency Certification ; Form 8832,  Entity Classification Election ; Form 1066,  U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return ; Form 1120-RIC,  U.S. Income Tax Return for Regulated Investment Companies ; For...