Starting a Business or getting a side gig

One of the biggest benefits of having a business are deductions. Save your receipts and keep good records of your expenses to make sure you're claiming everything you can.

To cover your federal tax liability, you'll need to make estimated payments to the IRS every quarter.

There are two different types of accounting methods you can use-cash or accrual. Choose the one that works for your business and follow that when filing your return.