Tax Firm Challenges Solopreneurs Capitalizing on the Sharing Economy to Get a Head Start on Tax Season

NEW YORK - Feb. 1, 2017 - PRLog -- Millennial Tax, a one-stop resource for rideshare, rental hosts and home-based businesses, is challenging solopreneurs capitalizing on the sharing economy to file their tax returns early. According to the tax firm's senior tax professional, while peer-to-peer networks such as Uber Technologies, Inc. and Airbnb, Inc. have made starting a business easier than ever, many solopreneurs are not fully versed in what's expected of them by tax authorities, which can prove challenging during tax season.

"The sharing economy has blazed a popular yet non-traditional path to entrepreneurship, and as a result, many solopreneurs have not fully grasped the intricacies and complexity of proper record keeping best practices or how to prepare their taxes accurately," said Meisa Bonelli, a New York-based serial entrepreneur and the founder of Millennial Tax. "We encourage solopreneurs to start gathering their financial documents and get their bookkeeping complete early so they can prepare their taxes on time, which gives them time to correct common missteps and avoid costly penalties that can accrue when errors aren't caught before IRS deadlines."

This year, to incentivize solopreneurs to be on time, Millennial Tax has launched a Solopreneur Tax Preparation Early Bird Special. The promotion includes tax preparation of one federal and one state tax return for a Doing Business As (e.g., Schedule C), LLC or S-Corp business entity for one fiscal, calendar or reporting year. Millennial Tax is offering a $200 savings on their tax preparation services and a 7 to 10 day turnaround.

Experts forecast that the number of small businesses, predominantly solo operations, will jump from 30 million in 2014 to 42 million in 2026. Millennial Tax has grown by specifically meeting the needs of this growing sector and guides rideshare drivers, home-based businesses and rental hosts through learning about tax savings and audit-proofing and profitizing their businesses (1).

Millennial Tax provides solopreneurs who are innovating in the peer-to-peer economy with the resources they need to remain tax compliant in an ever-changing economic landscape. In addition to tax preparation, the firm offers helpful e-courses such as How to Pay Taxes as a Rideshare Driver and weekly tax tips on Millennial Tax TV.

"Our philosophy is that preparedness fuels profitability," says Bonelli. "Our services and resources ensure that our clients and members are fully prepared, empowered and equipped to take their ventures to the next level and win at solopreneurship."

For more information about Millennial Tax's early bird special, call (646) 537-1733 and to learn more about Meisa Bonelli and Millennial Tax, visit http://bit.ly/2ioVGHK.

Photo credit - Pierre Gautreu

Reference (s):

1) http://www.forbes.com/sites/elainepofeldt/2016/10/24/why-small-business-ownership-will-skyrocket-in-10-years-especially-by-solopreneurs/#30cf7cb57725