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The Savvy Scot

Personal finance and lifestyle blog

Viewing posts tagged with: taxes

Finance Facts for the Self-Employed: Ways to Avoid Overpaying Your Taxes

By Pauline

Most self-employed people overpay on their taxes. So, here’s some tips to help you avoid that without running into trouble with HMRC. Spread Out Your Income Tax Payments Every member of your family who is able to work will have a personal allowance of £9,440. So, if you’re earning more than the 20 pc tax… Read more

Filed Under: Money Tagged With: Overpaying Your Taxes, self employed, taxes

Are contractors worth their rates?

By Pauline

  I am always impressed when I see contractors’ rates, compared to someone doing pretty much the same job, but full time. For example, in IT, you can easily charge £800 and up per day, which is what an average IT professional might make in a week or more. As a matter of fact, a… Read more

Filed Under: Money Tagged With: contract, contractor, earn more, freelance, Insurance, it, job, liability, rates, taxes, work

Top 10 mistakes traders make when filing their taxes

By Pauline

April 15th – the day that makes most of us shudder. Dealing with taxes can be a complicated process for the average person, but investors have an even trickier time staying in compliance with the IRS tax code. While online programs like TurboTax, for example, might be a good fit for someone with straightforward financials, traders… Read more

Filed Under: Money Tagged With: taxes, traders

A lifetime of savings part 4: smart money moves in your 50s

By Pauline

A lifetime of savings part 4: smart money moves in your 50s

While in the past we have discussed the importance of saving money in your 40s, as well as how critical is to to financially plan and be smart about how to save money in your 30s, today we’ll follow up on the next decade of your life. That’s right, you’re about to turn 50! But… Read more

Filed Under: Personal Finance Tagged With: 50, lifetime savings, Money, Saving Money, smart money, taxes

A lifetime of savings part 3: saving money in your 40s

By Pauline

Saving money in your 40s

Following up with this lifetime of savings series, we have talked about how to save money in your 20s and how to build solid foundations for your adult financial life, as well as the smart money moves one should make to save money in your 30s. Now let’s see what should be tackled in your… Read more

Filed Under: Personal Finance Tagged With: 40s, lifetime savings, Money, retirement, save, saving, taxes

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