Families going through challenging financial times are becoming more common. Maintaining a full time job is not always enough to cover financial problems when they come up. Working extra hours or taking up a second job is not always possible due to complications with the pandemic. Raising additional money often requires creative solutions. Selling personal items is better than taking out a high interest loan. A lump sum is a great way to cover a car payment, groceries, childcare, and medical expenses.
Up until this point, you may have worked for someone else and relied upon tax software to aid you in filing an accurate and complete tax return. If a change in your personal plans has resulted in you going into business for yourself, you have a whole new set of guidelines to follow. Filing your taxes may be much more complicated now, especially if you plan on itemizing costs or are going to be eligible for credits.
