The break-even point is a financial term that refers to the level of sales at which a business covers all its costs and makes neither a profit nor a loss. It is the point where the revenue generated by the business equals the total costs incurred.
As a freelancer, independent contractor, or self-employed worker, Tax Day can be more than just an annual hassle. In fact, depending on your self-employment income, you may be responsible for making estimated tax payments four times a year.
Financial independence is something that we all strive for, however, it can be hard to get there. As with any kind of successful endeavor, achieving financial independence requires focus and dedication.
Both small businesses and individuals are legally required to retain receipts and invoices for a minimum of seven years. Typically, this meant stacks of papers on your desk or in filing cabinets, which took up a lot of space but served little another purpose than to sit there and store documents.