Welcome to the AWNY News Exchange, designed to give members the opportunity to share information about events or happenings in the industry. If you have something that you think might be of interest to your fellow AWNY members, please send to liz@awny.org and we will be happy to post it.
The 1099s are hitting mailboxes, and with the economy in a tailspin, we wanted to let your self-employed, freelance, and independent contractor members know about an aggressive tax-time effort that’s helping struggling families get little-known tax benefits worth hundreds of dollars.
Last year, Freelancers Union campaigned to reform the Unincorporated Business Tax, and with your help, saved 17,000 freelancers more than $25 million. This year, we’re expanding our outreach and services by launching a program that provides free tax preparation assistance in Brooklyn and an online resource that anyone statewide can use to claim their credit (http://www.freelancersunion.org/advocacy/tax-resources.html)
As layoffs have continued throughout the past year, thousands have gone from full-time positions to having to make a living outside the traditional 9-5 world.
The Making Work Pay Tax Credit is a $400 tax credit (double if people file jointly) that the self-employed qualify for and which was a cornerstone of President Obama’s American Recovery and Reinvestment Act. However, it only works if people claim it. That’s why Freelancers Union is encouraging independent workers—particularly the newly self-employed—to claim this crucial financial windfall at our free tax assistance center.
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